Meredith Corporation (NYSE:MDP) Earns Daily Media Impact Rating of 0.17
Press coverage about Meredith Corporation (NYSE:MDP) has trended somewhat positive on Sunday, Accern Sentiment Analysis reports. Accern identifies negative and positive news coverage by analyzing more than 20 million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Meredith Corporation earned a media sentiment score of 0.17 on Accern’s scale. Accern also assigned news headlines about the company an impact score of 46.2402731551563 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the next few days.
These are some of the headlines that may have impacted Accern Sentiment Analysis’s analysis:
- Meredith Corporation (MDP) Stock Rating Upgraded by ValuEngine (americanbankingnews.com)
- Meredith Corp. breached its 50 day moving average in a Bearish Manner : MDP-US : August 4, 2017 (finance.yahoo.com)
- MDP Makes Notable Cross Below Critical Moving Average (nasdaq.com)
- Stephen M. Lacy Sells 10,339 Shares of Meredith Corporation (MDP) Stock (americanbankingnews.com)
- Meredith Corporation (NYSE:MDP) CEO Stephen M. Lacy Sells 10,268 Shares (americanbankingnews.com)
Shares of Meredith Corporation (NYSE:MDP) traded up 0.70% during mid-day trading on Friday, hitting $57.85. 137,465 shares of the company traded hands. The firm’s 50 day moving average price is $59.07 and its 200-day moving average price is $60.00. The stock has a market capitalization of $2.59 billion, a PE ratio of 13.91 and a beta of 1.22. Meredith Corporation has a 1-year low of $43.85 and a 1-year high of $66.25.
Meredith Corporation (NYSE:MDP) last announced its quarterly earnings results on Thursday, July 27th. The company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.11. The business had revenue of $445.40 million for the quarter, compared to analyst estimates of $439.61 million. Meredith Corporation had a net margin of 11.03% and a return on equity of 18.98%. The company’s revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.08 EPS. On average, equities research analysts forecast that Meredith Corporation will post $3.38 EPS for the current year.
Several analysts recently weighed in on MDP shares. BidaskClub raised shares of Meredith Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, June 15th. Zacks Investment Research cut shares of Meredith Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, May 25th. Citigroup Inc. raised shares of Meredith Corporation from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $58.00 to $65.00 in a research note on Tuesday, May 2nd. Jefferies Group LLC reissued a “hold” rating and issued a $60.00 price objective on shares of Meredith Corporation in a research note on Friday, July 7th. Finally, ValuEngine raised shares of Meredith Corporation from a “hold” rating to a “buy” rating in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $63.50.
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In other news, Chairman Stephen M. Lacy sold 10,339 shares of Meredith Corporation stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $60.91, for a total transaction of $629,748.49. Following the sale, the chairman now owns 9,345 shares of the company’s stock, valued at approximately $569,203.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stephen M. Lacy sold 10,268 shares of Meredith Corporation stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $60.92, for a total transaction of $625,526.56. Following the sale, the chief executive officer now directly owns 9,345 shares in the company, valued at approximately $569,297.40. The disclosure for this sale can be found here. In the last three months, insiders sold 40,635 shares of company stock worth $2,466,168. Insiders own 12.40% 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.
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