Jefferies Group Comments on MDC Partners Inc.’s FY2017 Earnings (MDCA)

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.

Earnings History and Estimates for MDC Partners (NASDAQ:MDCA)

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