Meredith (MDP) Rating Increased to Buy at Citigroup

Meredith (NYSE:MDP) was upgraded by stock analysts at Citigroup from a “neutral” rating to a “buy” rating in a research report issued on Wednesday, MarketBeat.com reports.

Several other research firms have also weighed in on MDP. Gabelli upgraded shares of Meredith from a “hold” rating to a “buy” rating in a report on Wednesday, January 31st. ValuEngine lowered shares of Meredith from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Zacks Investment Research lowered shares of Meredith from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 3rd. Benchmark restated a “buy” rating on shares of Meredith in a report on Tuesday, January 30th. Finally, TheStreet lowered shares of Meredith from a “b” rating to a “c+” rating in a report on Thursday, May 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $73.25.

Meredith opened at $50.35 on Wednesday, MarketBeat.com reports. The company has a current ratio of 1.71, a quick ratio of 1.67 and a debt-to-equity ratio of 2.75. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 0.91 and a beta of 1.42. Meredith has a 1-year low of $47.45 and a 1-year high of $72.25.

Meredith (NYSE:MDP) last posted its earnings results on Thursday, May 10th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.33. The company had revenue of $648.80 million for the quarter, compared to analyst estimates of $752.28 million. Meredith had a net margin of 6.62% and a return on equity of 15.46%. Meredith’s revenue was up 52.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.87 EPS. equities analysts expect that Meredith will post 4.8 EPS for the current fiscal year.

In related news, Director Donald C. Berg acquired 4,000 shares of the firm’s stock in a transaction dated Tuesday, May 29th. The shares were purchased at an average cost of $48.20 per share, for a total transaction of $192,800.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.00% of the company’s stock.

Several hedge funds have recently modified their holdings of MDP. Strs Ohio increased its stake in Meredith by 314.3% during the 4th quarter. Strs Ohio now owns 2,900 shares of the company’s stock worth $191,000 after buying an additional 2,200 shares during the period. SG Americas Securities LLC increased its stake in Meredith by 33.0% during the 4th quarter. SG Americas Securities LLC now owns 10,038 shares of the company’s stock worth $663,000 after buying an additional 2,490 shares during the period. Mutual of America Capital Management LLC increased its stake in Meredith by 3.4% during the 4th quarter. Mutual of America Capital Management LLC now owns 32,944 shares of the company’s stock worth $2,176,000 after buying an additional 1,085 shares during the period. Parametrica Management Ltd increased its stake in Meredith by 88.1% during the 4th quarter. Parametrica Management Ltd now owns 8,120 shares of the company’s stock worth $536,000 after buying an additional 3,803 shares during the period. Finally, Comerica Bank increased its stake in Meredith by 61.3% during the 4th quarter. Comerica Bank now owns 70,583 shares of the company’s stock worth $4,708,000 after buying an additional 26,832 shares during the period. Hedge funds and other institutional investors own 95.24% of the company’s stock.

Meredith Company Profile

Meredith Corporation operates as a diversified media company in the United States. It operates in two segments, Local Media and National Media. The Local Media segment operates television stations, such as 7 CBS affiliates, 5 FOX affiliates, 2 MyNetworkTV affiliates, 1 NBC affiliate, 1 ABC affiliate, and 2 independent stations.

Analyst Recommendations for Meredith (NYSE:MDP)

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