MDC Partners Inc. (MDCA) Earns Hold Rating from Wells Fargo & Company
MDC Partners Inc. (NASDAQ:MDCA)‘s stock had its “hold” rating reiterated by equities research analysts at Wells Fargo & Company in a research report issued to clients and investors on Tuesday. They presently have a $12.00 target price on the business services provider’s stock. Wells Fargo & Company’s price target suggests a potential upside of 8.11% from the company’s current price.
The analysts wrote, “We believe MDC remains committed to delivering and note that mgmt. reiterated expectations to pay down DAC by $70MM-$80MM in FY’18. USD 2016A 2017E 2018E EPS Curr. Prior Curr. Prior Q1 (Mar.) ($0.47) ($0.21) A NC $0.04 NC Q2 (June) 0.02 0.14 A NC 0.09 0.12 Q3 (Sep.) (0.62) 0.24 A 0.10 0.17 0.20 Q4 (Dec.) 0.15 0.21 0.24 0.37 0.36 FY ($0.92) $0.37 0.27 $0.68 0.71 CY ($0.92) $0.37 $0.68 FY P/EPS NM 30.1x 16.4x Rev.(MM) $1,386 $1,519 $1,592 Source: Company Data, Wells Fargo Securities, LLC estimates, and Reuters NA = Not Available, NC = No Change, NE = No Estimate, NM = Not Meaningful V = Volatile, = Company is on the Priority Stock List Ticker MDCA Price Target/Prior: $12.00/$11.00 Price (10/30/2017) $11.15 52-Week Range: $2-13 Shares Outstanding: (MM) 57.9 Market Cap.: (MM) $645.6 S&P 500: 2,367.34 Avg. Daily Vol.: 373,822 Dividend/Yield: $0.00/0.0% LT Debt: (MM) $930.9 LT Debt/Total Cap.: NM ROE: NM 3-5 Yr. Est.””
Several other brokerages also recently commented on MDCA. BMO Capital Markets reissued a “buy” rating and issued a $15.00 price objective on shares of MDC Partners in a research note on Wednesday, October 18th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $12.00 price objective (up from $10.00) on shares of MDC Partners in a research note on Tuesday, August 8th. BidaskClub raised MDC Partners from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 19th. Zacks Investment Research raised MDC Partners from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Tuesday, July 18th. Finally, Jefferies Group LLC reissued a “buy” rating on shares of MDC Partners in a research note on Thursday, September 21st. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $12.13.
MDC Partners (MDCA) opened at 11.15 on Tuesday. The firm has a 50-day moving average price of $10.83 and a 200-day moving average price of $9.68. The company’s market capitalization is $651.61 million. MDC Partners has a 1-year low of $2.75 and a 1-year high of $12.26.
MDC Partners (NASDAQ:MDCA) last issued its quarterly earnings data on Monday, October 30th. The business services provider reported $0.24 EPS for the quarter, topping the consensus estimate of $0.12 by $0.12. The firm had revenue of $375.80 million during the quarter, compared to the consensus estimate of $372.08 million. MDC Partners had a negative return on equity of 5.72% and a negative net margin of 1.70%. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.62) earnings per share. On average, analysts forecast that MDC Partners will post $0.34 EPS for the current fiscal year.
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Hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in shares of MDC Partners by 24.7% in the first quarter. Geode Capital Management LLC now owns 119,017 shares of the business services provider’s stock valued at $1,118,000 after acquiring an additional 23,545 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of MDC Partners by 4.8% in the first quarter. Vanguard Group Inc. now owns 1,397,114 shares of the business services provider’s stock valued at $13,133,000 after acquiring an additional 63,952 shares in the last quarter. Stifel Financial Corp grew its holdings in shares of MDC Partners by 3.8% in the first quarter. Stifel Financial Corp now owns 13,895 shares of the business services provider’s stock valued at $131,000 after acquiring an additional 515 shares in the last quarter. Taylor Asset Management Inc. grew its holdings in shares of MDC Partners by 1.2% in the second quarter. Taylor Asset Management Inc. now owns 1,331,965 shares of the business services provider’s stock valued at $13,186,000 after acquiring an additional 16,304 shares in the last quarter. Finally, American Century Companies Inc. bought a new position in shares of MDC Partners in the second quarter valued at approximately $1,199,000. 83.72% 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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