MDC Partners Cut to “Neutral” at Zacks (MDCA)
MDC Partners (NASDAQ:MDCA) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a report issued on Friday. They currently have a $23.90 target price on the stock. Zacks‘s price target suggests a potential upside of 9.28% from the stock’s previous close.
Shares of MDC Partners (NASDAQ:MDCA) remained flat at $21.87 during trading on Friday. The stock had a trading volume of 51,583 shares. MDC Partners has a 1-year low of $14.7733 and a 1-year high of $26.62. The stock’s 50-day moving average is $20.89 and its 200-day moving average is $22.13. The company’s market cap is $1.102 billion.
MDC Partners (NASDAQ:MDCA) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.18. The company had revenue of $317.72 million for the quarter, compared to the consensus estimate of $311.13 million. During the same quarter in the previous year, the company posted $0.30 earnings per share. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. Analysts expect that MDC Partners will post $0.58 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at FBR Capital Markets initiated coverage on shares of MDC Partners in a research note on Thursday, August 21st. They set an “outperform” rating and a $29.00 price target on the stock. Separately, analysts at Evercore Partners initiated coverage on shares of MDC Partners in a research note on Monday, July 7th. They set an “overweight” rating and a $27.00 price target on the stock. Finally, analysts at Jefferies Group initiated coverage on shares of MDC Partners in a research note on Wednesday, June 25th. They set a “buy” rating on the stock. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. MDC Partners presently has a consensus rating of “Buy” and a consensus target price of $29.48.
MDC Partners Inc (NASDAQ:MDCA) is a provider of marketing communications services to customers worldwide.
To view Zacks’ full report, visit Zacks’ official website.
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