RBC Capital Markets Initiates Coverage on MDC Partners Inc. (MDCA)
Stock analysts at RBC Capital Markets initiated coverage on shares of MDC Partners Inc. (NASDAQ:MDCA) in a note issued to investors on Thursday. The brokerage set a “sector perform” rating and a $12.00 price target on the stock. RBC Capital Markets’ target price would suggest a potential upside of 13.64% from the company’s previous close.
Several other analysts also recently commented on the company. Wedbush reaffirmed an “outperform” rating and set a $20.00 price objective on shares of MDC Partners in a research note on Friday, September 30th. Zacks Investment Research raised MDC Partners from a “strong sell” rating to a “hold” rating in a research note on Thursday, September 29th. Albert Fried & Company reaffirmed a “buy” rating and set a $17.00 price objective on shares of MDC Partners in a research note on Thursday, September 8th. Jefferies Group reissued a “hold” rating on shares of MDC Partners in a research note on Monday, August 29th. Finally, Telsey Advisory Group downgraded MDC Partners from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $28.50 to $22.00 in a research note on Friday, July 29th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. MDC Partners has an average rating of “Buy” and an average price target of $20.00.
Shares of MDC Partners (NASDAQ:MDCA) opened at 10.56 on Thursday. MDC Partners has a one year low of $10.32 and a one year high of $23.90. The firm’s market cap is $564.80 million. The firm has a 50-day moving average price of $11.80 and a 200 day moving average price of $16.79.
MDC Partners (NASDAQ:MDCA) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by $0.13. The business earned $337.05 million during the quarter, compared to analysts’ expectations of $346.02 million. The firm’s revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.59 earnings per share. On average, analysts forecast that MDC Partners will post $0.89 earnings per share for the current fiscal year.
In other news, CEO Scott L. Kauffman acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 12th. The stock was purchased at an average cost of $13.27 per share, with a total value of $132,700.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 2.00% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in MDCA. Quantbot Technologies LP purchased a new position in MDC Partners during the second quarter valued at $112,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in MDC Partners during the second quarter valued at $114,000. Independent Portfolio Consultants Inc. increased its position in MDC Partners by 23.3% in the third quarter. Independent Portfolio Consultants Inc. now owns 11,360 shares of the company’s stock valued at $122,000 after buying an additional 2,145 shares during the last quarter. Legal & General Group Plc increased its position in MDC Partners by 16.2% in the second quarter. Legal & General Group Plc now owns 6,875 shares of the company’s stock valued at $124,000 after buying an additional 959 shares during the last quarter. Finally, US Bancorp DE increased its position in MDC Partners by 16.6% in the second quarter. US Bancorp DE now owns 6,848 shares of the company’s stock valued at $125,000 after buying an additional 973 shares during the last quarter.
MDC Partners Company Profile
MDC Partners Inc is a provider of marketing, advertising, activation, communications and strategic consulting solutions. The Company’s segment is Advertising and Communications. It operates through a network of Partner Firms. The Advertising and Communications segment consists of integrated marketing consulting services to Partner Firms that offers advertising, marketing, media, communications solutions, and specialized consumer insights and analytics, including global advertising and marketing services; media buying, planning and optimization; interactive and mobile marketing; direct marketing; public relations; corporate communications; market research; corporate identity and branding services; sales promotion; the design, development, research and implementation of consumer services, and direct marketing services.
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