Benchmark Maintains Meredith Corporation to Hold with Price Target $65

Brokerage firm Benchmark Maintains its rating on Meredith Corporation(MDP). As per the latest information, Benchmark Raises the price target to $65 per share from a prior target of $64. The shares have been rated Hold. The rating by the stock financial advisor at Benchmark was issued on Mar 23, 2017 in a research report to their Investors and Clients.

In a different note, On Jan 26, 2017, Benchmark said it Downgrades its rating on Meredith Corporation. The shares have been rated ‘Hold’ by the firm.

Meredith Corporation (MDP) shares turned negative on Fridays trading session with the shares closing down -0.15 points or -0.24% at a volume of 7,51,686. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $64.45. The peak price level was also seen at $64.45 while the days lowest was $63.05. Finally the shares closed at $63.05. The 52-week high of the shares is $66.25 while the 52-week low is $43.85. According to the latest information available, the market cap of the company is $2,805 M.

Meredith Corporation(MDP) last announced its earnings results on Jan 25, 2017 for Fiscal Year 2017 and Q2.Company reported revenue of $442.642M. Analysts had an estimated revenue of $435.220M. Earnings per share were $1.3. Analysts had estimated an EPS of $1.2.

Several Insider Transactions has been reported to the SEC. On Dec 8, 2016, Steven M Cappaert (Corporate Controller) sold 124 shares at $56.05 per share price.Also, On Nov 22, 2016, Paul Karpowicz (President-Local Media Group) sold 25,410 shares at $53.48 per share price.On Nov 16, 2016, Frederick B Henry (director) sold 998 shares at $52.00 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.

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