Bull’s Eye Report: Meredith Corp. (MDP)

A few key acquisitions, including Rachel Ray, have helped propel MDP.

   

At StateoftheMarkets.com, we strive to “own the best and ignore the rest” in our equity portfolios. Toward this end, each day we search our database for a “top stock” (a top rated company in terms of earnings strength as well as company and industry performance) that presents a strong technical “set up” and a good entry point.

In short, when our equity team is looking to add a stock to one of our portfolios, the “bull’s eye” stock shown below is generally their first choice.

Company Symbol Industry Stock Rating YTD% Gain S.T.
Stop Loss
Meredith Corp. MDP Publishing 9.2 +11.38% $37.53


Why We Like The Stock:

Meredith Corp. (NYSE:MDP) is our most compelling buy today due to the fact that it is a top rated stock (in terms of earnings strength and company/industry performance). Publishing companies like Washington Post (NYSE:WPO) or New York Times (NYSE:NYT) have had an exceptional 2013 thus far.

Though MDP doesn’t move hand-in-hand with the aforementioned stocks, it features a strong technical set-up of its own with a good entry point at current prices. MDP has just crossed above its short-term moving averages after basing and turning around at $36. We wouldn’t hold this stock any lower than $37.53, but we would definitely give it a shot here to see if it could fill its early March gap back up to ~$40. We also like the mostly positive action MDP has displayed recently, especially given the S&P 500 has flip-flopped back and forth in volatile fashion for 10 straight sessions.

 

We Would Be Buyers:

At the current price (~$38.90), or on a modest pullback to the five-day moving average (~$38.27).

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Company Profile:

Meredith Corp. (Meredith) is a media and marketing company. The Company is engaged in magazine publishing and related brand licensing, television broadcasting, digital and customer relationship marketing, digital and mobile media, and video creation operations. The Company operates two business segments: national media and local media. The national media segment includes magazine publishing, brand licensing, digital and customer relationship marketing, digital and mobile media, database-related activities, and other related operations. The local media segment consists primarily of the operations of network-affiliated television stations, related interactive media operations and video production related operations. In October 2011, Meredith completed its acquisition of Rachael Ray. In January 2012, the Company acquired FamilyFun from Disney Publishing Worldwide. In March 2012, the Company acquired Allrecipes.com, digital food brand.

 

Stock Rating:

The Stock Rating indicates the combined score of our proprietary Earning Strength and Company Performance models. The rating scale is 0 – 10 with 10 being the highest.

 

Disclosure:

At the time of publication the editor and affiliated companies own the following positions:

None

Note: Positions may be bought or sold while this publication is in circulation without notice.

 

Meredith Corp. - Last 3 Months

 Bulls Eye Report: Meredith Corp. (MDP)

Meredith Corp. - Last 12 Months

 Bulls Eye Report: Meredith Corp. (MDP)

Meredith Corp. - Last 5 Years

 Bulls Eye Report: Meredith Corp. (MDP)


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