Meredith Corp. (NYSE: MDP)‘s stock had its “neutral” rating reiterated by Zacks in a report released on Thursday, Analyst Ratings Network reports. They currently have a $50.00 target price on the stock. Zacks‘ target price would indicate a potential upside of 4.82% from the stock’s previous close.
Zacks‘ analyst wrote, “Meredith boasts a strong portfolio of women’s magazines, which helps it gain market share. The company remains focused on bolstering digital advertising revenue enhancing online consumer transactions, especially magazine subscription orders and is lowering its dependency on traditional advertising by laying more emphasis on brand licensing, marketing services and e-Commerce to make it less susceptible to economic downturns. Moreover, Meredith is aggressively expanding its brands through online platforms, televisions, videos and tablet products. We believe these measures provide ample growth opportunities to increase its revenue generating capabilities and in turn, enhance profitability. However, we are cautious about the stock’s prospects as persisting macroeconomic headwinds will weigh upon its top-line performance, and consequently, affect profitability. “
Meredith Corp. (NYSE: MDP) traded up 0.63% on Thursday, hitting $47.70. Meredith Corp. has a 1-year low of $29.27 and a 1-year high of $48.54. The stock’s 50-day moving average is currently $43.55. The company has a market cap of $2.122 billion and a price-to-earnings ratio of 17.82.
Meredith Corp. (NYSE: MDP) last posted its quarterly earnings results on Thursday, April 25th. The company reported $0.72 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.68 by $0.04. The company had revenue of $369.62 million for the quarter, compared to the consensus estimate of $354.43 million. During the same quarter last year, the company posted $0.66 earnings per share. Meredith Corp.’s revenue was up 7.0% compared to the same quarter last year. Meredith Corp. has set its Q4 guidance at $0.68-0.73 EPS. On average, analysts predict that Meredith Corp. will post $2.88 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Meredith Corp. in a research note to investors on Tuesday, June 18th. They now have a $41.00 price target on the stock, up previously from $37.00. Separately, analysts at Benchmark Co. raised their price target on shares of Meredith Corp. from $39.00 to $43.00 in a research note to investors on Thursday, June 13th. They now have a “hold” rating on the stock. Finally, analysts at Ned Davis Research downgraded shares of Meredith Corp. from a “buy” rating to a “neutral” rating in a research note to investors on Monday, June 10th.
Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $46.83.
Meredith Corporation (NYSE: MDP) is a media and marketing company.
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