Meredith Corp. (NYSE:MDP) shares dropped 1.2% during mid-day trading on Monday . The company traded as low as $52.88 and last traded at $53.11, with a volume of 95,346 shares. The stock had previously closed at $53.73.

MDP has been the subject of a number of research analyst reports. Benchmark Co. raised their price target on shares of Meredith Corp. from $57.00 to $62.00 and gave the stock a “buy” rating in a report on Friday, July 29th. Zacks Investment Research raised shares of Meredith Corp. from a “sell” rating to a “buy” rating and set a $58.00 price target for the company in a report on Tuesday, May 3rd. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Meredith Corp. presently has a consensus rating of “Hold” and an average target price of $53.83.

The stock has a 50-day moving average of $54.56 and a 200 day moving average of $49.55. The firm has a market capitalization of $2.36 billion and a PE ratio of 70.61.

Meredith Corp. (NYSE:MDP) last announced its earnings results on Thursday, July 28th. The company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.05. During the same period in the previous year, the company earned $0.94 earnings per share. The business had revenue of $435.78 million for the quarter, compared to analysts’ expectations of $437.78 million. Meredith Corp.’s quarterly revenue was up 2.3% on a year-over-year basis. Equities analysts forecast that Meredith Corp. will post $3.70 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Wednesday, August 31st will be paid a dividend of $0.495 per share. This represents a $1.98 annualized dividend and a yield of 3.74%. The ex-dividend date is Monday, August 29th.

In other Meredith Corp. news, CFO Joseph H. Ceryanec sold 9,145 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $54.03, for a total transaction of $494,104.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Edwin T. Iv Meredith purchased 15,628 shares of the stock in a transaction on Friday, June 10th. The shares were purchased at an average price of $51.24 per share, with a total value of $800,778.72. Following the acquisition, the insider now directly owns 243,412 shares in the company, valued at $12,472,430.88. The disclosure for this purchase can be found here.

Meredith Corporation is a media and marketing company. The Company operates two business segments namely local media and national media. Its national media segment includes national consumer media brands delivered via multiple media platforms including print magazines and digital and mobile media, brand licensing activities, database-related activities and business-to-business marketing products and services.

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