Meredith Corporation (MDP) Posts Quarterly Results - InvestingChannel

Meredith Corporation (MDP) Posts Quarterly Results

Meredith Corporation (NYSE: MDP) issued its quarterly earnings data on Thursday. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.03. The company had revenue of $360.60 million for the quarter, compared to the consensus estimate of $374.52 million. During the same quarter in the previous year, the company posted $0.70 earnings per share. The company?s revenue for the quarter was up 9.7% on a year-over-year basis. Meredith Corporation updated its Q3 guidance to $0.65-0.70 EPS.

A number of analysts have recently weighed in on MDP shares. Analysts at Piper Jaffray reiterated an ?overweight? rating on shares of Meredith Corporation in a research note to investors on Wednesday. They now have a $38.00 price target on the stock. On a related note, analysts at Benchmark Co. reiterated a ?hold? rating on shares of Meredith Corporation in a research note to investors on Wednesday, January 16th. They now have a $34.00 price target on the stock. Finally, analysts at Zacks reiterated a ?neutral? rating on shares of Meredith Corporation in a research note to investors on Monday, December 10th. They now have a $35.00 price target on the stock. Meredith Corporation (MDP) traded up 2.83% on Thursday, hitting $35.29. Meredith Corporation (MDP) has a 1-year low of $26.89 and a 1-year high of $37.84. The stock?s 50-day moving average is currently $34.0. The company has a market cap of $1.571 billion and a price-to-earnings ratio of 14.42. Meredith Corporation (Meredith) is a media and marketing company. The Company is engaged in magazine publishing and related brand licensing, television broadcasting, integrated marketing, interactive media, and video production related operations.