MDP - Meredith Corporation

NYSE - NYSE Delayed Price. Currency in USD
36.18
-0.82 (-2.22%)
At close: 4:02PM EDT

36.18 0.00 (0.00%)
After hours: 4:51PM EDT

Stock chart is not supported by your current browser
Previous Close37.00
Open36.92
Bid35.95 x 800
Ask35.96 x 900
Day's Range35.93 - 37.01
52 Week Range31.43 - 62.40
Volume685,717
Avg. Volume553,079
Market Cap1.651B
Beta (3Y Monthly)1.36
PE Ratio (TTM)N/A
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & Yield2.30 (6.22%)
Ex-Dividend Date2019-08-29
1y Target EstN/A
Trade prices are not sourced from all markets
  • 7 Stocks the Insiders Are Buying on Sale
    InvestorPlace

    7 Stocks the Insiders Are Buying on Sale

    [Editor's Note: This article is updated each week with the latest insider moves.]There are many reasons why an insider of a company may sell their stock. They may need to raise money for things such as a home purchase and a divorce settlement. However, there is only one reason why there would be insider buying of a stock. They believe that they will profit because it is currently undervalued.Insiders are people who have access to confidential information about a company. There have been numerous cases over the years where insiders take advantage of this in order to profit. For example, suppose an insider knows that news is about to be released that will make the stock go higher. The insider could buy it from a shareholder who does not have access to the news.InvestorPlace - Stock Market News, Stock Advice & Trading TipsOne of the rules that the SEC has established to protect investors from this type of illicit activity is to require the insiders to publicly disclose when they are buying or selling their stock. This will help to prevent unethical insiders from taking advantage of uninformed investors.When I am thinking about buying a stock, I always like to see what the insiders are doing. I especially like to see if they are buying after the stock has seen a dramatic drop in price. This could be a sign that the stock is a good value at current levels. * 10 Recession-Resistant Services Stocks to Buy Here are seven stocks that insiders have been buying after they made large moves lower. The Chemours Company (CC)The Chemours Company (NYSE:CC) sells performance chemicals in markets all over the world.The price of CC stock has dropped from $40 a share to current levels around $16 since just this past April. This is due to the fact that the company has missed earnings estimates and reduced its guidance. Because of this, many of the firms that follow it on a research basis have reduced their ratings.Mark Newman is a Senior Vice President and the Chief Operating Officer of Chemours. He must believe that the stock is a great value at these levels because he just made a significant personal investment. Maybe he is attracted to the 6.1% dividend that the stock is currently yielding.On Sept. 11 he paid an average price of $16.42 for 20,000 shares. This was an investment of almost $330,000. Flowtek Industries Inc. (FTK)Flowtek Industries Inc. (NYSE:FTK) provides chemistry and other services to companies in the oil and gas industry.FTK stock dropped by about 40% in early August when shareholders were disappointed with earnings results. Before the report, shares were trading around $2.80. When the results were released, the stock fell to $2.The loss for the quarter was 21 cents. In fiscal 2018, the company reported a loss of $1.21 a share. This was significantly worse than the loss of 44 cents a share that was reported in 2017. * 10 Big IPO Stocks From 2019 to Watch David Nierenberg is a Director of the company. He must think that the sellers have overreacted to this news because he just made a substantial investment of almost $650,000. Between Sept. 10 and Sept. 12 Nierenberg acquired about 270,000 shares of stock. Signet Jewelers LTD. (SIG)Signet Jewelers LTD. (NYSE:SIG) sells jewelry, watches and other products.Like many other retailers, Signet has faced some challenges. This has caused the price of the stock to lose more than half of its value between March and early September.After reaching a 10-year low, SIG stock rallied after it reported earnings that were better than estimates. It also raised its guidance.Two insiders of this company must think that things are turning around and that this rally will continue. They each just made large purchases of the stock. Virginia Drosos is the CEO of Signet. She just made an investment of over $50,000 when she paid $14.14 for 4,000 shares.Joan Hilson is the Chief Financial Officer. She made an even larger investment when she bought 7,500 shares at $14.56 a share. This was almost $110,000. That's not chump change. Aerie Pharmaceuticals, Inc. (AERI)Aerie Pharmaceuticals, Inc. (NASDAQ:AERI) develops and sells therapies for the treatment of eye diseases.Over the past year, the price of AERI stock dropped by more than 60%. Last September, shares traded for over $60 a share. This September, shares traded below $20.Because of this, there has been a significant amount of insider buying. Richard Rubino is the Chief Financial Officer of Aerie. He just invested $100,000 when he paid $19.93 for 5,040 shares.Vicente Anido is the CEO of the company. He must also be bullish on the long-term prospects. He just made an investment of $500,000 when he recently bought 26,000 shares. * 7 Dow Titans Breaking Higher Wall Street is also bullish on the company; 10 firms follow it and 9 of them have buy ratings on it. The average target price is around $63. This is almost 3 times higher than where it is currently trading. Phunware, Inc. (PHUN)Phunware, Inc. (NASDAQ:PHUN) provides multiscreen-as-a-service cloud platforms for mobile devices.Over the past few months, the price of PHUN stock has dropped from around $4 a share to as low as $1.14 in mid-August. Since then, it has had an impressive recovery and has rallied to current levels around $1.73.There have been some positive developments for Phunware. In July, the company announced that is had been added to the Russel Microcap index. In addition, it also announced that it has partnered with L&T Technology Services to implement its platform on a corporate campus for an undisclosed Fortune 50 company.Randal Crowder is the Chief Operating Officer of Phunware. He must believe that the stock will continue to rally. He recently bought almost 40,000 shares on the open market. There has been buying by other insiders as well. Nektar Therapeutics (NKTR)Nektar Therapeutics (NASDAQ:NKTR) develops drugs for cancer, autoimmune disease and chronic pain.Over the past year, the price of NKTR stock has dropped from $80 per share to current levels around $20. This could be because the company has reported losses in each of the last four quarters. In the most recent quarter, the loss for Nektar was 63 cents a share.Stephen Dobersten is a Senior Vice President and Chief Scientific Officer of the company. He must believe that the stock is a good value at these levels. He just invested $260,000 of his personal funds when he paid $17.28 for 15,000 shares. * 7 Momentum Stocks to Buy On the Dip The Street believes that the stock is undervalued as well; 13 firms follow NKTR stock. The average rating is overweight and the average target price is $39.45. This is almost twice as high as where it is currently trading. Meredith Corporation (MDP)Meredith Corporation (NYSE:MDP) operates as a diversified media company.MDP stock dropped by almost 25% in early September when the company reported earnings that disappointed investors. Since then it has recovered somewhat.Thomas Harty is the President and CEO of the company. He must believe that the sellers overreacted when they knocked the stock down. He just paid $35.02 for 12,000 shares. This was a personal investment of more than $420,000.Five Wall Street research firms follow Meredith and they seem to like it as well. The average rating is overweight. The average target price is $48.80. This is about 10 dollars higher than where it is currently trading. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Real Estate Investments to Ride Out the Current Storm * 7 Marijuana Penny Stocks to Consider for Those Who Can Handle Risk * 7 Safe Dividend Stocks for Investors to Buy Right Now The post 7 Stocks the Insiders Are Buying on Sale appeared first on InvestorPlace.

  • Moody's

    Meredith Corp. -- Moody's affirms Meredith ratings following FY 2020 guidance; outlook stable.

    Moody's Investors Service ("Moody's") affirmed Meredith Corp. ("Meredith" or the "company") B1 Corporate Family Rating (CFR) and B1-PD Probability of Default Rating (PDR) following the company's announcement of a downward revision to FY 2020 guidance due to expectations that revised operating performance guidance will provide Meredith with sufficient free cash flow and debt repayment opportunities over the next 12-18 months, as well as the company's publicly communicated commitment to target leverage of 2x Total Debt to EBITDA (excluding Moody's standard adjustments).

  • GuruFocus.com

    Meredith Corp (MDP) Files 10-K for the Fiscal Year Ended on June 30, 2019

    Meredith Corp (MDP)(30-Year Financial) files its latest 10-K with SEC for the fiscal year ended on June 30, 2019. Continue reading...

  • GuruFocus.com

    Meredith Corp (MDP) President and CEO Thomas H Harty Bought $420,240 of Shares

    President and CEO of Meredith Corp (30-Year Financial, Insider Trades) Thomas H Harty (insider trades) bought 12,000 shares of MDP on 09/09/2019 at an average price of $35.02 a share. Continue reading...

  • New Strong Sell Stocks for September 10th
    Zacks

    New Strong Sell Stocks for September 10th

    Here are 5 stocks added to the Zacks Rank 5 (Strong Sell) List today

  • Thomson Reuters StreetEvents

    Edited Transcript of MDP earnings conference call or presentation 5-Sep-19 12:30pm GMT

    Q4 2019 Meredith Corp Earnings Call

  • Meredith (MDP) Q4 Earnings Improve Y/Y, Revenues Decline
    Zacks

    Meredith (MDP) Q4 Earnings Improve Y/Y, Revenues Decline

    Meredith (MDP) reports fourth-quarter fiscal 2019 results. The company notifies that National Media Group's comparable advertising performance improve in every quarter of the fiscal year.

  • Why Meredith, Livongo Health, and First Majestic Silver Slumped Today
    Motley Fool

    Why Meredith, Livongo Health, and First Majestic Silver Slumped Today

    Even high hopes on trade weren't enough to lift these stocks.

  • Why Meredith Stock Just Dropped 26%
    Motley Fool

    Why Meredith Stock Just Dropped 26%

    This isn't how "earnings beats" are supposed to work.

  • Time Inc. Stumble Sends Shares of Meredith Plunging
    Bloomberg

    Time Inc. Stumble Sends Shares of Meredith Plunging

    (Bloomberg) -- Meredith Corp. suffered its worst stock decline since 1986 after the publisher and broadcaster delivered a disappointing forecast and acknowledged that its $1.8 billion acquisition of Time Inc. isn’t delivering the payoff it wanted.The deal, which was completed last year, turned Meredith into the biggest magazine publisher in the U.S. But the business isn’t as profitable as expected, Chief Executive Officer Tom Harty said on Thursday, and Meredith is now planning to spend more to improve operations.“Both of these factors contribute to a reset of our financial expectations in the outlook we’re providing,” he said.Adjusted earnings before interest, taxes, depreciation and amortization will be no more than $675 million this fiscal year, which began in July. That’s a big miss, said Wolf Research analyst Marci Ryvicker, who predicted $793 million.It’s clear Meredith “didn’t know what they were buying with Time Inc.,” she said in a note. Most of the $400 million in earnings that the company was expecting “just...poof! disappeared.”Shares of the Des Moines, Iowa-based company plunged more than 28% to $31.43 on Thursday. Even before the rout, the stock had fallen 16% this year.Sales will be $3 billion to $3.2 billion in fiscal 2020, the publisher predicted. While that’s in line with analysts’ estimates, the outlook suggests revenue may decline from the $3.19 billion reached in 2019.Meredith, whose titles include People, Better Homes & Gardens and InStyle, is focused on female readers and claims to reach nearly 90% of U.S. millennial women. But it’s “taken longer than we initially expected to elevate the print and digital performance of the Time Inc. assets,” Harty said.The Time Inc. titles were acquired in January 2018, but Meredith then embarked on an effort to sell the magazines that didn’t fit with its strategy. That included Time, Fortune and Sports Illustrated, which it unloaded piecemeal. Sports Illustrated was the last to be sold, in a $110 million deal with Authentic Brands in May.Advertising at the Time Inc. titles that remained was sluggish, Harty said on a conference call.“It took longer than expected to turn around advertising performance,” he said. “Additionally, the number of low-margin magazine subscriptions we encountered inside the legacy Time Inc. brands were more than anticipated.”\--With assistance from Rob Golum.To contact the reporter on this story: Kamaron Leach in New York at kleach6@bloomberg.netTo contact the editor responsible for this story: Nick Turner at nturner7@bloomberg.netFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Benzinga

    Meredith Corporation Reports Q4 Earnings Beat

    Meredith Corporation (NYSE: MDP ) reported adjusted fourth-quarter earnings of $1.79 cents per share and quarterly sales of $785.6 million, which beat the analyst consensus estimate of $774.66 million. ...

  • TheStreet.com

    Publisher Meredith Slumps After Posting Weaker Outlook

    Strengthening the performance of the print and digital editions of the Time Inc. assets has taken longer than expected. But the company is confident of the long-term potential of its National Media Group.

  • Benzinga

    Q4 Earnings Preview For Meredith

    Meredith (NYSE: MDP ) announces its next round of earnings this Thursday, September 5. Here is Benzinga's everything-that-matters guide for the Q4 earnings announcement. Earnings and Revenue Analysts covering ...

  • Healthiest Employers 2019: Meredith Corp.'s robust wellness program keeps employees on the run
    American City Business Journals

    Healthiest Employers 2019: Meredith Corp.'s robust wellness program keeps employees on the run

    The company's wellness program, started in 2006, has had more than 90% completion annually since 2012.

  • Moody's

    Meredith Corp. -- Moody's announces completion of a periodic review of ratings of Meredith Corp.

    Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Meredith Corp. New York, August 27, 2019 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Meredith Corp. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.

  • Do These 3 Checks Before Buying Meredith Corporation (NYSE:MDP) For Its Upcoming Dividend
    Simply Wall St.

    Do These 3 Checks Before Buying Meredith Corporation (NYSE:MDP) For Its Upcoming Dividend

    Some investors rely on dividends for growing their wealth, and if you're one of those dividend sleuths, you might be...

  • BlackRock buys large stake in Sports Illustrated owner
    American City Business Journals

    BlackRock buys large stake in Sports Illustrated owner

    ABG's other investors include Leonard Green & Partners, General Atlantic, Lion Capital, Simon Property Group, Brookfield Properties’ retail group and former NBA star Shaquille O’Neal.

  • Is Now An Opportune Moment To Examine Meredith Corporation (NYSE:MDP)?
    Simply Wall St.

    Is Now An Opportune Moment To Examine Meredith Corporation (NYSE:MDP)?

    Meredith Corporation (NYSE:MDP), which is in the media business, and is based in United States, saw significant share...

  • Deal with Allrecipes.com extends Ste. Michelle Wine Estates' reach
    American City Business Journals

    Deal with Allrecipes.com extends Ste. Michelle Wine Estates' reach

    "Food and wine are like left and right, Yin and Yang," Ste. Michelle Wine Estates CEO Jim Mortensen said. Mortensen's aggressive strategy to pursue the digital space takes the Woodinville-based collection of wineries beyond the Pacific Northwest.

  • Colorado hotels and safari outfitters earn Travel + Leisure awards
    American City Business Journals

    Colorado hotels and safari outfitters earn Travel + Leisure awards

    Two Front Range hotels, two mountain resorts and three safari outfitters received accolades in the annual survey.

  • Here’s What Hedge Funds Think About Meredith Corporation (MDP)
    Insider Monkey

    Here’s What Hedge Funds Think About Meredith Corporation (MDP)

    "The global economic environment is very favorable for investors. Economies are generally strong, but not too strong. Employment levels are among the strongest for many decades. Interest rates are paused at very low levels, and the risk of significant increases in the medium term seems low. Financing for transactions is freely available to good borrowers, […]

  • Bloomberg

    When a Ponzi Scheme and Bond Protections Collide

    (Bloomberg Opinion) -- Imagine the following chain of events:You buy a condo in the mid-2000s on Florida’s Gulf Coast, in a development just outside Tampa that promises to recreate the style of Venice, Italy.  The governmental body running the area is the Clearwater Cay Community Development District, which issues about $34 million of municipal bonds in November 2006. “All marketing efforts for Clearwater Cay will be coordinated through Cay Clubs,” according to bond documents, which also state that the developer “believes this to be a unique offering of resort services and amenities that will be unmatched in this area.” Those luxury amenities, like a water park and gondola-lined canal, are never built. In February 2016, Dave Clark, former chief executive officer of Cay Clubs, is sentenced to 40 years in prison because the company “came to operate as a Ponzi scheme,” according to the Justice Department. Evidence showed it experienced serious financial difficulties by “at least September 2006,” or two months before the district’s bond sale. Between 2005 and 2007, Clark extracted more than $22 million from the operations of Cay Clubs for himself. All the while, you, the condo owner, are paying about $1,500 a year in assessments on your property to repay those bonds.This is what Donald Dwyer is fighting against. As Bloomberg News’s Amanda Albright reported, the former Maryland lawmaker is fed up with the situation and has launched headfirst into a crusade against the outstanding debt. He rose up to become the chairman of the district’s board of supervisors, and earlier this month took the drastic step of filing for Chapter 9 bankruptcy protection.“We’re going to let somebody else intervene on our behalf because this has gotten insane,” the 61-year-old Dwyer told Albright. “I’m not going to assess my community for a debt I can’t justify.”Not surprisingly, this is seen as major foul play in the $3.8 trillion municipal market. This type of debt is “not supposed to be impaired,” said James Spiotto, a municipal bankruptcy expert. The lawyer representing OppenheimerFunds Inc., which owns all of the district’s remaining debt, evoked Meredith Whitney by warning of widespread defaults. Clearwater Cay must pay, he argued, “otherwise, every city, county, school board, 600 community development districts in Florida, et cetera, would be doing the same thing.”Obviously, that is hyperbole. Plenty of debt from community development districts, which came to be known as “dirt bonds,” did default in the wake of the housing bust. But this situation — the whole “I’m not going to assess my community” part — is different, and speaks to bond investors’ instinctual alarm anytime covenants are under attack. In the case of Clearwater Cay CDD, it’s hard to feel much sympathy for OppenheimerFunds. After all, the money manager known for taking bets on risky securities bought into an unrated project backed by Clark, now revealed to be a convicted criminal. Among other things, he “sold units Cay Clubs had acquired, to himself, while increasing the sales price,” and “used proceeds from the investor sales to purchase a gold mine, a coal reclamation project and a rum distillery for his personal benefit.” And that’s just part of the scheming. It takes a special level of fraud to get 40 years in prison. On the other hand, it’s not as if the property is completely uninhabitable. The offering documents say this (emphasis mine):The District covenants in the Indenture, that if any 2006 Assessment shall be either in whole or in part annulled, vacated or set aside by the judgment of any court, or the District shall be satisfied that any such 2006 Assessments are so irregular or defective that it cannot be enforced or collected, or if the District shall have omitted to make such 2006 Assessments when it might have done so, the District shall either: (i) take all necessary steps to cause a new Assessment to be made for the whole or any part of such improvement or against any property benefited by such improvement; or (ii) in its sole discretion, make up the amount of such Assessment from legally available monies.At first glance, this reads as a pledge to do everything possible to make assessments and pay investors. The documents go on to suggest foreclosure proceedings should any property owners fail to pay what they owe, though it does say the district is merely “authorized” to commence legal action, rather than required. But overall, the protections appear strong enough that it’s not an obligation from which officials can easily walk away.The tricky part is determining precisely what bondholders deserve to be paid. These aren’t property taxes backed by full faith and credit,(1)rather, they are levies on “land within the District specifically benefited by certain infrastructure improvements” financed by the debt proceeds. Dwyer’s side argues the condo owners have gained virtually nothing and so should pay virtually nothing.(2)OppenheimerFunds disagrees.None of this is ideal for any of the parties involved. Perhaps that’s why in the 2015 fiscal year, the district took some land and a shopping center and exchanged it in return for canceling some of the outstanding bond payments. But even that came with added drama: No appraisal was done. A judge found that the valuation was arbitrary and there needs to be a reassessment of what property owners ought to pay. That technically could be higher, but will probably end up being lower, in a victory for Dwyer and a hit to OppenheimerFunds’s investment.Bruce Barnes, the attorney who represented the owners, said he considers the ruling “a substantial victory for the owners, depending upon what ultimately transpires in the new assessment procedure now underway.” He said it could leave residents entitled to refunds for the assessments that have been paid since 2015. At the very least, he says, a “conservative model” from a financial adviser has residents owing $900,000 to OppenheimerFunds, rather than $4.3 million.What’s clear is that when a Ponzi scheme and bond covenants collide, neither side is going to wind up perfectly happy. After hearing the full extent of Clark’s fraud, and seeing their Venice dreams dashed, it’s entirely understandable that landowners feel cheated. OppenheimerFunds, with extensive experience in this arena, is fighting for its investors, some of whom are likely individuals that count on its battle-tested team. Neither can hope to fix the damage done. They can only sort out the wreckage. (1) Even though offering documents say that "subject to certain conditions, 2006 Assessments may be collected in the same manner as county ad valorem taxes," it specifies that "the levy will take the form of non-ad valorem special assessments that will be liens against properties within the boundary of the District that receive special benefits from the CIP or portions of the CIP."(2) Per the bond documents: "No acre or parcel of property within the boundary of the District will be assessed for the payment of any non-ad valorem special assessment more than the determined special benefit peculiar to that property."To contact the author of this story: Brian Chappatta at bchappatta1@bloomberg.netTo contact the editor responsible for this story: Daniel Niemi at dniemi1@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Brian Chappatta is a Bloomberg Opinion columnist covering debt markets. He previously covered bonds for Bloomberg News. He is also a CFA charterholder.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • Markit

    See what the IHS Markit Score report has to say about Meredith Corp.

    Meredith Corp NYSE:MDPView full report here! Summary * ETFs holding this stock are seeing positive inflows but are weakening * Bearish sentiment is high * Economic output in this company's sector is contracting Bearish sentimentShort interest | NegativeShort interest is extremely high for MDP with more than 20% of shares on loan. This means that investors who seek to profit from falling equity prices are currently targeting MDP. Money flowETF/Index ownership | NegativeETF activity is negative and may be weakening. The net inflows of $1.28 billion over the last one-month into ETFs that hold MDP are among the lowest of the last year and appear to be slowing. Economic sentimentPMI by IHS Markit | NegativeAccording to the latest IHS Markit Purchasing Managers’ Index (PMI) data, output in the Consumer Servicesis falling. The rate of decline is significant relative to the trend shown over the past year, and is accelerating. Credit worthinessCredit default swapCDS data is not available for this security.Please send all inquiries related to the report to score@ihsmarkit.com.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.