RBC Capital Markets Initiates Coverage on MDC Partners Inc. (MDCA)
Research analysts at RBC Capital Markets began coverage on shares of MDC Partners Inc. (NASDAQ:MDCA) in a research note issued on Thursday. The brokerage set a “sector perform” rating and a $12.00 price target on the stock. RBC Capital Markets’ price target would indicate a potential upside of 13.64% from the stock’s current price.
Several other research firms have also weighed in on MDCA. Albert Fried & Company restated a “buy” rating and set a $23.00 price target on shares of MDC Partners in a report on Sunday, July 3rd. Wedbush restated an “outperform” rating and set a $20.00 price target on shares of MDC Partners in a report on Friday, September 30th. Zacks Investment Research upgraded MDC Partners from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Thursday, July 28th. Jefferies Group restated a “hold” rating on shares of MDC Partners in a report on Monday, August 29th. Finally, BMO Capital Markets restated a “buy” rating and set a $26.00 price target on shares of MDC Partners in a report on Wednesday, July 6th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. MDC Partners presently has an average rating of “Buy” and a consensus target price of $20.00.
MDC Partners (NASDAQ:MDCA) opened at 10.56 on Thursday. The stock’s market cap is $564.80 million. MDC Partners has a 52-week low of $10.32 and a 52-week high of $23.90. The stock has a 50 day moving average price of $11.80 and a 200 day moving average price of $16.79.
MDC Partners (NASDAQ:MDCA) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by $0.13. The company earned $337.05 million during the quarter, compared to the consensus estimate of $346.02 million. During the same quarter in the previous year, the firm earned $0.59 EPS. The business’s revenue for the quarter was up .1% compared to the same quarter last year. Analysts expect that MDC Partners will post $0.89 EPS for the current fiscal year.
In other news, CEO Scott L. Kauffman purchased 5,000 shares of the company’s stock in a transaction dated Monday, August 29th. The shares were acquired at an average price of $12.19 per share, with a total value of $60,950.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 2.00% of the company’s stock.
Several institutional investors have recently bought and sold shares of MDCA. Quantbot Technologies LP purchased a new position in MDC Partners during the second quarter worth about $112,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in MDC Partners during the second quarter worth about $114,000. Independent Portfolio Consultants Inc. increased its position in 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 during the last quarter. Legal & General Group Plc increased its position in 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 during the last quarter. Finally, US Bancorp DE increased its position in MDC Partners by 16.6% in the second quarter. US Bancorp DE now owns 6,848 shares of the company’s stock worth $125,000 after buying an additional 973 shares during the last quarter.
About MDC Partners
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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