Meredith Corporation (NYSE:MDP) issued an update on its FY18 earnings guidance on Thursday morning. The company provided earnings per share guidance of $3.20-3.50 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.37. Meredith Corporation also updated its Q2 guidance to $0.87 -0.92 EPS.
Shares of Meredith Corporation (NYSE MDP) traded down $0.15 during mid-day trading on Friday, reaching $53.20. 357,900 shares of the company’s stock traded hands, compared to its average volume of 510,605. 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 Corporation has a 12-month low of $48.65 and a 12-month high of $66.25. The firm has a market cap of $2,382.35, a price-to-earnings ratio of 13.57, a P/E/G ratio of 4.04 and a beta of 1.20.
Meredith Corporation (NYSE:MDP) last issued 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 Corporation had a net margin of 11.04% and a return on equity of 18.24%. The firm 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 business earned $0.75 EPS. The company’s revenue was down 1.7% compared to the same quarter last year. equities analysts expect that Meredith Corporation will post 3.39 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be paid a dividend of $0.52 per share. The ex-dividend date is Wednesday, November 29th. This represents a $2.08 annualized dividend and a dividend yield of 3.91%. Meredith Corporation’s dividend payout ratio is presently 50.36%.
MDP has been the topic of several recent analyst reports. ValuEngine lowered shares of Meredith Corporation from a buy rating to a hold rating in a research note on Friday, September 1st. Zacks Investment Research lowered shares of Meredith Corporation from a hold rating to a sell rating in a research note on Tuesday, September 26th. Wells Fargo & Company decreased their price target on shares of Meredith Corporation from $62.00 to $54.00 and set a market perform rating on the stock in a research note on Friday, October 27th. BidaskClub upgraded shares of Meredith Corporation from a hold rating to a buy rating in a research note on Tuesday, July 25th. Finally, Jefferies Group LLC reiterated a hold rating on shares of Meredith Corporation in a research note on Sunday, October 29th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $60.60.
In other news, insider Paul Karpowicz sold 4,291 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $56.12, for a total transaction of $240,810.92. Following the completion of the sale, the insider now owns 66,473 shares of the company’s stock, valued at approximately $3,730,464.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Stephen M. Lacy sold 10,816 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $56.04, for a total transaction of $606,128.64. Following the sale, the chairman now directly owns 9,274 shares of the company’s stock, valued at approximately $519,714.96. The disclosure for this sale can be found here. Insiders sold a total of 29,661 shares of company stock valued at $1,680,697 in the last three months. Insiders own 4.00% of the company’s stock.
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Meredith Corporation 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.
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