Brokers Offer Predictions for Meredith Corporation’s FY2022 Earnings (MDP)

Meredith Corporation (NYSE:MDP) – Research analysts at Gabelli issued their FY2022 earnings estimates for shares of Meredith Corporation in a report released on Friday. Gabelli analyst B. Lucas anticipates that the company will post earnings per share of $4.35 for the year.

Meredith Corporation (NYSE:MDP) last released its quarterly earnings data on Thursday, October 26th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.63 by $0.06. Meredith Corporation had a return on equity of 18.24% and a net margin of 11.04%. The company had revenue of $393.00 million during the quarter, compared to the consensus estimate of $397.50 million. During the same period last year, the company earned $0.75 EPS. Meredith Corporation’s revenue for the quarter was down 1.7% on a year-over-year basis.

COPYRIGHT VIOLATION WARNING: “Brokers Offer Predictions for Meredith Corporation’s FY2022 Earnings (MDP)” was originally posted by Community Financial News and is the property of of Community Financial News. If you are viewing this report on another domain, it was stolen and republished in violation of US & international copyright and trademark laws. The correct version of this report can be accessed at https://www.com-unik.info/2017/11/01/brokers-offer-predictions-for-meredith-corporations-fy2022-earnings-mdp.html.

A number of other equities research analysts have also recently commented on MDP. Jefferies Group LLC reiterated a “hold” rating and issued a $60.00 price target on shares of Meredith Corporation in a research note on Friday, July 7th. BidaskClub cut Meredith Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. ValuEngine upgraded Meredith Corporation from a “hold” rating to a “buy” rating in a research note on Friday, August 4th. Zacks Investment Research cut Meredith Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, September 26th. Finally, Wells Fargo & Company decreased their price target on Meredith Corporation from $62.00 to $54.00 and set a “market perform” rating for the company in a research note on Friday, October 27th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $60.60.

Large investors have recently made changes to their positions in the company. LS Investment Advisors LLC raised its stake in shares of Meredith Corporation by 20.8% in the second quarter. LS Investment Advisors LLC now owns 2,951 shares of the company’s stock worth $175,000 after purchasing an additional 508 shares during the last quarter. State of Alaska Department of Revenue raised its stake in shares of Meredith Corporation by 3.4% in the second quarter. State of Alaska Department of Revenue now owns 3,050 shares of the company’s stock worth $181,000 after purchasing an additional 100 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in shares of Meredith Corporation in the first quarter worth about $201,000. Crossmark Global Holdings Inc. purchased a new position in shares of Meredith Corporation in the third quarter worth about $207,000. Finally, Tudor Investment Corp ET AL purchased a new position in shares of Meredith Corporation in the first quarter worth about $224,000. Hedge funds and other institutional investors own 94.49% of the company’s stock.

In other news, insider John S. Zieser sold 1,924 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $57.26, for a total value of $110,168.24. Following the completion of the transaction, the insider now directly owns 6,800 shares in the company, valued at $389,368. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Stephen M. Lacy sold 6,736 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $57.17, for a total value of $385,097.12. Following the completion of the transaction, the chairman now owns 30,274 shares of the company’s stock, valued at $1,730,764.58. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,024 shares of company stock valued at $2,279,679. Company insiders own 4.00% of the company’s stock.

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.

Earnings History and Estimates for Meredith Corporation (NYSE:MDP)

What are top analysts saying about Meredith Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Meredith Corporation and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit