Meredith Corporation (NYSE:MDP)’s traded shares stood at 3.61 million during the latest session, with the company’s beta value hitting 2.16. At the last check today, the stock’s price was $58.11, to imply an increase of 6.53% or $3.56 in intraday trading. The MDP share’s 52-week high remains $58.83, putting it -1.24% down since that peak but still an impressive 81.5% since price per share fell to its 52-week low of $10.75. The company has a valuation of $2.20B, with an average of 0.62 million shares in intraday trading volume over the past 10 days and average of 323.64K shares over the past 3 months.
Analysts have given a consensus recommendation of a Hold for Meredith Corporation (MDP), translating to a mean rating of 2.70. Of 6 analyst(s) looking at the stock, 1 analyst(s) give MDP a Sell rating. 0 of those analysts rate the stock as Overweight while 3 advise Hold as 2 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at $0.68.
Meredith Corporation (NYSE:MDP) trade information
After registering a 6.53% upside in the latest session, Meredith Corporation (MDP) has traded red over the past five days. The stock hit a weekly high of 58.23 this Wednesday, 10/06/21, jumping 6.53% in its intraday price action. The 5-day price performance for the stock is -2.47%, and 32.44% over 30 days. With these gigs, the year-to-date price performance is 184.11%. Short interest in Meredith Corporation (NYSE:MDP) saw shorts transact 3.23 million shares and set a 8.07 days time to cover.
Analysts on Wall Street suggest a consensus price target of $46.20, implying a decrease of -25.78% to the stock’s recent value. The extremes give us $36.00 and $58.00 for target low and target high price respectively. As such, MDP has been trading 0.19% off suggested target high and 38.05% from its likely low.
Meredith Corporation (MDP) estimates and forecasts
Looking at statistics comparing Meredith Corporation share performance against respective industry, we note that the company has underperformed competitors. Meredith Corporation (MDP) shares are 80.57% up over the last 6 months, with its year-to-date growth rate lower than industry average at -3.28% against 4.60%. Revenue is forecast to shrink -34.60% this quarter before falling -33.50% for the next one. The rating firms project that company’s revenue will shrink -5.00% compared to the previous financial year.
Revenue forecast for the current quarter as set by 4 analysts is $681.84 million. Meanwhile, for the quarter ending Dec 2021, a total of 4 analyst(s) estimate revenue growth to $809.78 million.
An assessment of the company’s 5-year growth patterns shows that annual earnings grew an estimated 53.00% for the past 5-year period. While 2021 is set for a 163.50% return in earnings, projections for the next 5 years are at 25.70% annually.
Meredith Corporation has its next earnings report out between November 03 and November 08. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Meredith Corporation has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 5.52%.
Meredith Corporation (NYSE:MDP)’s Major holders
Meredith Corporation insiders hold 2.66% of total outstanding shares, with institutional holders owning 96.18% of the shares at 98.80% float percentage. In total, 96.18% institutions holds shares in the company, led by Blackrock Inc. As of Dec 30, 2020, the company held over 6.41 million shares (or 15.80% of shares), all amounting to roughly $123.08 million.
The next major institution holding the largest number of shares is Ariel Investments, LLC with 4.45 million shares, or about 10.98% of shares outstanding. As of the market price on Dec 30, 2020, these shares were worth $85.5 million.
We also have Ariel Fund and iShares Core S&P Smallcap ETF as the top two Mutual Funds with the largest holdings of the Meredith Corporation (MDP) shares. Going by data provided on Dec 30, 2020, Ariel Fund holds roughly 3.55 million shares. This is just over 8.74% of the total shares, with a market valuation of $68.1 million. Data from the same date shows that the other fund manager holds a little less at 2.71 million, or 6.67% of the shares, all valued at about 80.61 million.