Brokerages expect that Meredith Corporation (NYSE:MDP) will post sales of $416.90 million for the current quarter, according to Zacks. Two analysts have issued estimates for Meredith’s earnings. The highest sales estimate is $419.00 million and the lowest is $414.80 million. Meredith reported sales of $442.64 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 5.8%. The company is expected to announce its next earnings results on Wednesday, January 24th.

On average, analysts expect that Meredith will report full-year sales of $416.90 million for the current financial year, with estimates ranging from $1.69 billion to $1.70 billion. For the next year, analysts forecast that the business will report sales of $1.75 billion per share. Zacks’ sales averages are a mean average based on a survey of research firms that follow Meredith.

Meredith (NYSE:MDP) last released its quarterly earnings results on Thursday, October 26th. The company reported $0.69 earnings per share for the quarter, beating the Thomson Reuters’ 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 company had revenue of $393.00 million for the quarter, compared to analyst estimates of $397.50 million. During the same period in the previous year, the company posted $0.75 earnings per share. The firm’s revenue was down 1.7% on a year-over-year basis.

Several research firms have commented on MDP. Citigroup downgraded Meredith from a “buy” rating to a “neutral” rating in a report on Friday, December 1st. ValuEngine raised Meredith from a “hold” rating to a “buy” rating in a report on Monday, November 27th. Jefferies Group raised Meredith from a “hold” rating to a “buy” rating and boosted their target price for the stock from $56.00 to $80.00 in a report on Tuesday, November 28th. Benchmark reissued a “buy” rating and issued a $77.00 target price (up from $67.00) on shares of Meredith in a report on Monday, November 27th. Finally, Wells Fargo & Company raised Meredith from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $54.00 to $76.00 in a report on Monday, November 27th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $71.40.

Shares of Meredith (NYSE MDP) opened at $70.00 on Wednesday. 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 1 year low of $50.63 and a 1 year high of $71.00. The firm has a market capitalization of $3,151.89, a P/E ratio of 17.95, a P/E/G ratio of 2.60 and a beta of 1.29.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date is Wednesday, November 29th. Meredith’s payout ratio is currently 50.36%.

In related news, Director Frederick B. Henry sold 1,048 shares of the company’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $66.50, for a total transaction of $69,692.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul Karpowicz sold 5,000 shares of the company’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $68.61, for a total value of $343,050.00. The disclosure for this sale can be found here. Corporate insiders own 4.00% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Burney Co. increased its position in Meredith by 29.5% in the second quarter. Burney Co. now owns 23,870 shares of the company’s stock worth $1,412,000 after buying an additional 5,440 shares in the last quarter. Aberdeen Asset Management PLC UK increased its position in Meredith by 151.4% in the second quarter. Aberdeen Asset Management PLC UK now owns 351,997 shares of the company’s stock worth $20,926,000 after buying an additional 211,997 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in Meredith by 77.1% in the second quarter. BNP Paribas Arbitrage SA now owns 22,815 shares of the company’s stock worth $1,356,000 after buying an additional 9,936 shares in the last quarter. Royal Bank of Canada increased its position in Meredith by 44.3% in the second quarter. Royal Bank of Canada now owns 11,349 shares of the company’s stock worth $675,000 after buying an additional 3,486 shares in the last quarter. Finally, Channing Capital Management LLC increased its position in Meredith by 14.0% in the third quarter. Channing Capital Management LLC now owns 799,034 shares of the company’s stock worth $44,346,000 after buying an additional 98,014 shares in the last quarter. Institutional investors own 98.04% of the company’s stock.

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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.

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Earnings History and Estimates for Meredith (NYSE:MDP)

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