Meredith Co. (NYSE:MDP) issued an update on its FY16 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $3.05-3.25 for the period, compared to the Thomson Reuters consensus estimate of $3.10, MarketBeat reports. The company issued revenue guidance of mid single digits (cons +3%), compared to the consensus revenue estimate of $1.64 billion.

Meredith Co. (NYSE:MDP) opened at 41.39 on Friday. The stock has a market capitalization of $1.85 billion and a PE ratio of 15.86. Meredith Co. has a 12-month low of $35.03 and a 12-month high of $57.22. The company has a 50-day moving average price of $41.07 and a 200-day moving average price of $45.17.

Meredith (NYSE:MDP) last released its quarterly earnings results on Wednesday, January 27th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. The business earned $406.40 million during the quarter, compared to analysts’ expectations of $407.29 million. During the same quarter last year, the business posted $1.00 earnings per share. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. Analysts expect that Meredith Co. will post $3.07 earnings per share for the current fiscal year.

MDP has been the subject of a number of research analyst reports. Wells Fargo reiterated a hold rating on shares of Meredith in a research note on Sunday, October 4th. Zacks Investment Research lowered Meredith from a hold rating to a sell rating in a report on Tuesday, October 6th. Benchmark Co. cut their price objective on Meredith from $58.00 to $55.00 and set a buy rating on the stock in a report on Thursday, October 8th. TheStreet raised Meredith from a hold rating to a buy rating in a report on Friday, December 11th. Finally, Gabelli raised Meredith from a sell rating to a hold rating and set a $50.00 price objective on the stock in a report on Wednesday, December 16th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has an average rating of Hold and an average price target of $53.00.

Meredith Corporation is a media and marketing company. The Company operates two business segments namely local media and national media. Its national media segment includes national consumer media brands delivered via multiple media platforms including print magazines and digital and mobile media, brand licensing activities, database-related activities and business-to-business marketing products and services. The local media segment consists of the operations of network-affiliated television stations, related digital and mobile media, and video creation operations. Local media segment consists of 14 owned television stations and one operated television station located across the United States in digital and mobile media, and a national video creation unit.

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