Jefferies Group Equities Analysts Lift Earnings Estimates for MDC Partners Inc. (MDCA)
MDC Partners Inc. (NASDAQ:MDCA) – Equities researchers at Jefferies Group increased their Q3 2017 earnings per share estimates for shares of MDC Partners in a report released on Tuesday. Jefferies Group analyst J. Janedis now expects that the business services provider will earn $0.19 per share for the quarter, up from their previous forecast of $0.12. Jefferies Group currently has a “Buy” rating on the stock. Jefferies Group also issued estimates for MDC Partners’ FY2017 earnings at $0.37 EPS, Q3 2018 earnings at $0.17 EPS and FY2018 earnings at $0.57 EPS.
MDC Partners (NASDAQ:MDCA) last posted its earnings results on Monday, August 7th. The business services provider reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.02). MDC Partners had a negative net margin of 1.70% and a negative return on equity of 5.72%. The company had revenue of $390.53 million during the quarter, compared to analysts’ expectations of $368.74 million. During the same quarter last year, the firm earned $0.02 EPS. MDC Partners’s revenue for the quarter was up 15.9% on a year-over-year basis.
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Other research analysts also recently issued research reports about the company. Royal Bank Of Canada reiterated a “hold” rating on shares of MDC Partners in a report on Thursday, July 6th. BMO Capital Markets reiterated a “buy” rating and issued a $15.00 price objective on shares of MDC Partners in a report on Wednesday, September 13th. BidaskClub upgraded MDC Partners from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 19th. Finally, Zacks Investment Research downgraded MDC Partners from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. MDC Partners has a consensus rating of “Hold” and a consensus price target of $12.14.
Shares of MDC Partners (NASDAQ:MDCA) opened at 11.25 on Thursday. The stock’s market cap is $657.45 million. The stock’s 50 day moving average price is $10.23 and its 200-day moving average price is $9.45. MDC Partners has a 52 week low of $2.75 and a 52 week high of $11.45.
Several hedge funds have recently made changes to their positions in MDCA. Nationwide Fund Advisors grew its stake in shares of MDC Partners by 3.5% in the 1st quarter. Nationwide Fund Advisors now owns 32,684 shares of the business services provider’s stock valued at $307,000 after purchasing an additional 1,093 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of MDC Partners by 8.5% in the 1st quarter. Bank of New York Mellon Corp now owns 317,237 shares of the business services provider’s stock valued at $2,983,000 after purchasing an additional 24,894 shares during the last quarter. Swiss National Bank grew its stake in shares of MDC Partners by 12.4% in the 1st quarter. Swiss National Bank now owns 88,000 shares of the business services provider’s stock valued at $827,000 after purchasing an additional 9,700 shares during the last quarter. Karp Capital Management Corp purchased a new position in shares of MDC Partners in the 1st quarter valued at approximately $101,000. Finally, Stifel Financial Corp grew its stake in shares of MDC Partners by 3.8% in the 1st quarter. Stifel Financial Corp now owns 13,895 shares of the business services provider’s stock valued at $131,000 after purchasing an additional 515 shares during the last quarter. Institutional investors own 83.69% of the company’s stock.
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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