Meredith (MDP) Upgraded to “Buy” at ValuEngine

ValuEngine upgraded shares of Meredith (NYSE:MDP) from a hold rating to a buy rating in a research note published on Monday, ValuEngine reports.

Several other equities analysts have also issued reports on the stock. Zacks Investment Research raised shares of Meredith from a sell rating to a hold rating in a report on Tuesday, February 26th. Gabelli started coverage on shares of Meredith in a report on Thursday, February 14th. They issued a buy rating and a $54.97 price target on the stock. Finally, Benchmark reaffirmed a buy rating and issued a $70.00 price target on shares of Meredith in a report on Tuesday, February 12th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $61.39.

Shares of MDP stock opened at $60.44 on Monday. The company has a market cap of $2.67 billion, a P/E ratio of 23.80 and a beta of 1.16. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.19 and a current ratio of 1.25. Meredith has a 52-week low of $47.30 and a 52-week high of $62.40.

Meredith (NYSE:MDP) last issued its quarterly earnings data on Monday, February 11th. The company reported $1.53 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.29 by $0.24. The company had revenue of $853.50 million for the quarter, compared to analyst estimates of $859.28 million. Meredith had a negative net margin of 1.89% and a positive return on equity of 16.96%. Meredith’s revenue was up 104.3% compared to the same quarter last year. During the same period last year, the company posted $1.14 earnings per share. Sell-side analysts anticipate that Meredith will post 3.95 earnings per share for the current fiscal year.

In other Meredith news, insider John S. Zieser sold 2,550 shares of Meredith stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $56.96, for a total value of $145,248.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. 4.70% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Teton Advisors Inc. grew its holdings in Meredith by 22.7% in the fourth quarter. Teton Advisors Inc. now owns 33,000 shares of the company’s stock worth $1,714,000 after purchasing an additional 6,100 shares during the last quarter. Riverhead Capital Management LLC grew its holdings in shares of Meredith by 40.2% during the third quarter. Riverhead Capital Management LLC now owns 7,670 shares of the company’s stock valued at $391,000 after buying an additional 2,200 shares during the last quarter. Affinity Investment Advisors LLC grew its holdings in shares of Meredith by 8.6% during the fourth quarter. Affinity Investment Advisors LLC now owns 10,396 shares of the company’s stock valued at $540,000 after buying an additional 823 shares during the last quarter. Mackenzie Financial Corp grew its holdings in shares of Meredith by 67.1% during the third quarter. Mackenzie Financial Corp now owns 63,322 shares of the company’s stock valued at $3,233,000 after buying an additional 25,432 shares during the last quarter. Finally, AMG National Trust Bank grew its holdings in shares of Meredith by 1,397.3% during the fourth quarter. AMG National Trust Bank now owns 62,677 shares of the company’s stock valued at $3,255,000 after buying an additional 58,491 shares during the last quarter.

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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Analyst Recommendations for Meredith (NYSE:MDP)

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