MDC Partners Trading Down 11% After Earnings Miss (MDCA)
Shares of MDC Partners (NASDAQ:MDCA) traded down 11% during trading on Friday following a dissappointing earnings announcement, American Banking and Market News reports. The stock traded as low as $21.84 and last traded at $22.61, with a volume of 664,576 shares traded. The stock had previously closed at $25.41.
The company reported ($1.98) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.62) by $1.36. The company had revenue of $307.10 million for the quarter, compared to the consensus estimate of $322.93 million.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, March 18th. Shareholders of record on Tuesday, March 4th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.90%. The ex-dividend date is Friday, February 28th.
A number of analysts have recently weighed in on MDCA shares. Analysts at Albert Fried & Company raised their price target on shares of MDC Partners from $27.00 to $35.00 in a research note on Monday, December 30th. Analysts at Zacks downgraded shares of MDC Partners from a “neutral” rating to an “underperform” rating in a research note on Friday, December 27th. They now have a $23.70 price target on the stock. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. MDC Partners has a consensus rating of “Buy” and an average price target of $28.95.
The stock has a 50-day moving average of $25.18 and a 200-day moving average of $21.01. The company’s market cap is $1.091 billion.
MDC Partners Inc (NASDAQ:MDCA) is a provider of marketing communications services to customers worldwide.
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