Meredith Corporation (NYSE:MDP):
Meredith Corporation Launches New Video Series ‘Office Hours’.
The company is so far trading up by 1.48 percent from yesterday’s close.
Meredith Corporation also declared a dividend that was paid on Thursday the 15th of June 2017. The dividend payment was $0.520 per share for the quarter which is $2.08 annualized. This dividend amount was represent a yeild of $3.55. The ex-dividend date was Friday the 26th of May 2017.
Meredith Corporation, launched on August 09, 1905, is a diversified media company. The Company is focused primarily on the home and family marketplace. The Company operates through two segments: Local Media and National Media. As of June 30, 2016, the Business’s Local Media segment includes 16 owned television stations, one managed television station and related digital and mobile media operations. Its National Media segment includes magazine publishing, custom content and customer relationship marketing, digital and mobile media, brand licensing, database-related activities, and other related operations..
Shares are trading at $58.35 slightly over $55.88, the stock’s 50 day moving average and a tad under the 200 day moving average of $59.80. The 50 day moving average was up by +4.34% whereas the 200 day moving average was down $-1.50 or -2.50%.
The company currently has a P/E ratio of 48.02 and the market cap of the company is 2.60B. As of the latest earnings report the EPS was $1.21 and is projected to be $3.89 for the current year with 44,589,000 shares currently outstanding. Analysts expect next quarter’s EPS to be $0.61 with next year’s EPS projected to be $3.42.
Analysts have provided guidance on Meredith Corporation of late. On June 5 the stock rating was upgraded to “Buy” from “Buy” by Benchmark. January 28 investment analysts at FBR Capital kept the company rating at “Market Perform” but lowered the price expectation from $48.00 to $42.00.
On December 16, 2015 the stock rating was set at “Hold” according to a Gabelli & Co report up from the previous “Sell” rating. Stephens & Co. began coverage giving it an initial rating of “Equal-weight” and projecting a price target of $50.00.
On July 21 analysts at Jefferies released its first research report on the stock setting a rating of “Hold” and a price target of $55.00. Equity analyst Wells Fargo issued its first research report on the stock with an initial rating of “Market Perform”.