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.

Analyst Recommendations for MDC Partners (NASDAQ:MDCA)

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