MDC Partners Inc. (NASDAQ:MDCA) – Equities researchers at Jefferies Group boosted their Q3 2017 earnings estimates for MDC Partners in a research report issued to clients and investors on Tuesday. Jefferies Group analyst J. Janedis now forecasts that the business services provider will post earnings of $0.19 per share for the quarter, up from their previous estimate of $0.12. Jefferies Group 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.
MDCA has been the topic of several other reports. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $12.00 target price (up from $10.00) on shares of MDC Partners in a research note on Tuesday, August 8th. BidaskClub downgraded shares of MDC Partners from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 3rd. BMO Capital Markets reissued a “buy” rating and issued a $15.00 price objective on shares of MDC Partners in a research report on Wednesday, September 13th. Finally, Zacks Investment Research downgraded shares of MDC Partners from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $12.14.
MDC Partners (NASDAQ:MDCA) last released its quarterly earnings data on Monday, August 7th. The business services provider reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ 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 business had revenue of $390.53 million for the quarter, compared to the consensus estimate of $368.74 million. During the same quarter in the prior year, the business posted $0.02 earnings per share. MDC Partners’s revenue for the quarter was up 15.9% on a year-over-year basis.
Several large investors have recently made changes to their positions in MDCA. Nationwide Fund Advisors increased its position 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 increased its position 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 increased its position 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 stake in shares of MDC Partners in the 1st quarter valued at approximately $101,000. Finally, Stifel Financial Corp increased its position 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. 83.69% of the stock is currently owned by 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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