Brokerages Set MDC Partners Inc. (NASDAQ:MDCA) Target Price at $23.67
Shares of MDC Partners Inc. (NASDAQ:MDCA) have been assigned a consensus recommendation of “Buy” from the nine analysts that are presently covering the firm. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $23.67.
Several research firms have weighed in on MDCA. Albert Fried & Company reaffirmed a “buy” rating and set a $17.00 target price on shares of MDC Partners in a research note on Thursday, September 8th. Telsey Advisory Group cut MDC Partners from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $28.50 to $22.00 in a research note on Friday, July 29th. BMO Capital Markets reaffirmed a “buy” rating and set a $26.00 target price on shares of MDC Partners in a research note on Wednesday, July 6th. Zacks Investment Research cut MDC Partners from a “buy” rating to a “hold” rating in a research note on Tuesday, August 2nd. Finally, Wedbush lowered their target price on MDC Partners from $26.00 to $23.00 and set an “outperform” rating on the stock in a research note on Friday, July 29th.
In related news, CEO Scott L. Kauffman bought 10,000 shares of MDC Partners stock in a transaction that occurred on Friday, August 12th. The stock was purchased at an average cost of $13.27 per share, for a total transaction of $132,700.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.00% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of the company. Quantbot Technologies LP bought a new stake in MDC Partners during the second quarter valued at $112,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in MDC Partners during the second quarter valued at $114,000. Legal & General Group Plc raised its stake in MDC Partners by 16.2% in the second quarter. Legal & General Group Plc now owns 6,875 shares of the company’s stock valued at $124,000 after buying an additional 959 shares during the period. US Bancorp DE raised its stake in MDC Partners by 16.6% in the second quarter. US Bancorp DE now owns 6,848 shares of the company’s stock valued at $125,000 after buying an additional 973 shares during the period. Finally, Teacher Retirement System of Texas bought a new stake in MDC Partners during the second quarter valued at $127,000.
Shares of MDC Partners (NASDAQ:MDCA) opened at 11.75 on Thursday. MDC Partners has a 1-year low of $11.52 and a 1-year high of $23.90. The stock’s 50 day moving average is $12.80 and its 200-day moving average is $17.87. The stock’s market cap is $628.45 million.
MDC Partners (NASDAQ:MDCA) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by $0.13. The business earned $337.05 million during the quarter, compared to analysts’ expectations of $346.02 million. The company’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.59 EPS. On average, analysts anticipate that MDC Partners will post $0.89 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 24th. Investors of record on Wednesday, August 10th were paid a $0.21 dividend. The ex-dividend date of this dividend was Monday, August 8th. This represents a $0.84 annualized dividend and a dividend yield of 7.15%. MDC Partners’s payout ratio is -73.04%.
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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