Is Meredith Corporation (MDP) Good For Your Portfolio?

Meredith Corporation (NYSE:MDP) saw an upside of 0.02% to close Monday at $58.23 after adding $0.01 on the day. The 5-day average trading volume is 2,706,560 shares of the company’s common stock. It has gained $58.47 in the past week. An average of 1,209,105 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 594,680.

MDP’s 1-month performance is 44.06% or $17.81 on its low of $40.08 reached on 09/13/21. The company’s shares have touched a 52-week low of $10.75 and high of $58.83, with the stock’s rally to the 52-week high happening on 09/24/21. YTD, MDP has achieved 203.28% or $39.03. However, the current price is down -1.02%% from the 52-week high price.


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Valuation Metrics

The company’s PE ratio for the last five years has touched a high of 95.84 and a low of 6.440. MDP stock has a beta of 2.14. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 0.79 while the price-to-book (PB) in the most recent quarter is 4.13, with the price to cash flow ratio at 6.51.

Meredith Corporation’s quick ratio for the period ended June 29 was 1.30, with the current ratio over the same period at 1.30 meaning that MDP stock is able to fulfill its debt obligations. As well, the company’s long term debt to equity for the quarter ending June 29 was 4.20, while the total debt to equity was 4.21. In terms of profitability, the gross margin trailing 12 months is 65.60%. The trailing 12-month EBITDA margin is 24.32% while for the period ending June 29; Meredith Corporation’s operating margin was 18.90%. The firm’s gross profit as reported stood at $1.95 billion against revenue of $2.98 billion.

Earnings Surprise

For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Analysts expected MDP to announce $0.48 per share in earnings in its latest quarter, but it posted $1.11, representing a 131.30% surprise. EBITDA for the quarter stood at more than $110.4 million. MDP stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 4.91 billion, with total debt at $3.21 billion. Shareholders hold equity totaling $45.78 million

Technical Picture

Let’s look briefly at Meredith Corporation (MDP) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 11 October was 81.70% to suggest the stock is trending Overbought, with historical volatility in this time period at 34.87%.

The stock’s 5-day moving average is $56.70, reflecting a +6.10% or $3.35 change from its current price. MDP is currently trading +41.20% above its 20-day SMA, +72.79% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 and SMA200 by +33.43% and +199.38% respectively.

Stochastic %K and %D was 96.09% and 89.26% and the average true range (ATR) pointed at 1.77. The RSI (14) points at 78.46%, while the 14-day stochastic is at 96.14% with the period’s ATR at 1.80. The stock’s 9-day MACD Oscillator is pointing at 1.94 and 3.69 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Meredith Corporation (NYSE: MDP), The Benchmark Company upgraded it to a Buy rating. They previously had a Hold rating on the stock. Analysts offering their rating for MDP stock have a consensus rating for the stock as Hold. Currently, 1 brokerage advisors rate MDP as a “sell,”, while 4 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 1 have offered a “buy” rating.

What is MDP’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $42.00 and a high of $59.00, with their median price target at $59.00. Looking at these predictions, the average price target given by analysts is for Meredith Corporation (MDP) stock is $55.40.

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