BMO Capital Markets reissued their buy rating on shares of MDC Partners Inc. (NASDAQ:MDCA) in a research report released on Wednesday. BMO Capital Markets currently has a $15.00 price target on the business services provider’s stock.
Other equities analysts have also recently issued reports about the company. Jefferies Group LLC reiterated a buy rating on shares of MDC Partners in a report on Thursday, September 21st. BidaskClub cut MDC Partners from a strong-buy rating to a buy rating in a report on Thursday, August 3rd. Zacks Investment Research upgraded MDC Partners from a hold rating to a buy rating and set a $12.00 target price on the stock in a report on Tuesday, July 18th. Finally, Royal Bank Of Canada restated a hold rating on shares of MDC Partners in a research note on Thursday, July 6th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $12.14.
MDC Partners (MDCA) traded down 0.43% during mid-day trading on Wednesday, hitting $11.70. 230,308 shares of the stock were exchanged. The company’s market capitalization is $683.75 million. MDC Partners has a 1-year low of $2.75 and a 1-year high of $11.95. The stock has a 50 day moving average price of $10.43 and a 200 day moving average price of $9.52.
MDC Partners (NASDAQ:MDCA) last issued its earnings results on Monday, August 7th. The business services provider reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). MDC Partners had a negative return on equity of 5.72% and a negative net margin of 1.70%. The firm had revenue of $390.53 million during the quarter, compared to the consensus estimate of $368.74 million. During the same quarter in the prior year, the business earned $0.02 earnings per share. MDC Partners’s revenue for the quarter was up 15.9% on a year-over-year basis. On average, equities analysts anticipate that MDC Partners will post $0.34 earnings per share for the current fiscal year.
Several institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio purchased a new stake in shares of MDC Partners during the 2nd quarter valued at $590,000. 1st Global Advisors Inc. increased its position in shares of MDC Partners by 52.4% during the 2nd quarter. 1st Global Advisors Inc. now owns 19,365 shares of the business services provider’s stock valued at $192,000 after purchasing an additional 6,655 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of MDC Partners by 10.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 44,061 shares of the business services provider’s stock valued at $436,000 after purchasing an additional 4,169 shares during the last quarter. State Street Corp increased its position in shares of MDC Partners by 7.3% during the 2nd quarter. State Street Corp now owns 1,000,383 shares of the business services provider’s stock valued at $9,904,000 after purchasing an additional 68,222 shares during the last quarter. Finally, HighTower Advisors LLC increased its position in shares of MDC Partners by 54.9% during the 2nd quarter. HighTower Advisors LLC now owns 19,177 shares of the business services provider’s stock valued at $191,000 after purchasing an additional 6,800 shares during the last quarter. 83.69% of the stock is owned by hedge funds and other institutional investors.
About MDC Partners
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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