Revenue Update on Meredith Corporation(NYSE:MDP)

Meredith Corporation(NYSE:MDP) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during Pre-market on Jul 28, 2016. Company reported revenue of $435.78M. Analysts estimated a revenue of $437.78M. Earnings per share were $1.08. Analysts had estimated an EPS of $1.03.

Meredith Corporation (MDP) shares turned negative on Thursdays trading session with the shares closing down -0.44 points or -0.83% at a volume of 3,30,434. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $53.48. The peak price level was also seen at $53.48 while the days lowest was $52.67. Finally the shares closed at $52.83. The 52-week high of the shares is $57.53 while the 52-week low is $35.03. According to the latest information available, the market cap of the company is $2,354 M.

Several Insider Transactions has been reported to the SEC. On Jun 14, 2016, Meredith D Mell Frazier (director 10% owner) purchased 15,628 shares at $51.24 per share price.Also, On Jun 14, 2016, Katherine C Meredith (10% owner) sold 31,256 shares at $51.24 per share price.On Jun 14, 2016, Edwin T Iv Meredith (10% owner) purchased 15,628 shares at $51.24 per share price, according to the Form-4 filing with the securities and exchange commission.

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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