Meredith (NYSE:MDP) had its price target lowered by equities research analysts at Citigroup from $20.00 to $18.00 in a research report issued to clients and investors on Monday, The Fly reports. The brokerage presently has a “buy” rating on the stock. Citigroup‘s price target would indicate a potential upside of 20.81% from the stock’s current price.
Separately, TheStreet lowered shares of Meredith from a “c” rating to a “d” rating in a report on Thursday, May 14th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $35.33.
Meredith stock opened at $14.90 on Monday. Meredith has a 52-week low of $10.01 and a 52-week high of $56.86. The firm has a market capitalization of $674.72 million, a price-to-earnings ratio of -2.05 and a beta of 1.69. The company has a fifty day simple moving average of $15.53 and a 200-day simple moving average of $22.28. The company has a quick ratio of 1.18, a current ratio of 1.23 and a debt-to-equity ratio of 4.75.
Meredith (NYSE:MDP) last announced its quarterly earnings data on Thursday, May 14th. The company reported $0.49 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.32 by ($0.83). Meredith had a negative net margin of 8.39% and a positive return on equity of 32.80%. The firm had revenue of $701.70 million during the quarter.
A number of hedge funds have recently made changes to their positions in the business. Royal Bank of Canada boosted its stake in Meredith by 194.2% during the first quarter. Royal Bank of Canada now owns 131,604 shares of the company’s stock worth $1,607,000 after buying an additional 86,876 shares during the period. New Mexico Educational Retirement Board boosted its stake in Meredith by 39.1% during the first quarter. New Mexico Educational Retirement Board now owns 9,600 shares of the company’s stock worth $117,000 after buying an additional 2,700 shares during the period. FDx Advisors Inc. purchased a new position in Meredith during the first quarter worth about $193,000. Voloridge Investment Management LLC boosted its stake in Meredith by 145.5% during the first quarter. Voloridge Investment Management LLC now owns 148,968 shares of the company’s stock worth $1,820,000 after buying an additional 88,298 shares during the period. Finally, Advisor Group Holdings Inc. purchased a new position in Meredith during the first quarter worth about $253,000. 91.63% of the stock is owned by institutional investors.
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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