Meredith Corp (MDP) Receives a Buy from Benchmark Co.

By Carrie Williams

Benchmark Co. analyst Daniel Kurnos maintained a Buy rating on Meredith Corp (MDPResearch Report) today and set a price target of $68. The company’s shares closed yesterday at $57.85.

According to TipRanks.com, Kurnos is a 5-star analyst with an average return of 12.5% and a 55.5% success rate. Kurnos covers the Services sector, focusing on stocks such as Nexstar Media Group Inc, Booking Holdings Inc, and Sinclair Broadcast.

Meredith Corp has an analyst consensus of Moderate Buy, with a price target consensus of $66.33, which is a 14.7% upside from current levels. In a report released yesterday, Citigroup also maintained a Buy rating on the stock with a $66 price target.

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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 $23.7 million. In comparison, last year the company had a GAAP net loss of $98.2 million.

Based on the recent corporate insider activity of 37 insiders, corporate insider sentiment is negative on the stock.

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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.