Zacks: Analysts Expect Meredith Corporation (MDP) to Announce $0.91 Earnings Per Share

Equities research analysts forecast that Meredith Corporation (NYSE:MDP) will post earnings per share (EPS) of $0.91 for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Meredith’s earnings, with estimates ranging from $0.90 to $0.91. Meredith posted earnings per share of $1.30 in the same quarter last year, which would suggest a negative year over year growth rate of 30%. The company is expected to report its next earnings results on Wednesday, January 24th.

According to Zacks, analysts expect that Meredith will report full year earnings of $3.39 per share for the current fiscal year, with EPS estimates ranging from $3.34 to $3.46. For the next year, analysts anticipate that the business will post earnings of $3.87 per share, with EPS estimates ranging from $3.67 to $4.00. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that follow Meredith.

Meredith (NYSE:MDP) last released its earnings results on Thursday, October 26th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.06. The company had revenue of $393.00 million during the quarter, compared to the consensus estimate of $397.50 million. Meredith had a return on equity of 18.24% and a net margin of 11.04%. Meredith’s revenue was down 1.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.75 EPS.

Several equities analysts have weighed in on the company. Jefferies Group reaffirmed a “hold” rating and issued a $60.00 target price on shares of Meredith in a research report on Monday, October 16th. Benchmark reaffirmed a “buy” rating and issued a $77.00 target price (up from $67.00) on shares of Meredith in a research report on Monday, November 27th. ValuEngine raised Meredith from a “hold” rating to a “buy” rating in a research report on Monday, November 27th. Citigroup downgraded Meredith from a “buy” rating to a “neutral” rating in a research report on Friday, December 1st. Finally, BidaskClub downgraded Meredith from a “buy” rating to a “hold” rating in a research report on Tuesday, August 22nd. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $71.40.

In other news, Director Frederick B. Henry sold 1,048 shares of the business’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $66.50, for a total transaction of $69,692.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul Karpowicz sold 5,000 shares of the business’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $68.61, for a total value of $343,050.00. The disclosure for this sale can be found here. Insiders own 4.00% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. LS Investment Advisors LLC grew its position in shares of Meredith by 20.8% during the second quarter. LS Investment Advisors LLC now owns 2,951 shares of the company’s stock worth $175,000 after buying an additional 508 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Meredith during the third quarter worth about $167,000. State of Alaska Department of Revenue grew its position in shares of Meredith by 3.4% during the second quarter. State of Alaska Department of Revenue now owns 3,050 shares of the company’s stock worth $181,000 after buying an additional 100 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of Meredith during the third quarter worth about $204,000. Finally, Crossmark Global Holdings Inc. acquired a new position in shares of Meredith during the third quarter worth about $207,000. 98.04% of the stock is owned by institutional investors and hedge funds.

Meredith (NYSE:MDP) traded up $0.45 during midday trading on Monday, reaching $71.65. The company’s stock had a trading volume of 567,789 shares, compared to its average volume of 729,587. The firm has a market cap of $3,110.00, a P/E ratio of 18.12, a P/E/G ratio of 2.63 and a beta of 1.29. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.04 and a current ratio of 1.08. Meredith has a 52 week low of $50.62 and a 52 week high of $71.85.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date is Wednesday, November 29th. Meredith’s dividend payout ratio is presently 50.24%.

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Meredith Company Profile

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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Earnings History and Estimates for Meredith (NYSE:MDP)

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