MDC Partners Inc. (NASDAQ:MDCA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The brokerage currently has a $12.00 price target on the business services provider’s stock. Zacks Investment Research‘s price objective points to a potential upside of 16.50% from the stock’s current price.
According to Zacks, “MDC Partners Inc. is a marketing communications firm providing marketing communication and consulting services throughout the United States, Canada, and the United Kingdom. Its services includes advertising and media, interactive marketing, direct marketing, public relations, corporate communications, market research, corporate identity and branding, and sales promotion. The Company also provides mobile marketing, and database and customer relationship management services. MDC Corporation Inc. is headquartered in Toronto, Canada. “
A number of other brokerages have also issued reports on MDCA. Royal Bank Of Canada reiterated a “hold” rating on shares of MDC Partners in a research report on Thursday, July 6th. BMO Capital Markets reiterated a “buy” rating and issued a $15.00 target price on shares of MDC Partners in a research report on Monday, April 17th. Jefferies Group LLC reiterated a “buy” rating and issued a $12.00 target price on shares of MDC Partners in a research report on Tuesday, March 21st. Finally, Wells Fargo & Company reiterated a “hold” rating on shares of MDC Partners in a research report on Friday, April 28th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. MDC Partners has a consensus rating of “Buy” and a consensus target price of $11.86.
Shares of MDC Partners (NASDAQ MDCA) opened at 10.35 on Tuesday. The firm’s market cap is $589.34 million. The company has a 50 day moving average of $8.54 and a 200 day moving average of $8.05. MDC Partners has a 52 week low of $2.75 and a 52 week high of $18.64.
MDC Partners (NASDAQ:MDCA) last announced its earnings results on Thursday, April 27th. The business services provider reported ($0.21) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.08 by $0.29. The company had revenue of $344.70 million during the quarter, compared to the consensus estimate of $335.32 million. MDC Partners had a negative net margin of 2.48% and a negative return on equity of 3.65%. The business’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.47) EPS. On average, equities research analysts anticipate that MDC Partners will post $0.26 EPS for the current fiscal year.
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A number of large investors have recently modified their holdings of the stock. Swiss National Bank increased its stake in shares of MDC Partners by 12.4% in the first quarter. Swiss National Bank now owns 88,000 shares of the business services provider’s stock worth $827,000 after buying an additional 9,700 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of MDC Partners by 8.5% in the first quarter. Bank of New York Mellon Corp now owns 317,237 shares of the business services provider’s stock worth $2,983,000 after buying an additional 24,894 shares during the last quarter. HPM Partners LLC acquired a new stake in shares of MDC Partners during the first quarter worth $522,000. Wells Fargo & Company MN increased its stake in shares of MDC Partners by 0.7% in the first quarter. Wells Fargo & Company MN now owns 2,402,505 shares of the business services provider’s stock worth $22,583,000 after buying an additional 17,452 shares during the last quarter. Finally, Rubric Capital Management LP increased 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 worth $10,475,000 after buying an additional 764,717 shares during the last quarter. 86.14% of the stock is owned by institutional investors.
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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