Meredith Co. (NYSE:MDP) has received an average rating of “Buy” from the eight research firms that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $62.24.

Several research firms have weighed in on MDP. Zacks Investment Research cut Meredith from a “buy” rating to a “hold” rating in a research report on Tuesday, January 8th. Citigroup boosted their price target on Meredith from $61.00 to $67.00 and gave the stock a “buy” rating in a research report on Thursday, November 29th. Wolfe Research assumed coverage on Meredith in a research report on Friday, December 7th. They issued a “market perform” rating on the stock. Gabelli assumed coverage on Meredith in a research report on Thursday, February 14th. They issued a “buy” rating and a $54.97 price target on the stock. Finally, Benchmark reissued a “buy” rating and issued a $70.00 price target on shares of Meredith in a research report on Tuesday, February 12th.

Meredith stock traded down $0.52 during trading hours on Thursday, hitting $55.66. 177,943 shares of the stock traded hands, compared to its average volume of 377,471. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.19 and a current ratio of 1.25. The stock has a market cap of $2.53 billion, a price-to-earnings ratio of 21.91 and a beta of 1.17. Meredith has a one year low of $47.30 and a one year high of $62.40.

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

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 28th were given a $0.575 dividend. This is a boost from Meredith’s previous quarterly dividend of $0.55. This represents a $2.30 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date of this dividend was Wednesday, February 27th. Meredith’s payout ratio is currently 90.55%.

In related news, insider John S. Zieser sold 2,550 shares of the company’s stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $56.96, for a total value of $145,248.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 4.70% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Ceredex Value Advisors LLC raised its stake in Meredith by 43.7% during the 4th quarter. Ceredex Value Advisors LLC now owns 2,686,195 shares of the company’s stock valued at $139,521,000 after buying an additional 817,094 shares during the last quarter. Norges Bank purchased a new stake in Meredith during the 4th quarter valued at $21,927,000. Lancaster Investment Management LLP purchased a new stake in Meredith during the 4th quarter valued at $17,063,000. Royce & Associates LP raised its stake in Meredith by 16.8% during the 3rd quarter. Royce & Associates LP now owns 2,253,111 shares of the company’s stock valued at $115,021,000 after buying an additional 323,395 shares during the last quarter. Finally, Fort Pitt Capital Group LLC purchased a new stake in Meredith during the 4th quarter valued at $9,932,000.

About Meredith

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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