Meredith Corporation (MDP) was Reiterated by The Benchmark Company to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 62 from a previous price target of $57 . The Benchmark Company advised their investors in a research report released on Jul 29, 2016.
On the company’s financial health, Meredith Corporation reported $1.08 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $1.03. The company had revenue of $435.80 million for the quarter, compared to analysts expectations of $437.57 million. The company’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.94 EPS.
Meredith Corporation closed down -0.24 points or -0.44% at $54.63 with 3,07,112 shares getting traded on Thursday. Post opening the session at $55.35, the shares hit an intraday low of $53.77 and an intraday high of $55.35 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
In a different news, on May 3, 2016, John S Zieser (Chief Development Officer) sold 8,783 shares at $51.21 per share price. According to the SEC, on May 3, 2016, Frederick B Henry (director) sold 1,186 shares at $51.10 per share price. On Feb 10, 2016, Donald C Berg (director) purchased 1,115 shares at $38.50 per share price, according to the Form-4 filing with the securities and exchange commission.
Meredith Corporation is a media and marketing company. The Company operates two business segments namely local media and national media. Its national media segment includes national consumer media brands delivered via multiple media platforms including print magazines and digital and mobile media brand licensing activities database-related activities and business-to-business marketing products and services. The local media segment consists of the operations of network-affiliated television stations related digital and mobile media and video creation operations. Local media segment consists of 14 owned television stations and one operated television station located across the United States in digital and mobile media and a national video creation unit.