Meredith Co. (NYSE:MDP) has received an average rating of “Buy” from the nine analysts that are covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $74.33.

A number of analysts have weighed in on the company. Zacks Investment Research upgraded Meredith from a “hold” rating to a “strong-buy” rating and set a $67.00 target price for the company in a report on Monday, February 5th. Gabelli upgraded Meredith from a “hold” rating to a “buy” rating in a report on Wednesday, January 31st. Benchmark restated a “buy” rating on shares of Meredith in a report on Tuesday, January 30th. Finally, ValuEngine lowered Meredith from a “buy” rating to a “hold” rating in a report on Thursday, January 4th.

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In other news, major shareholder Edwin T. Iv Meredith sold 3,600 shares of the stock in a transaction on Friday, December 15th. The stock was sold at an average price of $70.10, for a total transaction of $252,360.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Donald C. Berg acquired 3,500 shares of the firm’s stock in a transaction dated Monday, February 5th. The shares were acquired at an average price of $57.50 per share, with a total value of $201,250.00. The disclosure for this purchase can be found here. Corporate insiders own 4.00% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of MDP. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Meredith during the 3rd quarter valued at $167,000. Strs Ohio lifted its holdings in shares of Meredith by 314.3% during the 4th quarter. Strs Ohio now owns 2,900 shares of the company’s stock valued at $191,000 after purchasing an additional 2,200 shares during the last quarter. Shelton Capital Management purchased a new stake in shares of Meredith during the 4th quarter valued at $202,000. Janney Montgomery Scott LLC purchased a new stake in shares of Meredith during the 3rd quarter valued at $204,000. Finally, Landscape Capital Management L.L.C. purchased a new stake in shares of Meredith during the 4th quarter valued at $205,000. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Meredith (NYSE:MDP) traded down $1.15 during trading on Friday, reaching $55.00. The company’s stock had a trading volume of 561,441 shares, compared to its average volume of 632,741. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.10 and a current ratio of 1.15. The stock has a market capitalization of $2,594.57, a price-to-earnings ratio of 9.30, a P/E/G ratio of 1.56 and a beta of 1.32. Meredith has a one year low of $50.63 and a one year high of $72.25.

Meredith (NYSE:MDP) last posted its earnings results on Wednesday, January 31st. The company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.25. The company had revenue of $417.70 million during the quarter, compared to analyst estimates of $414.97 million. Meredith had a return on equity of 16.72% and a net margin of 16.41%. Meredith’s revenue was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.30 earnings per share. research analysts anticipate that Meredith will post 4.65 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th will be issued a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a dividend yield of 3.96%. The ex-dividend date of this dividend is Tuesday, February 27th. This is a positive change from Meredith’s previous quarterly dividend of $0.52. Meredith’s dividend payout ratio is currently 36.09%.

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Meredith 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.

Analyst Recommendations for Meredith (NYSE:MDP)

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