Shares of Meredith Co. (NYSE:MDP) have received an average rating of “Buy” from the eight research firms that are presently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $76.50.

Several equities analysts recently commented on MDP shares. Zacks Investment Research lowered Meredith from a “hold” rating to a “sell” rating in a report on Tuesday, September 26th. ValuEngine upgraded shares of Meredith from a “hold” rating to a “buy” rating in a research note on Friday, October 13th. Jefferies Group restated a “hold” rating and issued a $60.00 price objective on shares of Meredith in a research note on Monday, October 16th. Wells Fargo & Co decreased their price objective on shares of Meredith from $62.00 to $54.00 and set a “market perform” rating for the company in a research note on Friday, October 27th. Finally, JMP Securities assumed coverage on shares of Meredith in a research note on Monday, November 13th. They issued a “market perform” rating for the company.

In other news, insider Paul Karpowicz sold 5,000 shares of the stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $68.61, for a total transaction of $343,050.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Edwin T. Iv Meredith sold 3,600 shares of the stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $70.10, for a total transaction of $252,360.00. The disclosure for this sale can be found here. Insiders sold 35,024 shares of company stock valued at $2,443,024 in the last 90 days. 4.00% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in MDP. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Meredith during the third quarter worth about $167,000. Janney Montgomery Scott LLC acquired a new stake in shares of Meredith during the third quarter worth about $204,000. Crossmark Global Holdings Inc. acquired a new stake in shares of Meredith during the third quarter worth about $207,000. Flinton Capital Management LLC boosted its stake in shares of Meredith by 53.4% during the second quarter. Flinton Capital Management LLC now owns 3,808 shares of the company’s stock worth $226,000 after buying an additional 1,326 shares during the period. Finally, Riverhead Capital Management LLC boosted its stake in shares of Meredith by 54.6% during the second quarter. Riverhead Capital Management LLC now owns 3,864 shares of the company’s stock worth $230,000 after buying an additional 1,364 shares during the period. Institutional investors and hedge funds own 97.26% of the company’s stock.

Meredith (NYSE:MDP) opened at $66.80 on Friday. The company has a market capitalization of $2,970.00, a price-to-earnings ratio of 16.14, a P/E/G ratio of 2.45 and a beta of 1.30. The company has a quick ratio of 1.04, a current ratio of 1.08 and a debt-to-equity ratio of 0.64. Meredith has a twelve month low of $50.63 and a twelve month high of $72.25.

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

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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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