Meredith (NYSE:MDP) was upgraded by investment analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
Several other analysts also recently weighed in on the company. Citigroup upgraded Meredith from a “neutral” rating to a “buy” rating in a research report on Wednesday, May 30th. Zacks Investment Research downgraded Meredith from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. Benchmark decreased their price objective on Meredith from $77.00 to $70.00 and set a “buy” rating for the company in a report on Tuesday, May 15th. Jefferies Financial Group restated a “buy” rating and issued a $57.00 price objective on shares of Meredith in a report on Monday, August 13th. Finally, TheStreet downgraded Meredith from a “b” rating to a “c+” rating in a report on Thursday, May 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $67.50.
NYSE:MDP opened at $51.45 on Wednesday. Meredith has a twelve month low of $47.30 and a twelve month high of $72.25. The firm has a market cap of $2.30 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 0.62 and a beta of 1.55. The company has a quick ratio of 1.63, a current ratio of 1.66 and a debt-to-equity ratio of 2.84.
Meredith (NYSE:MDP) last released its earnings results on Friday, August 10th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.93). Meredith had a return on equity of 12.17% and a net margin of 4.42%. The business had revenue of $788.10 million for the quarter, compared to the consensus estimate of $787.26 million. During the same quarter last year, the business posted $1.07 earnings per share. The firm’s revenue for the quarter was up 76.9% compared to the same quarter last year.
Hedge funds have recently added to or reduced their stakes in the stock. Adviser Investments LLC bought a new stake in shares of Meredith in the first quarter valued at about $133,000. Lido Advisors LLC bought a new stake in shares of Meredith in the first quarter valued at about $210,000. GW&K Investment Management LLC bought a new stake in shares of Meredith in the first quarter valued at about $211,000. Verition Fund Management LLC bought a new stake in shares of Meredith in the first quarter valued at about $228,000. Finally, Crossmark Global Holdings Inc. bought a new stake in shares of Meredith in the second quarter valued at about $229,000. Hedge funds and other institutional investors own 95.24% of the company’s stock.
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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To view ValuEngine’s full report, visit ValuEngine’s official website.
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