BMO Capital Markets restated their buy rating on shares of MDC Partners Inc. (NASDAQ:MDCA) in a research note released on Wednesday, October 18th. BMO Capital Markets currently has a $15.00 target price on the business services provider’s stock.
Other research analysts have also recently issued reports about the stock. Royal Bank Of Canada restated a hold rating on shares of MDC Partners in a research report on Thursday, July 6th. Jefferies Group LLC restated a buy rating on shares of MDC Partners in a research report on Thursday, September 21st. BidaskClub upgraded shares of MDC Partners from a buy rating to a strong-buy rating in a research report on Wednesday, July 19th. Finally, Zacks Investment Research downgraded shares of MDC Partners from a buy rating to a hold rating in a research report on Wednesday, July 19th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has an average rating of Hold and an average target price of $12.14.
Shares of MDC Partners (MDCA) traded down 6.09% on Wednesday, hitting $10.80. The stock had a trading volume of 758,276 shares. MDC Partners has a 12-month low of $2.75 and a 12-month high of $12.26. The firm’s market cap is $631.15 million. The stock has a 50 day moving average of $10.78 and a 200 day moving average of $9.64.
MDC Partners (NASDAQ:MDCA) last posted its quarterly earnings data on Monday, August 7th. The business services provider reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.02). The company had revenue of $390.53 million during the quarter, compared to the consensus estimate of $368.74 million. MDC Partners had a negative net margin of 1.70% and a negative return on equity of 5.72%. The company’s revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the business earned $0.02 earnings per share. Equities analysts predict that MDC Partners will post $0.34 earnings per share for the current fiscal year.
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Several institutional investors and hedge funds have recently made changes to their positions in MDCA. Penn Capital Management Co. Inc. grew its stake in MDC Partners by 191.3% in the 2nd quarter. Penn Capital Management Co. Inc. now owns 698,005 shares of the business services provider’s stock valued at $6,916,000 after buying an additional 458,350 shares during the last quarter. Redwood Capital Management LLC grew its stake in MDC Partners by 110.9% in the 2nd quarter. Redwood Capital Management LLC now owns 853,970 shares of the business services provider’s stock valued at $8,454,000 after buying an additional 449,030 shares during the last quarter. FMR LLC grew its stake in MDC Partners by 5.3% in the 1st quarter. FMR LLC now owns 8,291,115 shares of the business services provider’s stock valued at $77,936,000 after buying an additional 416,974 shares during the last quarter. Kennedy Capital Management Inc. acquired a new position in MDC Partners in the 2nd quarter valued at $3,374,000. Finally, Teachers Advisors LLC grew its stake in MDC Partners by 17.8% in the 1st quarter. Teachers Advisors LLC now owns 2,185,734 shares of the business services provider’s stock valued at $20,546,000 after buying an additional 330,783 shares during the last quarter. Institutional investors own 83.69% of the company’s stock.
About MDC Partners
MDC Partners Inc is a provider of global marketing, advertising, activation, communications and strategic consulting solutions. The Company and its subsidiary agencies (Partner Firms) deliver a range of customized services. The Company’s segments include Reportable Segment, All Other and Corporate. The Reportable segment consists of the Company’s integrated advertising, media and public relations service companies.
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