Meredith (MDP) Releases FY19 Earnings Guidance

Meredith (NYSE:MDP) issued an update on its FY19 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $2.78-3.20 for the period, compared to the Thomson Reuters consensus estimate of $3.21. The company issued revenue guidance of $3-3.2 billion, compared to the consensus revenue estimate of $3.10 billion.Meredith also updated its FY 2019 guidance to $2.78-3.20 EPS.

Shares of MDP opened at $52.52 on Monday. Meredith has a 52-week low of $47.30 and a 52-week high of $62.40. The stock has a market cap of $2.36 billion, a P/E ratio of 20.68 and a beta of 1.14. The company has a debt-to-equity ratio of 2.72, a quick ratio of 1.52 and a current ratio of 1.57.

Meredith (NYSE:MDP) last announced its quarterly earnings data on Friday, November 9th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of ($0.32) by $0.54. Meredith had a return on equity of 13.08% and a net margin of 3.18%. The firm had revenue of $756.70 million for the quarter, compared to analyst estimates of $751.33 million. During the same period in the prior year, the company earned $0.73 EPS. The company’s revenue was up 92.6% on a year-over-year basis. As a group, research analysts expect that Meredith will post 3.97 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Thursday, February 28th will be paid a $0.575 dividend. This represents a $2.30 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date of this dividend is Wednesday, February 27th. This is a boost from Meredith’s previous quarterly dividend of $0.55. Meredith’s dividend payout ratio (DPR) is presently 85.83%.

A number of research analysts have issued reports on MDP shares. Zacks Investment Research cut Meredith from a hold rating to a sell rating in a research note on Wednesday, February 6th. Benchmark reaffirmed a buy rating and issued a $70.00 price objective on shares of Meredith in a report on Monday, December 17th. Citigroup lifted their price objective on Meredith from $61.00 to $67.00 and gave the stock a buy rating in a report on Thursday, November 29th. TheStreet raised Meredith from a c+ rating to a b- rating in a report on Tuesday, November 27th. Finally, Wolfe Research began coverage on Meredith in a research report on Friday, December 7th. They issued a market perform rating on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. Meredith has an average rating of Buy and an average price target of $63.00.

In related news, Director Frederick B. Henry sold 1,057 shares of the firm’s stock in a transaction on Thursday, November 15th. The stock was sold at an average price of $57.45, for a total value of $60,724.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John S. Zieser sold 6,011 shares of the firm’s stock in a transaction on Thursday, November 15th. The stock was sold at an average price of $58.42, for a total value of $351,162.62. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,952 shares of company stock valued at $811,228. 4.70% of the stock is owned by company insiders.

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About Meredith

Meredith Corporation operates as a diversified media company in the United States, Europe, and Asia. It operates in two segments, National Media and Local Media. The National Media segment offers national consumer media brands through various media platforms, including print magazines, digital and mobile media, brand licensing activities, database-related activities, affinity marketing, and business-to-business marketing products and services.

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Earnings History and Estimates for Meredith (NYSE:MDP)

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