Zacks: Analysts Anticipate Meredith Co. (MDP) to Post $0.87 Earnings Per Share

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Equities research analysts expect Meredith Co. (NYSE:MDP) to post earnings of $0.87 per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Meredith’s earnings. The lowest EPS estimate is $0.72 and the highest is $1.02. Meredith posted earnings of $1.07 per share in the same quarter last year, which suggests a negative year over year growth rate of 18.7%. The firm is expected to announce its next earnings results before the market opens on Friday, August 10th.

According to Zacks, analysts expect that Meredith will report full-year earnings of $3.55 per share for the current fiscal year. For the next financial year, analysts anticipate that the company will report earnings of $5.35 per share, with EPS estimates ranging from $3.05 to $7.86. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Meredith.

Meredith (NYSE:MDP) last released its quarterly earnings results on Friday, August 10th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.93). Meredith had a net margin of 4.42% and a return on equity of 12.17%. The business had revenue of $788.10 million during the quarter, compared to analyst estimates of $787.26 million. During the same quarter in the previous year, the firm posted $1.07 earnings per share. The firm’s quarterly revenue was up 76.9% on a year-over-year basis.

A number of equities research analysts have recently weighed in on the stock. ValuEngine upgraded shares of Meredith from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 16th. Jefferies Financial Group reiterated a “buy” rating and issued a $57.00 price target on shares of Meredith in a research report on Monday, August 13th. Zacks Investment Research downgraded shares of Meredith from a “hold” rating to a “sell” rating in a research report on Tuesday, July 24th. Benchmark reissued a “buy” rating and issued a $70.00 price objective on shares of Meredith in a research note on Tuesday, June 12th. Finally, Citigroup raised shares of Meredith from a “neutral” rating to a “buy” rating in a research note on Wednesday, May 30th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $67.50.

In other Meredith news, Director Donald C. Berg acquired 4,000 shares of Meredith stock in a transaction that occurred on Tuesday, May 29th. The shares were bought at an average price of $48.20 per share, with a total value of $192,800.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.00% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. FDx Advisors Inc. acquired a new position in Meredith in the first quarter valued at $705,000. NJ State Employees Deferred Compensation Plan acquired a new position in Meredith in the first quarter valued at $592,000. Wells Fargo & Company MN lifted its holdings in Meredith by 43.0% in the first quarter. Wells Fargo & Company MN now owns 156,050 shares of the company’s stock valued at $8,396,000 after buying an additional 46,919 shares during the period. Comerica Bank lifted its holdings in Meredith by 26.1% in the first quarter. Comerica Bank now owns 88,974 shares of the company’s stock valued at $4,662,000 after buying an additional 18,391 shares during the period. Finally, New York State Teachers Retirement System lifted its holdings in Meredith by 2.0% in the first quarter. New York State Teachers Retirement System now owns 71,922 shares of the company’s stock valued at $3,869,000 after buying an additional 1,400 shares during the period. 95.24% of the stock is currently owned by institutional investors.

NYSE MDP opened at $52.45 on Friday. The company has a debt-to-equity ratio of 2.84, a current ratio of 1.66 and a quick ratio of 1.63. Meredith has a 1-year low of $47.30 and a 1-year high of $72.25. The company has a market capitalization of $2.27 billion, a PE ratio of 13.93, a price-to-earnings-growth ratio of 0.61 and a beta of 1.55.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 14th. Investors of record on Friday, August 31st will be paid a $0.545 dividend. The ex-dividend date is Thursday, August 30th. This represents a $2.18 annualized dividend and a dividend yield of 4.16%. Meredith’s dividend payout ratio is 54.50%.

About Meredith

Meredith Corporation operates as a diversified media company in the United States. It operates in two segments, Local Media and National Media. The Local Media segment operates television stations, such as 7 CBS affiliates, 5 FOX affiliates, 2 MyNetworkTV affiliates, 1 NBC affiliate, 1 ABC affiliate, and 2 independent stations.

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