Jefferies Group Brokers Lower Earnings Estimates for MDC Partners Inc. (MDCA)
MDC Partners Inc. (NASDAQ:MDCA) – Analysts at Jefferies Group cut their FY2017 earnings per share (EPS) estimates for shares of MDC Partners in a research note issued on Monday. Jefferies Group analyst J. Janedis now expects that the business services provider will post earnings of $0.30 per share for the year, down from their prior forecast of $0.33. Jefferies Group has a “Buy” rating and a $12.00 price objective on the stock. Jefferies Group also issued estimates for MDC Partners’ Q2 2018 earnings at $0.10 EPS and Q3 2018 earnings at $0.16 EPS.
MDCA has been the subject of a number of other research reports. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $12.00 price target (up previously from $10.00) on shares of MDC Partners in a research note on Tuesday. 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 cut shares of MDC Partners from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 3rd. Wells Fargo & Company reiterated a “hold” rating on shares of MDC Partners in a research note on Friday, April 28th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $15.00 price target on shares of MDC Partners in a research note on Monday, April 17th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $12.14.
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MDC Partners (MDCA) opened at 11.30 on Thursday. The company has a 50-day moving average of $9.85 and a 200 day moving average of $8.74. The company’s market cap is $643.43 million. MDC Partners has a one year low of $2.75 and a one year high of $13.97.
MDC Partners (NASDAQ:MDCA) last announced its earnings results on Monday, August 7th. The business services provider reported $0.14 EPS for the quarter, missing the 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 was up 15.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.02 EPS.
A number of institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC acquired a new position in MDC Partners during the fourth quarter worth approximately $276,000. Rice Hall James & Associates LLC raised its position in MDC Partners by 5.2% in the first quarter. Rice Hall James & Associates LLC now owns 564,211 shares of the business services provider’s stock valued at $5,304,000 after buying an additional 27,978 shares in the last quarter. Nationwide Fund Advisors raised its position in MDC Partners by 3.5% in the first quarter. Nationwide Fund Advisors now owns 32,684 shares of the business services provider’s stock valued at $307,000 after buying an additional 1,093 shares in the last quarter. Granite Investment Partners LLC purchased a new position in MDC Partners during the first quarter valued at approximately $2,271,000. Finally, Stonebridge Capital Management Inc. raised its position in MDC Partners by 8.9% in the first quarter. Stonebridge Capital Management Inc. now owns 27,486 shares of the business services provider’s stock valued at $258,000 after buying an additional 2,250 shares in the last quarter. 86.27% 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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