Media General Inc (MEG) was Reiterated by Wedbush to “Neutral” according to the research note released today. The brokerage firm has raised the Price Target to $ 19 from a previous price target of $18 . Wedbush advised their investors in a research report released on May 9, 2016.
On the company’s financial health, Media General Inc reported $-0.20 EPS for the quarter, missing the analyst consensus estimate by $ -0.28 based on the information available during the earnings call on May 6, 2016. Analyst had a consensus of $0.08. The company had revenue of $343.00 million for the quarter, compared to analysts expectations of $339.50 million. The company’s revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.06 EPS.
Media General Inc opened for trading at $17.24 and hit $17.63 on the upside on Friday, eventually ending the session at $17.62, with a gain of 1.44% or 0.25 points. The heightened volatility saw the trading volume jump to 12,86,586 shares. Company has a market cap of $2,272 M.
In a different news, on Mar 17, 2016, Deborah A Mcdermott (Senior VP and COO) sold 4,495 shares at $16.70 per share price. According to the SEC, on Mar 3, 2016, Vincent L Sadusky (President and CEO) sold 16,288 shares at $16.87 per share price. On Mar 3, 2016, James F Woodward (Senior VP and CFO) sold 1,431 shares at $16.87 per share price, according to the Form-4 filing with the securities and exchange commission.
Media General Inc. formerly Mercury New Holdco Inc. is a connected-screen multimedia company. The Company provides news information and entertainment. The Company’s segment include Broadcast segment which has around 71 television stations that are either owned operated or serviced by the Company in around 48 United States markets all of which are engaged principally in the sale of television advertising and Digital segment which includes digital companies: LIN Digital LIN Mobile HYFN Inc. (HYFN) Dedicated Media Inc. (Dedicated Media) BiteSize TV and Federated Media as well as the business operations related to the television station companion Websites. LIN Digital provides display and video advertising. LIN Mobile provides mobile advertising. Federated Media provides display and video advertising. Dedicated Media provides marketing data focusing and analytics for digital marketing campaigns. HYFN is a digital agency. BiteSize TV is a video content creator.