Meredith (NYSE:MDP) was downgraded by investment analysts at Citigroup from a “buy” rating to a “neutral” rating in a research report issued on Friday.

MDP has been the topic of several other reports. ValuEngine raised shares of Meredith from a “hold” rating to a “buy” rating in a report on Monday. Jefferies Group upgraded shares of Meredith from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $56.00 to $80.00 in a research note on Tuesday. Zacks Investment Research upgraded shares of Meredith from a “sell” rating to a “buy” rating and set a $59.00 target price for the company in a research note on Tuesday, October 31st. Wells Fargo & Company upgraded shares of Meredith from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $54.00 to $76.00 in a research note on Monday. Finally, BidaskClub lowered shares of Meredith from a “buy” rating to a “hold” rating in a research note on Tuesday, August 22nd. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Meredith presently has a consensus rating of “Buy” and an average price target of $71.40.

Shares of Meredith (NYSE MDP) traded down $0.30 during trading hours on Friday, reaching $68.15. The company had a trading volume of 492,500 shares, compared to its average volume of 530,691. Meredith has a 52 week low of $50.63 and a 52 week high of $70.85. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.04 and a current ratio of 1.08. The stock has a market cap of $3,006.70, a P/E ratio of 17.13, a PEG ratio of 5.09 and a beta of 1.20.

Meredith (NYSE:MDP) last issued its quarterly earnings data on Thursday, October 26th. The company reported $0.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.06. Meredith had a return on equity of 18.24% and a net margin of 11.04%. The firm had revenue of $393.00 million during the quarter, compared to analyst estimates of $397.50 million. During the same quarter last year, the business posted $0.75 earnings per share. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. equities research analysts anticipate that Meredith will post 3.39 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. grew its stake in Meredith by 16,099.9% in the first quarter. BlackRock Inc. now owns 6,925,800 shares of the company’s stock valued at $447,406,000 after acquiring an additional 6,883,048 shares during the period. State Street Corp lifted its holdings in Meredith by 262.5% during the first quarter. State Street Corp now owns 4,227,619 shares of the company’s stock worth $273,107,000 after acquiring an additional 3,061,421 shares during the period. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in Meredith by 245.2% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,157,605 shares of the company’s stock worth $112,002,000 after acquiring an additional 1,532,611 shares during the period. Schroder Investment Management Group lifted its holdings in Meredith by 551.4% during the third quarter. Schroder Investment Management Group now owns 930,139 shares of the company’s stock worth $48,358,000 after acquiring an additional 787,358 shares during the period. Finally, Copper Rock Capital Partners LLC bought a new stake in Meredith during the third quarter worth $36,045,000. 98.06% of the stock is owned by institutional investors and hedge funds.

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Meredith Company Profile

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.

Analyst Recommendations for Meredith (NYSE:MDP)

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