Meredith (NYSE:MDP) posted its earnings results on Wednesday. The company reported $0.65 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.28) by $0.93, Fidelity Earnings reports. Meredith had a return on equity of 13.49% and a net margin of 4.43%. The business had revenue of $756.70 million during the quarter, compared to analysts’ expectations of $751.33 million. During the same period in the previous year, the business earned $0.73 earnings per share. The firm’s revenue was up 92.6% on a year-over-year basis. Meredith updated its FY19 guidance to $2.78-3.20 EPS and its Q2 2019 guidance to EPS.
Meredith stock traded down $2.84 during midday trading on Thursday, hitting $57.54. 525,524 shares of the company’s stock were exchanged, compared to its average volume of 538,696. Meredith has a 52-week low of $47.30 and a 52-week high of $72.25. The company has a quick ratio of 1.63, a current ratio of 1.66 and a debt-to-equity ratio of 2.84. The stock has a market cap of $2.57 billion, a price-to-earnings ratio of 22.65 and a beta of 1.26.
MDP has been the subject of several recent analyst reports. ValuEngine upgraded Meredith from a “hold” rating to a “buy” rating in a research report on Tuesday, October 9th. Citigroup boosted their target price on Meredith from $56.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, September 11th. Jefferies Financial Group restated a “buy” rating and set a $57.00 target price on shares of Meredith in a research report on Monday, August 13th. Finally, Zacks Investment Research upgraded Meredith from a “strong sell” rating to a “hold” rating in a research report on Friday, October 12th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $66.20.
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.
Further Reading: Inflation
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