Stock News Recap: Meredith Corporation (NYSE: MDP)

On Thursday, Meredith Corporation (NYSE: MDP) stock dropped -0.37% and closed at 35.3. The stock opened the session at $35.56 and touched its highest price point at $35.83. Its recent trading capacity is 493564 shares versus to its average trading volume of 875997 shares. The company’s stock’s lowest price point for the session stood at $34.81.MDP traded as low as $ 31.43 in the past 52 weeks, and shares hit its peak level to $62.4.

Meredith Corporation (MDP) recently stated fiscal 2019 fourth quarter and full year results.

OTHER FINANCIAL INFORMATION

Meredith remains committed to strong capital stewardship and its successful Total Shareholder Return strategy. This includes:

  • Return of capital to shareholders through consistent and ongoing dividend increases – Meredith raised its regular dividend by 5.5 percent to $2.30 on an annualized basis in February 2019. This marked the 26th straight year of dividend increases for Meredith and the 72nd consecutive year of dividend payments. Since launching its Total Shareholder Return strategy in October 2011, Meredith has increased its dividend 125 percent.
  • Aggressive debt paydown and management of liabilities – Long-term debt was $2.3B at June 30, 2019, reflecting repayment of $825M in fiscal 2019.
  • Share repurchases – Meredith’s ongoing share repurchase program has $50M remaining under current authorizations as of June 30, 2019.

FISCAL 2020 OUTLOOK

For full-year fiscal 2020, Meredith expects:

  • Total Company revenues to range from $3.0B to $3.2B.
  • Earnings from continuing operations, including non-cash depreciation and amortization of about $220M and net interest expense of about $150M, to range from $197M to $212M, and from $2.58 to $2.88 on a per share basis. These amounts do not include special items. Actual results may include special items that have not yet occurred and are difficult to predict with reasonable certainty at this time.
  • Adjusted EBITDA to range from $640M to $675M, and adjusted earnings per share to range from $5.75 to $6.20. This includes about $50M of planned planned investments. (See Tables 4-5 for supplemental disclosures.)
  • Additionally, Meredith expects to generate about $75M of proceeds from its remaining Assets Held for Sale and intends to use that cash for further debt reduction.

In the trailing 12 months period, return on assets ratio of the Company was -0.50% and return on equity ratio was -3.10% while its return on investment ratio was 7.50%. Net profit margin of the firm was recorded at -1.00% and operating profit margin was calculated at 9.50% while gross profit margin was measured as 63.60%. Beta factor, which measures the riskiness of the security, was registered at 1.19.

 

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