Meredith Corporation (MDP) Earns Media Sentiment Score of 0.15
Media stories about Meredith Corporation (NYSE:MDP) have been trending somewhat positive recently, according to Accern Sentiment Analysis. The research group rates the sentiment of media coverage by reviewing more than twenty million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Meredith Corporation earned a news sentiment score of 0.15 on Accern’s scale. Accern also assigned news stories about the company an impact score of 45.099646485551 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.
Here are some of the media headlines that may have effected Accern Sentiment’s analysis:
- Meredith Corporation (NYSE:MDP) Expected to Post Quarterly Sales of $397.05 Million (americanbankingnews.com)
- IHS Markit Score Update: Drop in demand for ETFs holding Meredith Corp is a negative sign for its shares (finance.yahoo.com)
- IHS Markit Score Update: Rise in demand for ETFs holding Meredith Corp is a positive for its shares (finance.yahoo.com)
- Meredith Corporation’s (MDP) “Hold” Rating Reiterated at Jefferies Group LLC (americanbankingnews.com)
- Meredith Corporation to Issue Quarterly Dividend of $0.52 (MDP) (americanbankingnews.com)
A number of equities research analysts recently weighed in on MDP shares. Jefferies Group LLC reaffirmed a “hold” rating and set a $60.00 price target on shares of Meredith Corporation in a report on Friday, July 7th. BidaskClub raised shares of Meredith Corporation from a “hold” rating to a “buy” rating in a report on Thursday, June 15th. Zacks Investment Research raised shares of Meredith Corporation from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a report on Friday, May 26th. Citigroup Inc. raised shares of Meredith Corporation from a “neutral” rating to a “buy” rating and raised their price target for the company from $58.00 to $65.00 in a report on Tuesday, May 2nd. Finally, Benchmark Co. raised shares of Meredith Corporation from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a report on Monday, June 5th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Meredith Corporation presently has an average rating of “Buy” and an average target price of $63.50.
Meredith Corporation (MDP) traded down 0.70% during midday trading on Friday, reaching $56.80. 345,012 shares of the company were exchanged. The firm has a market cap of $2.54 billion, a P/E ratio of 13.65 and a beta of 1.22. Meredith Corporation has a one year low of $43.85 and a one year high of $66.25. The firm’s 50-day moving average is $59.03 and its 200-day moving average is $60.00.
Meredith Corporation (NYSE:MDP) last released its quarterly earnings results on Thursday, July 27th. The company reported $1.07 EPS for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.11. Meredith Corporation had a net margin of 11.03% and a return on equity of 18.98%. The company had revenue of $445.40 million for the quarter, compared to analyst estimates of $439.61 million. During the same quarter last year, the firm posted $1.08 earnings per share. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, equities analysts expect that Meredith Corporation will post $3.38 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date is Tuesday, August 29th. Meredith Corporation’s dividend payout ratio is 50.12%.
In related news, insider Thomas H. Harty sold 10,363 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $57.80, for a total transaction of $598,981.40. Following the transaction, the insider now owns 14,445 shares of the company’s stock, valued at $834,921. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Stephen M. Lacy sold 10,339 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $60.91, for a total transaction of $629,748.49. Following the transaction, the chairman now directly owns 9,345 shares in the company, valued at approximately $569,203.95. The disclosure for this sale can be found here. Insiders have sold 50,998 shares of company stock worth $3,065,149 in the last ninety days. 12.40% of the stock is currently owned by insiders.
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.
Receive News & Ratings for Meredith Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meredith Corporation and related companies with MarketBeat.com's FREE daily email newsletter.