Zacks: Analysts Expect MDC Partners Inc. (MDCA) Will Announce Quarterly Sales of $370.75 Million
Brokerages expect MDC Partners Inc. (NASDAQ:MDCA) to announce sales of $370.75 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for MDC Partners’ earnings, with the lowest sales estimate coming in at $368.20 million and the highest estimate coming in at $373.30 million. MDC Partners posted sales of $349.25 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 6.2%. The firm is scheduled to announce its next earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that MDC Partners will report full year sales of $370.75 million for the current financial year, with estimates ranging from $1.51 billion to $1.53 billion. For the next fiscal year, analysts anticipate that the business will post sales of $1.60 billion per share, with estimates ranging from $1.58 billion to $1.62 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow MDC Partners.
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). MDC Partners had a negative return on equity of 5.72% and a negative net margin of 1.70%. The business had revenue of $390.53 million for the quarter, compared to analysts’ expectations of $368.74 million. During the same period last year, the business earned $0.02 EPS. The company’s revenue for the quarter was up 15.9% on a year-over-year basis.
MDCA has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of MDC Partners from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research note on Tuesday, July 18th. BidaskClub cut shares of MDC Partners from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 3rd. Royal Bank Of Canada reiterated a “sector perform” rating and set a $12.00 price target (up previously from $10.00) on shares of MDC Partners in a research note on Tuesday, August 8th. Jefferies Group LLC reiterated a “buy” rating on shares of MDC Partners in a research note on Thursday, September 21st. Finally, BMO Capital Markets reiterated a “buy” rating and set a $15.00 price target on shares of MDC Partners in a research note on Wednesday, September 13th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. MDC Partners presently has an average rating of “Hold” and an average target price of $12.14.
Institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. purchased a new position in MDC Partners during the 2nd quarter worth $101,000. Karp Capital Management Corp purchased a new position in MDC Partners during the 1st quarter worth $101,000. Emerald Mutual Fund Advisers Trust purchased a new position in MDC Partners during the 2nd quarter worth $136,000. Stifel Financial Corp raised its position in MDC Partners by 3.8% during the 1st quarter. Stifel Financial Corp now owns 13,895 shares of the business services provider’s stock worth $131,000 after buying an additional 515 shares during the last quarter. Finally, Legal & General Group Plc raised its position in MDC Partners by 0.9% during the 1st quarter. Legal & General Group Plc now owns 14,767 shares of the business services provider’s stock worth $139,000 after buying an additional 127 shares during the last quarter. Institutional investors own 83.69% of the company’s stock.
MDC Partners (MDCA) opened at 10.80 on Tuesday. The company’s 50 day moving average is $10.16 and its 200 day moving average is $9.42. MDC Partners has a one year low of $2.75 and a one year high of $11.43. The stock’s market cap is $631.15 million.
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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