MDC Partners Inc. to Post Q3 2017 Earnings of $0.12 Per Share, Jefferies Group Forecasts (MDCA)
MDC Partners Inc. (NASDAQ:MDCA) – Investment analysts at Jefferies Group lowered their Q3 2017 earnings per share estimates for shares of MDC Partners in a research report issued to clients and investors on Monday. Jefferies Group analyst J. Janedis now expects that the business services provider will post earnings of $0.12 per share for the quarter, down from their prior forecast of $0.13. Jefferies Group currently has a “Buy” rating and a $12.00 price target on the stock. Jefferies Group also issued estimates for MDC Partners’ Q4 2017 earnings at $0.24 EPS, Q4 2018 earnings at $0.29 EPS, FY2018 earnings at $0.56 EPS and FY2019 earnings at $0.75 EPS.
MDC Partners (NASDAQ:MDCA) last posted its quarterly earnings results on Monday, August 7th. The business services provider reported $0.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.02. The firm had revenue of $390.53 million during the quarter, compared to the consensus estimate of $368.74 million. MDC Partners had a negative return on equity of 5.66% and a negative net margin of 1.70%. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.02 earnings per share. TRADEMARK VIOLATION NOTICE: This story was originally published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this story on another website, it was illegally copied and republished in violation of United States & international trademark & copyright law. The original version of this story can be viewed at https://www.thecerbatgem.com/2017/08/10/mdc-partners-inc-to-post-q3-2017-earnings-of-0-12-per-share-jefferies-group-forecasts-mdca.html.
Other equities research analysts have also recently issued research reports about the stock. BidaskClub cut shares of MDC Partners from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 3rd. Zacks Investment Research raised shares of MDC Partners from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Tuesday, July 18th. BMO Capital Markets reissued a “buy” rating and issued a $15.00 price target on shares of MDC Partners in a research note on Monday, April 17th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $10.00 target price on shares of MDC Partners in a research note on Monday, May 1st. Finally, Wells Fargo & Company reaffirmed a “hold” rating on shares of MDC Partners in a research note on Friday, April 28th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $12.14.
MDC Partners (NASDAQ:MDCA) opened at 11.30 on Wednesday. MDC Partners has a 12-month low of $2.75 and a 12-month high of $14.27. The stock has a 50 day moving average of $9.59 and a 200 day moving average of $8.62. The stock’s market cap is $643.43 million.
Several hedge funds and other institutional investors have recently bought and sold shares of MDCA. Rubric Capital Management LP raised its position in MDC Partners by 218.7% in the first quarter. Rubric Capital Management LP now owns 1,114,400 shares of the business services provider’s stock valued at $10,475,000 after buying an additional 764,717 shares in the last quarter. ACT II Management LP bought a new position in MDC Partners during the first quarter valued at approximately $3,986,000. Schroder Investment Management Group raised its position in MDC Partners by 40.4% in the first quarter. Schroder Investment Management Group now owns 1,456,283 shares of the business services provider’s stock valued at $13,835,000 after buying an additional 418,677 shares in the last quarter. FMR LLC raised its position in MDC Partners by 5.3% in the first 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 in the last quarter. Finally, Corsair Capital Management L.P. raised its position in MDC Partners by 1,325.8% in the first quarter. Corsair Capital Management L.P. now owns 356,452 shares of the business services provider’s stock valued at $3,351,000 after buying an additional 331,452 shares in the last quarter. Institutional investors and hedge funds own 86.27% 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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