Shares of Meredith Co. (NYSE:MDP) have earned an average recommendation of “Buy” from the nine research firms that are presently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $74.33.

Several research analysts have weighed in on the company. Benchmark reaffirmed a “buy” rating on shares of Meredith in a research report on Tuesday, January 30th. Zacks Investment Research raised Meredith from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a research report on Tuesday, January 23rd. Gabelli raised Meredith from a “hold” rating to a “buy” rating in a research report on Wednesday, January 31st. Jefferies Group raised Meredith from a “hold” rating to a “buy” rating and boosted their price target for the stock from $56.00 to $80.00 in a research report on Tuesday, November 28th. Finally, ValuEngine raised Meredith from a “hold” rating to a “buy” rating in a research report on Monday, November 27th.

Meredith (NYSE:MDP) opened at $55.35 on Wednesday. The firm has a market capitalization of $2,443.78, a P/E ratio of 9.16, a price-to-earnings-growth ratio of 1.47 and a beta of 1.24. Meredith has a 1 year low of $50.63 and a 1 year high of $72.25. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.10 and a current ratio of 1.15.

Meredith (NYSE:MDP) last posted its quarterly earnings results on Wednesday, January 31st. The company reported $1.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.25. The firm had revenue of $417.70 million for the quarter, compared to analyst estimates of $414.97 million. Meredith had a return on equity of 16.72% and a net margin of 16.41%. The business’s quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.30 EPS. sell-side analysts forecast that Meredith will post 4.65 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, February 28th will be issued a dividend of $0.545 per share. The ex-dividend date of this dividend is Tuesday, February 27th. This is a positive change from Meredith’s previous quarterly dividend of $0.52. This represents a $2.18 dividend on an annualized basis and a dividend yield of 3.94%. Meredith’s payout ratio is presently 34.44%.

In related news, Director Meredith D. Mell Frazier sold 22,176 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $69.85, for a total transaction of $1,548,993.60. Following the transaction, the director now directly owns 6,000 shares of the company’s stock, valued at approximately $419,100. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Joseph H. Ceryanec sold 3,200 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $71.54, for a total value of $228,928.00. The disclosure for this sale can be found here. Insiders have sold a total of 35,024 shares of company stock worth $2,443,024 over the last three months. 4.00% of the stock is owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Meredith in the 3rd quarter valued at $167,000. Strs Ohio boosted its stake in Meredith by 314.3% in the 4th quarter. Strs Ohio now owns 2,900 shares of the company’s stock valued at $191,000 after purchasing an additional 2,200 shares during the period. Shelton Capital Management bought a new stake in Meredith in the 4th quarter valued at $202,000. Janney Montgomery Scott LLC bought a new stake in Meredith in the 3rd quarter valued at $204,000. Finally, Landscape Capital Management L.L.C. bought a new stake in Meredith in the 4th quarter valued at $205,000. Institutional investors and hedge funds own 98.28% of the company’s stock.

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About Meredith

Meredith Corporation 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 Company’s Local Media segment includes 16 owned television stations, one managed television station and related digital and mobile media operations.

Analyst Recommendations for Meredith (NYSE:MDP)

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