MDC Partners Inc. (MDCA) Research Coverage Started at Royal Bank Of Canada
Royal Bank Of Canada began coverage on shares of MDC Partners Inc. (NASDAQ:MDCA) in a research report released on Friday morning. The brokerage issued a sector perform rating and a $12.00 price objective on the stock.
Other analysts have also issued reports about the company. BMO Capital Markets reaffirmed a buy rating and set a $26.00 target price on shares of MDC Partners in a report on Wednesday, July 6th. Telsey Advisory Group lowered MDC Partners from an outperform rating to a market perform rating and dropped their price objective for the company from $28.50 to $22.00 in a report on Friday, July 29th. Jefferies Group lowered MDC Partners from a buy rating to a hold rating and dropped their price objective for the company from $24.00 to $17.00 in a report on Friday, July 29th. RBC Capital Markets started coverage on MDC Partners in a report on Thursday, October 6th. They issued a sector perform rating and a $12.00 price objective on the stock. Finally, Albert Fried & Company raised MDC Partners from an underweight rating to an overweight rating in a report on Friday, July 29th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $20.00.
Shares of MDC Partners (NASDAQ:MDCA) opened at 10.75 on Friday. The stock’s 50 day moving average price is $11.61 and its 200 day moving average price is $16.53. The stock’s market capitalization is $574.96 million. MDC Partners has a one year low of $10.32 and a one year high of $23.90.
MDC Partners (NASDAQ:MDCA) last posted its earnings results on Thursday, July 28th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.15 by $0.13. The company earned $337.05 million during the quarter, compared to analysts’ expectations of $346.02 million. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter last year, the business posted $0.59 earnings per share. Equities research analysts predict that MDC Partners will post $0.89 EPS for the current fiscal year.
In other news, CEO Scott L. Kauffman bought 10,000 shares of the firm’s stock in a transaction dated Thursday, August 4th. The shares were acquired at an average price of $13.86 per share, for a total transaction of $138,600.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.00% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in MDCA. Eagle Asset Management Inc. increased its position in MDC Partners by 23.3% in the third quarter. Eagle Asset Management Inc. now owns 376,585 shares of the company’s stock valued at $4,036,000 after buying an additional 71,251 shares during the period. Independent Portfolio Consultants Inc. increased its position in shares of MDC Partners by 23.3% in the third quarter. Independent Portfolio Consultants Inc. now owns 11,360 shares of the company’s stock worth $122,000 after buying an additional 2,145 shares during the last quarter. Macquarie Group Ltd. bought a new position in shares of MDC Partners during the second quarter worth approximately $915,000. Sterling Capital Management LLC bought a new position in shares of MDC Partners during the second quarter worth approximately $570,000. Finally, Schwab Charles Investment Management Inc. increased its position in shares of MDC Partners by 21.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 78,880 shares of the company’s stock worth $1,443,000 after buying an additional 13,800 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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