Wells Fargo & Company Reiterates Hold Rating for MDC Partners Inc. (MDCA)
MDC Partners Inc. (NASDAQ:MDCA)‘s stock had its “hold” rating restated by analysts at Wells Fargo & Company in a report released on Tuesday. They presently have a $12.00 price target on the business services provider’s stock. Wells Fargo & Company’s target price would suggest a potential upside of 8.11% from the company’s previous close.
The analysts wrote, “We believe MDC remains committed to delivering and note that mgmt. reiterated expectations to pay down DAC by $70MM-$80MM in FY’18. USD 2016A 2017E 2018E EPS Curr. Prior Curr. Prior Q1 (Mar.) ($0.47) ($0.21) A NC $0.04 NC Q2 (June) 0.02 0.14 A NC 0.09 0.12 Q3 (Sep.) (0.62) 0.24 A 0.10 0.17 0.20 Q4 (Dec.) 0.15 0.21 0.24 0.37 0.36 FY ($0.92) $0.37 0.27 $0.68 0.71 CY ($0.92) $0.37 $0.68 FY P/EPS NM 30.1x 16.4x Rev.(MM) $1,386 $1,519 $1,592 Source: Company Data, Wells Fargo Securities, LLC estimates, and Reuters NA = Not Available, NC = No Change, NE = No Estimate, NM = Not Meaningful V = Volatile, = Company is on the Priority Stock List Ticker MDCA Price Target/Prior: $12.00/$11.00 Price (10/30/2017) $11.15 52-Week Range: $2-13 Shares Outstanding: (MM) 57.9 Market Cap.: (MM) $645.6 S&P 500: 2,367.34 Avg. Daily Vol.: 373,822 Dividend/Yield: $0.00/0.0% LT Debt: (MM) $930.9 LT Debt/Total Cap.: NM ROE: NM 3-5 Yr. Est.””
Several other research analysts have also recently weighed in on the stock. BMO Capital Markets restated a “buy” rating and issued a $15.00 price objective on shares of MDC Partners in a research report on Wednesday, October 18th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $12.00 price target (up from $10.00) on shares of MDC Partners in a report on Tuesday, August 8th. BidaskClub raised shares of MDC Partners from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 19th. Zacks Investment Research upgraded shares of MDC Partners from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research report on Tuesday, July 18th. Finally, Jefferies Group LLC restated a “buy” rating on shares of MDC Partners in a research report on Thursday, September 21st. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. MDC Partners presently has an average rating of “Hold” and a consensus price target of $12.13.
Shares of MDC Partners (NASDAQ:MDCA) opened at 11.15 on Tuesday. MDC Partners has a 12 month low of $2.75 and a 12 month high of $12.26. The stock has a 50 day moving average price of $10.83 and a 200 day moving average price of $9.68. The stock’s market cap is $651.61 million.
MDC Partners (NASDAQ:MDCA) last issued its quarterly earnings results on Monday, October 30th. The business services provider reported $0.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.12. MDC Partners had a negative return on equity of 5.72% and a negative net margin of 1.70%. The company had revenue of $375.80 million for the quarter, compared to the consensus estimate of $372.08 million. During the same period last year, the business posted ($0.62) earnings per share. The firm’s revenue was up 7.6% compared to the same quarter last year. Equities analysts anticipate that MDC Partners will post $0.34 EPS for the current fiscal year.
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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. bought a new position in MDC Partners during the second quarter worth $101,000. Karp Capital Management Corp bought a new position in MDC Partners during the first quarter worth $101,000. Emerald Mutual Fund Advisers Trust bought a new position in MDC Partners during the second quarter worth $136,000. Stifel Financial Corp raised its stake in MDC Partners by 3.8% during the first quarter. Stifel Financial Corp now owns 13,895 shares of the business services provider’s stock worth $131,000 after buying an additional 515 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in MDC Partners by 0.9% during the first quarter. Legal & General Group Plc now owns 14,767 shares of the business services provider’s stock worth $139,000 after buying an additional 127 shares during the last quarter. 83.72% of the stock is owned by institutional investors and hedge funds.
MDC Partners Company Profile
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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