MDC Partners Inc. (MDCA) Given Buy Rating at BMO Capital Markets
BMO Capital Markets reaffirmed their buy rating on shares of MDC Partners Inc. (NASDAQ:MDCA) in a report released on Wednesday. BMO Capital Markets currently has a $15.00 price objective on the business services provider’s stock.
Several other brokerages have also issued reports on MDCA. Royal Bank Of Canada reissued a sector perform rating and set a $12.00 target price (up from $10.00) on shares of MDC Partners in a research note on Tuesday, August 8th. BidaskClub raised shares of MDC Partners from a buy rating to a strong-buy rating in a research note on Wednesday, July 19th. Zacks Investment Research raised shares of MDC Partners from a hold rating to a buy rating and set a $12.00 target price on the stock in a research note on Tuesday, July 18th. Finally, Jefferies Group LLC increased their target price on shares of MDC Partners to $12.00 and gave the stock a buy rating in a research note on Monday, June 5th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. MDC Partners currently has an average rating of Hold and a consensus target price of $12.14.
Shares of MDC Partners (NASDAQ:MDCA) opened at 9.75 on Wednesday. The firm’s market capitalization is $569.79 million. The company’s 50 day moving average is $9.96 and its 200-day moving average is $9.21. MDC Partners has a one year low of $2.75 and a one year high of $11.83.
MDC Partners (NASDAQ:MDCA) last issued its earnings results on Monday, August 7th. The business services provider reported $0.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.02). The company had revenue of $390.53 million for the quarter, compared to the consensus estimate of $368.74 million. MDC Partners had a negative return on equity of 5.72% and a negative net margin of 1.70%. The firm’s revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.02 earnings per share. Equities analysts expect that MDC Partners will post $0.31 EPS for the current year.
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Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. acquired a new position in MDC Partners during the second quarter worth $101,000. Karp Capital Management Corp acquired a new position in MDC Partners during the first quarter worth $101,000. 1st Global Advisors Inc. acquired a new position in MDC Partners during the first quarter worth $119,000. Parkwood LLC acquired a new position in MDC Partners during the first quarter worth $126,000. Finally, Emerald Mutual Fund Advisers Trust acquired a new position in MDC Partners during the second quarter worth $136,000. Hedge funds and other 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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