Meredith Corporation (MDP) Getting Somewhat Favorable News Coverage, Report Finds
News headlines about Meredith Corporation (NYSE:MDP) have been trending somewhat positive recently, according to Accern Sentiment. Accern identifies negative and positive press coverage by reviewing more than 20 million news and blog sources in real-time. Accern ranks coverage of publicly-traded 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 0.20 on Accern’s scale. Accern also gave media coverage about the company an impact score of 45.2138469772301 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
Here are some of the news headlines that may have impacted Accern’s rankings:
- Meredith Corporation (MDP) Insider Paul Karpowicz Sells 4,291 Shares (americanbankingnews.com)
- Stephen M. Lacy Sells 10,816 Shares of Meredith Corporation (MDP) Stock (americanbankingnews.com)
- Meredith Corp. – Value Analysis (NYSE:MDP) : August 17, 2017 (finance.yahoo.com)
- Meredith : Better Homes & Gardens Magazine Unveils Seventh Annual September Stylemaker Issue (4-traders.com)
- Earnings Review and Free Research Report: Thomson Reuters’ Adjusted EPS Soared 28%; Topped Estimates (finance.yahoo.com)
Several equities analysts have weighed in on MDP shares. Jefferies Group LLC reaffirmed a “hold” rating and set a $60.00 target price on shares of Meredith Corporation in a research note on Friday, July 7th. BidaskClub raised Meredith Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, June 15th. Zacks Investment Research raised Meredith Corporation from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a research note on Friday, May 26th. Citigroup Inc. raised Meredith Corporation from a “neutral” rating to a “buy” rating and lifted their target price for the company from $58.00 to $65.00 in a research note on Tuesday, May 2nd. Finally, Benchmark Co. raised Meredith Corporation from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research note on Monday, June 5th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $63.50.
Shares of Meredith Corporation (NYSE MDP) opened at 55.05 on Friday. Meredith Corporation has a 52 week low of $43.85 and a 52 week high of $66.25. The company has a market cap of $2.46 billion, a PE ratio of 13.23 and a beta of 1.22. The company has a 50 day moving average price of $58.79 and a 200 day moving average price of $59.91.
Meredith Corporation (NYSE:MDP) last announced its earnings results on Thursday, July 27th. The company reported $1.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.11. Meredith Corporation had a return on equity of 18.98% and a net margin of 11.03%. The business 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 earned $1.08 EPS. Meredith Corporation’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, equities analysts expect that Meredith Corporation will post $3.38 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors 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 yield of 3.78%. The ex-dividend date of this dividend is Tuesday, August 29th. Meredith Corporation’s dividend payout ratio is presently 50.12%.
In related news, insider Paul Karpowicz sold 4,291 shares of Meredith Corporation stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $56.12, for a total value of $240,810.92. Following the sale, the insider now owns 66,473 shares of the company’s stock, valued at approximately $3,730,464.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Stephen M. Lacy sold 10,339 shares of Meredith Corporation stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $60.91, for a total value of $629,748.49. Following the completion of the sale, 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. In the last three months, insiders sold 80,659 shares of company stock worth $4,745,847. 12.40% of the stock is owned by insiders.
Meredith Corporation Company Profile
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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