Meredith Corporation (NYSE:MDP) – Research analysts at Jefferies Group lifted their FY2020 EPS estimates for shares of Meredith in a research note issued on Tuesday. Jefferies Group analyst J. Janedis now expects that the company will post earnings of $3.39 per share for the year, up from their prior estimate of $3.23. Jefferies Group currently has a “Buy” rating and a $80.00 price target on the stock.

Meredith (NYSE:MDP) last released its earnings results on Thursday, October 26th. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.06. Meredith had a net margin of 11.04% and a return on equity of 18.24%. The company had revenue of $393.00 million for the quarter, compared to analysts’ expectations of $397.50 million. During the same quarter in the previous year, the company earned $0.75 EPS. Meredith’s revenue for the quarter was down 1.7% on a year-over-year basis.

A number of other research firms have also recently weighed in on MDP. Zacks Investment Research cut shares of Meredith from a “hold” rating to a “sell” rating in a research note on Friday, October 20th. ValuEngine upgraded shares of Meredith from a “hold” rating to a “buy” rating in a research note on Friday, October 13th. Wells Fargo & Company lowered their target price on shares of Meredith from $62.00 to $54.00 and set a “market perform” rating on the stock in a research note on Friday, October 27th. Benchmark restated a “buy” rating and set a $77.00 target price (up previously from $67.00) on shares of Meredith in a research note on Monday. Finally, BidaskClub cut shares of Meredith from a “buy” rating to a “hold” rating in a research note on Tuesday, August 22nd. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $71.40.

Meredith (NYSE MDP) traded down $0.30 on Wednesday, hitting $68.15. 492,555 shares of the company were exchanged, compared to its average volume of 530,691. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.04 and a current ratio of 1.08. Meredith has a 52 week low of $50.63 and a 52 week high of $70.85. The stock has a market cap of $3,006.70, a PE ratio of 17.13, a price-to-earnings-growth ratio of 5.09 and a beta of 1.20.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. increased its holdings in Meredith by 9.1% in the 2nd quarter. BlackRock Inc. now owns 7,553,017 shares of the company’s stock valued at $449,025,000 after acquiring an additional 627,217 shares during the last quarter. State Street Corp increased its holdings in Meredith by 16.8% in the 2nd quarter. State Street Corp now owns 4,938,340 shares of the company’s stock valued at $293,589,000 after acquiring an additional 710,721 shares during the last quarter. Vanguard Group Inc. increased its holdings in Meredith by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 3,564,353 shares of the company’s stock valued at $211,902,000 after acquiring an additional 14,885 shares during the last quarter. Royce & Associates LP increased its holdings in Meredith by 5.4% in the 3rd quarter. Royce & Associates LP now owns 1,602,378 shares of the company’s stock valued at $88,932,000 after acquiring an additional 81,737 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Meredith by 11.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,501,656 shares of the company’s stock valued at $89,273,000 after acquiring an additional 154,036 shares during the last quarter. Institutional investors own 98.06% of the company’s stock.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be issued a $0.52 dividend. The ex-dividend date is Wednesday, November 29th. This represents a $2.08 dividend on an annualized basis and a yield of 3.05%. Meredith’s dividend payout ratio is currently 50.36%.

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About Meredith

Meredith Corporation is a diversified media company. The Company is focused primarily on the home and family marketplace. The Company operates through two segments: Local Media and National Media. As of June 30, 2016, the Company’s Local Media segment includes 16 owned television stations, one managed television station and related digital and mobile media operations.

Earnings History and Estimates for Meredith (NYSE:MDP)

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