MDC Partners (MDCA) Lowered to “Hold” at Zacks Investment Research
Zacks Investment Research cut shares of MDC Partners (NASDAQ:MDCA) from a buy rating to a hold rating in a report issued on Wednesday.
According to Zacks, “MDC Partners Inc. is a marketing communications firm providing marketing communication and consulting services throughout the United States, Canada, and the United Kingdom. Its services includes advertising and media, interactive marketing, direct marketing, public relations, corporate communications, market research, corporate identity and branding, and sales promotion. The Company also provides mobile marketing, and database and customer relationship management services. MDC Corporation Inc. is headquartered in Toronto, Canada. “
MDCA has been the subject of a number of other research reports. BMO Capital Markets restated a buy rating and set a $15.00 price objective on shares of MDC Partners in a report on Wednesday, October 18th. BidaskClub cut MDC Partners from a buy rating to a hold rating in a report on Thursday, December 7th. Wells Fargo & Company restated a hold rating and set a $12.00 price objective on shares of MDC Partners in a report on Tuesday, October 31st. Jefferies Group restated a buy rating on shares of MDC Partners in a report on Thursday, September 21st. Finally, Royal Bank of Canada restated a hold rating and set a $12.00 price objective on shares of MDC Partners in a report on Wednesday, September 13th. Six investment analysts have rated the stock with a hold rating and two 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 $12.00.
MDC Partners (NASDAQ MDCA) traded up $0.40 during trading on Wednesday, reaching $11.45. The company had a trading volume of 375,800 shares, compared to its average volume of 408,812. MDC Partners has a fifty-two week low of $6.10 and a fifty-two week high of $12.26. The company has a debt-to-equity ratio of -1.94, a current ratio of 0.71 and a quick ratio of 0.71. The company has a market capitalization of $644.88, a PE ratio of 20.09, a P/E/G ratio of 4.38 and a beta of 1.44.
MDC Partners (NASDAQ:MDCA) last posted its quarterly earnings results on Monday, October 30th. The business services provider reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.12. MDC Partners had a negative return on equity of 7.92% and a net margin of 1.79%. The business had revenue of $375.80 million during the quarter, compared to analysts’ expectations of $372.08 million. During the same quarter last year, the company posted ($0.62) earnings per share. MDC Partners’s quarterly revenue was up 7.6% on a year-over-year basis. sell-side analysts anticipate that MDC Partners will post 0.42 earnings per share for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Boston Partners raised its position in shares of MDC Partners by 19.9% in the third quarter. Boston Partners now owns 2,339,370 shares of the business services provider’s stock valued at $25,733,000 after buying an additional 387,530 shares in the last quarter. Teachers Advisors LLC raised its position in shares of MDC Partners by 0.4% in the second quarter. Teachers Advisors LLC now owns 2,194,168 shares of the business services provider’s stock valued at $21,722,000 after buying an additional 8,434 shares in the last quarter. Schroder Investment Management Group raised its position in shares of MDC Partners by 15.5% in the third quarter. Schroder Investment Management Group now owns 1,736,989 shares of the business services provider’s stock valued at $19,020,000 after buying an additional 232,653 shares in the last quarter. Vanguard Group Inc. raised its position in shares of MDC Partners by 7.6% in the second quarter. Vanguard Group Inc. now owns 1,503,063 shares of the business services provider’s stock valued at $14,881,000 after buying an additional 105,949 shares in the last quarter. Finally, Taylor Asset Management Inc. raised its position in shares of MDC Partners by 1.2% in the second quarter. Taylor Asset Management Inc. now owns 1,331,965 shares of the business services provider’s stock valued at $13,186,000 after buying an additional 16,304 shares in the last quarter. Institutional investors own 83.57% 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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