Meredith (MDP) Issues FY19 Earnings Guidance

Meredith (NYSE:MDP) updated its FY19 earnings guidance on Wednesday. The company provided EPS guidance of $2.78-3.20 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.08. The company issued revenue guidance of $3-3.2 billion, compared to the consensus revenue estimate of $3.10 billion.Meredith also updated its Q2 2019 guidance to EPS.

Several brokerages have commented on MDP. ValuEngine raised shares of Meredith from a strong sell rating to a sell rating in a research report on Thursday, August 16th. Citigroup lifted their price objective on shares of Meredith from $56.00 to $61.00 and gave the stock a buy rating in a research report on Tuesday, September 11th. Zacks Investment Research raised shares of Meredith from a strong sell rating to a hold rating in a research report on Friday, October 12th. Finally, Jefferies Financial Group reaffirmed a buy rating and set a $57.00 price objective on shares of Meredith in a research report on Monday, August 13th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $66.20.

Shares of NYSE:MDP opened at $57.54 on Friday. Meredith has a 12 month low of $47.30 and a 12 month high of $72.25. The company has a current ratio of 1.66, a quick ratio of 1.63 and a debt-to-equity ratio of 2.84. The firm has a market cap of $2.57 billion, a P/E ratio of 22.65 and a beta of 1.26.

Meredith (NYSE:MDP) last announced its quarterly earnings results on Wednesday, November 7th. The company reported $0.65 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.28) by $0.93. Meredith had a net margin of 4.43% and a return on equity of 13.49%. The firm had revenue of $756.70 million for the quarter, compared to analyst estimates of $751.33 million. During the same period last year, the business earned $0.73 EPS. Meredith’s revenue for the quarter was up 92.6% compared to the same quarter last year. Equities analysts expect that Meredith will post 3.05 EPS for the current fiscal year.

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Meredith Company Profile

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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Earnings History and Estimates for Meredith (NYSE:MDP)

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