McGraw-Hill’s Estimates Lowered at Piper Jaffray (MHP)

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Publishing giant The McGraw-Hill Companies, Inc. ( MHP ) on Wednesday saw its earnings estimate cut by analysts at Piper Jaffray, which cited continued volatility in new debt issuance volumes.

The firm lowered its full-year 2010 profit estimates for MHP from $2.65 to $2.63, and cut its 2010 revenue outlook from $6.1769 million to $6.1706 million. It also lowered its full-year 2011 revenue view from $6.6047 million to $6.6042 million. Piper Jaffray left its "Overweight" rating and $45 price target for the stock unchanged.

McGraw-Hill shares, which had closed at $28.21 on Tuesday, rose 39 cents, or +1.4%, in premarket trading Wednesday.

The Bottom Line
We have been avoiding shares of MHP since our early June 2008 coverage began, when the stock was trading in the low $40s. The company has a 3.33% dividend yield, based on last night's closing stock price of $28.21. The stock has technical support in the $24 price area. If the shares can firm up, we see overhead resistance around the $30-$32 price levels. We would remain on the sidelines for now.

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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