McGraw-Hill Q1 Profit, Revenue Beat View; Forecast Reiterated (MHP)

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Publishing giant The McGraw-Hill Companies, Inc. ( MHP ) on Tuesday said its first quarter earnings edged slightly higher from last year, beating Wall Street estimates.

The New York-based company reported first quarter net income of $123 million, or 43 cents per share, compared with $120 million, or 39 cents per share, in the year-ago period. Excluding one-time items, adjusted profit was 51 cents per share.

Revenue rose 6% from last year to $1.33 billion.


On average, Wall Street analysts expected a smaller profit of 48 cents per share, on slightly lower revenue of $1.32 billion.

Looking ahead, MHP forecast full-year 2012 earnings of $3.25 to $3.35 per share, while analysts currently expect $3.33 per share for the year.

McGraw-Hill shares rose 85 cents, or +1.7%, in premarket trading Tuesday.

The Bottom Line
Shares of McGraw-Hill ( MHP ) have a 2.08% dividend yield, based on last night's closing stock price of $49.10. The stock has technical support in the $44-$46 price area. If the shares can firm up, we see overhead resistance around the $53-$56 price levels.

The McGraw-Hill Companies, Inc. ( MHP ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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