Meredith (MDP) to Release Quarterly Earnings on Tuesday

Meredith (NYSE:MDP) is set to issue its quarterly earnings data before the market opens on Tuesday, January 23rd. Analysts expect the company to announce earnings of $0.89 per share for the quarter. Meredith has set its Q2 guidance at $0.87 -0.92 EPS and its FY18 guidance at $3.20-3.50 EPS.

Meredith (NYSE:MDP) last announced its quarterly earnings results on Thursday, October 26th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $397.50 million. During the same quarter in the prior year, the firm earned $0.75 earnings per share. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. On average, analysts expect Meredith to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Shares of Meredith (NYSE:MDP) opened at $67.20 on Tuesday. Meredith has a fifty-two week low of $50.63 and a fifty-two week high of $72.25. The stock has a market cap of $3,000.00, a PE ratio of 16.23, a price-to-earnings-growth ratio of 2.48 and a beta of 1.30. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.08 and a quick ratio of 1.04.

MDP has been the topic of several recent research reports. Zacks Investment Research downgraded shares of Meredith from a “hold” rating to a “sell” rating in a report on Tuesday, September 26th. ValuEngine raised shares of Meredith from a “hold” rating to a “buy” rating in a report on Friday, October 13th. Jefferies Group reaffirmed a “hold” rating and issued a $60.00 price target on shares of Meredith in a report on Monday, October 16th. Wells Fargo & Co reduced their price target on shares of Meredith from $62.00 to $54.00 and set a “market perform” rating on the stock in a report on Friday, October 27th. Finally, JMP Securities initiated coverage on shares of Meredith in a report on Monday, November 13th. They issued a “market perform” rating on the stock. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $74.20.

In other news, major shareholder Edwin T. Iv Meredith sold 3,600 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $70.10, for a total value of $252,360.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Meredith D. Mell Frazier sold 22,176 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $69.85, for a total transaction of $1,548,993.60. Following the completion of the transaction, the director now directly owns 6,000 shares of the company’s stock, valued at approximately $419,100. The disclosure for this sale can be found here. In the last three months, insiders sold 35,024 shares of company stock valued at $2,443,024. Company insiders own 4.00% 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.

Earnings History for Meredith (NYSE:MDP)

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