Meredith (MDP) Earns Daily News Sentiment Rating of 0.07
Media coverage about Meredith (NYSE:MDP) has been trending somewhat positive recently, according to Accern Sentiment. The research group identifies negative and positive news coverage by monitoring more than twenty million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Meredith earned a daily sentiment score of 0.07 on Accern’s scale. Accern also gave press coverage about the company an impact score of 43.5576475500056 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.
Here are some of the media headlines that may have effected Accern’s rankings:
- Lori Brock Promoted To VP Of Finance For Meredith Local Media Group (finance.yahoo.com)
- Meredith D. Mell Frazier Sells 22,176 Shares of Meredith Corporation (MDP) Stock (americanbankingnews.com)
- Edwin T. Iv Meredith Sells 3,600 Shares of Meredith Corporation (MDP) Stock (americanbankingnews.com)
- Santa Approved Holiday Gift Guide (prweb.com)
- Top Ranked Income Stocks to Buy for December 19th (zacks.com)
A number of research analysts have weighed in on MDP shares. Zacks Investment Research raised Meredith from a “sell” rating to a “buy” rating and set a $59.00 target price on the stock in a report on Tuesday, October 31st. Wells Fargo & Company lowered their target price on Meredith from $62.00 to $54.00 and set a “market perform” rating on the stock in a report on Friday, October 27th. JMP Securities started coverage on Meredith in a report on Monday, November 13th. They issued a “market perform” rating on the stock. ValuEngine downgraded Meredith from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, Citigroup cut Meredith from a “buy” rating to a “neutral” rating in a research report on Friday, December 1st. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $71.40.
Meredith (NYSE:MDP) last issued its quarterly earnings results on Thursday, October 26th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.06. The business had revenue of $393.00 million during the quarter, compared to analysts’ expectations of $397.50 million. Meredith had a return on equity of 18.24% and a net margin of 11.04%. The business’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.75 earnings per share. equities research analysts forecast that Meredith will post 3.39 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Thursday, November 30th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date was Wednesday, November 29th. Meredith’s payout ratio is 50.36%.
In related news, major shareholder Edwin T. Iv Meredith sold 3,600 shares of the stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $70.10, for a total transaction of $252,360.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Joseph H. Ceryanec sold 3,200 shares of the stock in a transaction dated 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. In the last 90 days, insiders sold 35,024 shares of company stock valued at $2,443,024. Company insiders own 4.00% of the company’s stock.
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.
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