Shares of Meredith Co. (NYSE:MDP) have received a consensus recommendation of “Hold” from the six research firms that are presently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $33.00.
MDP has been the topic of a number of research analyst reports. Citigroup lowered their target price on Meredith from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Monday, June 29th. Benchmark downgraded Meredith from a “buy” rating to a “hold” rating in a research report on Friday, August 14th.
Shares of NYSE MDP traded down $0.60 during mid-day trading on Monday, reaching $12.73. 18,063 shares of the company traded hands, compared to its average volume of 1,328,798. The stock has a market cap of $635.47 million, a PE ratio of -1.22 and a beta of 1.68. The company’s fifty day moving average is $14.16 and its two-hundred day moving average is $15.16. The company has a debt-to-equity ratio of 7.68, a quick ratio of 1.16 and a current ratio of 1.21. Meredith has a fifty-two week low of $10.01 and a fifty-two week high of $39.84.
Meredith (NYSE:MDP) last released its earnings results on Thursday, August 13th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.33). Meredith had a negative net margin of 8.23% and a positive return on equity of 27.06%.
Several hedge funds have recently made changes to their positions in the business. Point72 Hong Kong Ltd bought a new position in shares of Meredith in the 2nd quarter valued at $33,000. Fifth Third Bancorp grew its holdings in Meredith by 59.0% during the 2nd quarter. Fifth Third Bancorp now owns 2,695 shares of the company’s stock worth $39,000 after acquiring an additional 1,000 shares during the period. Public Employees Retirement System of Ohio grew its stake in shares of Meredith by 26.5% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 3,974 shares of the company’s stock valued at $58,000 after buying an additional 832 shares during the period. Oppenheimer Asset Management Inc. acquired a new stake in shares of Meredith in the 1st quarter valued at about $65,000. Finally, PNC Financial Services Group Inc. grew its stake in shares of Meredith by 59.1% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,873 shares of the company’s stock valued at $70,000 after buying an additional 1,811 shares during the period. Institutional investors own 91.50% of the company’s stock.
Meredith Corporation operates as a diversified media company in the United States, Europe, and Asia. It operates in two segments, National Media and Local Media. The National Media segment offers national consumer media brands through various media platforms, including print magazines, digital and mobile media, brand licensing activities, database-related activities, affinity marketing, and business-to-business marketing products and services.
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