BMO Capital Markets Reaffirms “Buy” Rating for MDC Partners Inc. (MDCA)
MDC Partners Inc. (NASDAQ:MDCA)‘s stock had its “buy” rating restated by research analysts at BMO Capital Markets in a research note issued to investors on Wednesday. They currently have a $15.00 target price on the business services provider’s stock. BMO Capital Markets’ price target would indicate a potential upside of 27.66% from the stock’s current price.
Several other research firms have also issued reports on MDCA. 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 report on Tuesday, July 18th. Jefferies Group LLC reissued a “buy” rating on shares of MDC Partners in a research report on Thursday, September 21st. Royal Bank Of Canada reissued a “hold” rating and issued a $12.00 price target on shares of MDC Partners in a research report on Wednesday, September 13th. Finally, BidaskClub raised shares of MDC Partners from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 19th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $12.14.
MDC Partners (NASDAQ:MDCA) opened at 11.75 on Wednesday. The firm’s market cap is $686.67 million. MDC Partners has a 12 month low of $2.75 and a 12 month high of $11.75. The firm’s 50 day moving average is $10.30 and its 200-day moving average is $9.48.
MDC Partners (NASDAQ:MDCA) last posted its quarterly earnings results on Monday, August 7th. The business services provider reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.02). MDC Partners had a negative net margin of 1.70% and a negative return on equity of 5.72%. The business had revenue of $390.53 million during the quarter, compared to the consensus estimate of $368.74 million. During the same period last year, the firm earned $0.02 EPS. The business’s revenue for the quarter was up 15.9% on a year-over-year basis. On average, equities analysts forecast that MDC Partners will post $0.35 EPS for the current year.
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A number of institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc increased its holdings 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 acquiring an additional 127 shares during the period. Stifel Financial Corp increased its holdings 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 acquiring an additional 515 shares during the period. Nationwide Fund Advisors increased its holdings in MDC Partners by 3.5% during the 1st quarter. Nationwide Fund Advisors now owns 32,684 shares of the business services provider’s stock worth $307,000 after acquiring an additional 1,093 shares during the period. Bank of New York Mellon Corp increased its holdings in MDC Partners by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 318,533 shares of the business services provider’s stock worth $3,154,000 after acquiring an additional 1,296 shares during the period. Finally, Oppenheimer & Co. Inc. increased its holdings in MDC Partners by 7.0% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 20,480 shares of the business services provider’s stock worth $203,000 after acquiring an additional 1,340 shares during the period. 83.69% of the stock is currently owned by institutional investors and hedge funds.
MDC Partners Company Profile
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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