Q4 2018 EPS Estimates for Meredith Corporation (MDP) Lifted by Jefferies Group

Meredith Corporation (NYSE:MDP) – Stock analysts at Jefferies Group boosted their Q4 2018 earnings per share (EPS) estimates for shares of Meredith Corporation in a note issued to investors on Thursday. Jefferies Group analyst J. Janedis now anticipates that the company will post earnings per share of $1.02 for the quarter, up from their prior estimate of $1.01. Jefferies Group has a “Hold” rating on the stock.

A number of other brokerages have also weighed in on MDP. Zacks Investment Research lowered shares of Meredith Corporation from a “hold” rating to a “sell” rating in a report on Friday, October 20th. ValuEngine upgraded shares of Meredith Corporation from a “hold” rating to a “buy” rating in a report on Friday, August 4th. Wells Fargo & Company decreased their price objective on shares of Meredith Corporation from $62.00 to $54.00 and set a “market perform” rating for the company in a report on Friday. Finally, BidaskClub upgraded shares of Meredith Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $61.00.

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Shares of Meredith Corporation (NYSE MDP) traded down 1.81% during trading on Monday, hitting $51.60. 118,628 shares of the stock traded hands. The firm’s 50-day moving average price is $54.42 and its 200-day moving average price is $56.84. Meredith Corporation has a 12 month low of $43.85 and a 12 month high of $66.25. The stock has a market cap of $2.30 billion, a PE ratio of 12.40 and a beta of 1.23.

Meredith Corporation (NYSE:MDP) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $397.50 million. Meredith Corporation had a net margin of 11.04% and a return on equity of 18.24%. The company’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.75 earnings per share.

In other news, insider John S. Zieser sold 1,924 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $57.26, for a total value of $110,168.24. Following the completion of the sale, the insider now owns 6,800 shares in the company, valued at approximately $389,368. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Thomas H. Harty sold 10,363 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $57.80, for a total transaction of $598,981.40. Following the completion of the sale, the insider now owns 14,445 shares of the company’s stock, valued at approximately $834,921. The disclosure for this sale can be found here. Insiders have sold a total of 50,363 shares of company stock valued at $2,909,427 in the last quarter. 4.00% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of MDP. Spot Trading L.L.C. bought a new stake in shares of Meredith Corporation in the 1st quarter valued at about $301,000. UBS Asset Management Americas Inc. raised its holdings in shares of Meredith Corporation by 67.9% in the 1st quarter. UBS Asset Management Americas Inc. now owns 24,235 shares of the company’s stock valued at $1,566,000 after purchasing an additional 9,798 shares in the last quarter. OppenheimerFunds Inc. raised its holdings in shares of Meredith Corporation by 26.0% in the 1st quarter. OppenheimerFunds Inc. now owns 7,646 shares of the company’s stock valued at $494,000 after purchasing an additional 1,578 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Meredith Corporation by 2.1% in the 1st quarter. Principal Financial Group Inc. now owns 165,819 shares of the company’s stock valued at $10,712,000 after purchasing an additional 3,423 shares in the last quarter. Finally, Wellington Management Group LLP bought a new stake in shares of Meredith Corporation in the 1st quarter valued at about $766,000. Institutional investors and hedge funds own 94.49% of the company’s stock.

About Meredith Corporation

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 and Estimates for Meredith Corporation (NYSE:MDP)

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