Benchmark Co. Maintains Their Buy Rating on Meredith Corp (MDP)

By Ryan Adsit

In a report released today, Daniel Kurnos from Benchmark Co. maintained a Buy rating on Meredith Corp (MDPResearch Report), with a price target of $68. The company’s shares closed on Friday at $51.75.

According to TipRanks.com, Kurnos is a 5-star analyst with an average return of 11.3% and a 54.1% success rate. Kurnos covers the Services sector, focusing on stocks such as Nexstar Media Group Inc, Sinclair Broadcast, and 1-800 Flowers.com.

Currently, the analyst consensus on Meredith Corp is a Moderate Buy with an average price target of $64.75.

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Based on Meredith Corp’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $23.3 million. In comparison, last year the company had a GAAP net loss of $98.2 million.

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Meredith Corp. engages in television broadcasting and magazine advertising business. It operates through the Local Media and National Media business segments. The Local Media segment includes television stations and offers websites, mobile-optimized websites, and mobile applications.