MDC Partners Inc. (MDCA) Now Covered by Royal Bank Of Canada
Research analysts at Royal Bank Of Canada assumed coverage on shares of MDC Partners Inc. (NASDAQ:MDCA) in a research report issued to clients and investors on Friday. The firm set a “sector perform” rating and a $12.00 price target on the stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 9.09% from the stock’s current price.
Other analysts also recently issued reports about the company. RBC Capital Markets assumed coverage on MDC Partners in a report on Thursday. They issued a “sector perform” rating for the company. BMO Capital Markets reiterated a “buy” rating and issued a $26.00 price target on shares of MDC Partners in a report on Wednesday, July 6th. Telsey Advisory Group downgraded MDC Partners from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $28.50 to $22.00 in a report on Friday, July 29th. Jefferies Group downgraded MDC Partners from a “buy” rating to a “hold” rating and lowered their price target for the company from $24.00 to $17.00 in a report on Friday, July 29th. Finally, Wedbush lowered their price target on MDC Partners from $26.00 to $23.00 and set an “outperform” rating for the company in a report on Friday, July 29th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. MDC Partners presently has a consensus rating of “Buy” and an average target price of $20.89.
Shares of MDC Partners (NASDAQ:MDCA) opened at 11.00 on Friday. MDC Partners has a 12-month low of $10.32 and a 12-month high of $23.90. The stock’s market capitalization is $588.34 million. The stock has a 50 day moving average price of $11.88 and a 200 day moving average price of $16.88.
MDC Partners (NASDAQ:MDCA) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by $0.13. The company earned $337.05 million during the quarter, compared to analysts’ expectations of $346.02 million. During the same period in the prior year, the company posted $0.59 EPS. The company’s quarterly revenue was up .1% compared to the same quarter last year. On average, equities analysts anticipate that MDC Partners will post $0.89 earnings per share for the current fiscal year.
In other news, CEO Scott L. Kauffman purchased 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 29th. The stock was acquired at an average cost of $12.19 per share, for a total transaction of $60,950.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.00% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the company. Independent Portfolio Consultants Inc. boosted its position in shares of MDC Partners by 23.3% in the third quarter. Independent Portfolio Consultants Inc. now owns 11,360 shares of the company’s stock worth $122,000 after buying an additional 2,145 shares in the last quarter. Macquarie Group Ltd. acquired a new position in shares of MDC Partners during the second quarter worth about $915,000. Sterling Capital Management LLC acquired a new position in shares of MDC Partners during the second quarter worth about $570,000. Schwab Charles Investment Management Inc. boosted its position in shares of MDC Partners by 21.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 78,880 shares of the company’s stock worth $1,443,000 after buying an additional 13,800 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in shares of MDC Partners by 16.2% in the second quarter. Legal & General Group Plc now owns 6,875 shares of the company’s stock worth $124,000 after buying an additional 959 shares in the last quarter.
MDC Partners Company Profile
MDC Partners Inc is a provider of marketing, advertising, activation, communications and strategic consulting solutions. The Company’s segment is Advertising and Communications. It operates through a network of Partner Firms. The Advertising and Communications segment consists of integrated marketing consulting services to Partner Firms that offers advertising, marketing, media, communications solutions, and specialized consumer insights and analytics, including global advertising and marketing services; media buying, planning and optimization; interactive and mobile marketing; direct marketing; public relations; corporate communications; market research; corporate identity and branding services; sales promotion; the design, development, research and implementation of consumer services, and direct marketing services.
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