MDC Partners Inc. (NASDAQ:MDCA) – Equities researchers at Jefferies Group decreased their FY2017 earnings per share (EPS) estimates for shares of MDC Partners in a report released on Monday. Jefferies Group analyst J. Janedis now anticipates that the business services provider will post earnings per share of $0.30 for the year, down from their previous estimate of $0.33. Jefferies Group has a “Buy” rating and a $12.00 price target 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.
Several other brokerages have also recently weighed in on MDCA. BMO Capital Markets restated a “buy” rating and set a $15.00 price objective on shares of MDC Partners in a research note on Monday, April 17th. Zacks Investment Research raised MDC Partners from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 29th. Royal Bank Of Canada set a $10.00 target price on MDC Partners and gave the company a “hold” rating in a research report on Friday, June 2nd. Wells Fargo & Company reaffirmed a “hold” rating on shares of MDC Partners in a research report on Friday, April 28th. Finally, BidaskClub raised MDC Partners from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 19th. 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 has an average rating of “Hold” and an average price target of $12.14.
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MDC Partners (MDCA) opened at 10.70 on Thursday. The firm has a 50 day moving average of $9.98 and a 200 day moving average of $8.78. MDC Partners has a 12-month low of $2.75 and a 12-month high of $13.97. The firm’s market capitalization is $592.05 million.
MDC Partners (NASDAQ:MDCA) last released its quarterly earnings data on Monday, August 7th. The business services provider reported $0.14 EPS for the quarter, missing the Thomson Reuters’ 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 5.66%. The company had revenue of $390.53 million during the quarter, compared to analyst estimates of $368.74 million. During the same quarter in the prior year, the firm earned $0.02 earnings per share. MDC Partners’s revenue for the quarter was up 15.9% on a year-over-year basis.
Several large investors have recently made changes to their positions in the stock. Rubric Capital Management LP raised its stake in shares of MDC Partners by 218.7% in the first quarter. Rubric Capital Management LP now owns 1,114,400 shares of the business services provider’s stock valued at $10,475,000 after buying an additional 764,717 shares in the last quarter. Penn Capital Management Co. Inc. raised its stake in shares of MDC Partners by 191.3% in the second quarter. Penn Capital Management Co. Inc. now owns 698,005 shares of the business services provider’s stock valued at $6,916,000 after buying an additional 458,350 shares in the last quarter. ACT II Management LP acquired a new stake in shares of MDC Partners during the first quarter valued at about $3,986,000. Schroder Investment Management Group raised its stake in shares of MDC Partners by 40.4% in the first quarter. Schroder Investment Management Group now owns 1,456,283 shares of the business services provider’s stock valued at $13,835,000 after buying an additional 418,677 shares in the last quarter. Finally, FMR LLC raised its stake in shares of MDC Partners by 5.3% in the first quarter. FMR LLC now owns 8,291,115 shares of the business services provider’s stock valued at $77,936,000 after buying an additional 416,974 shares in the last quarter. 86.27% of the stock is owned by hedge funds and other institutional investors.
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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