MDC Partners Inc. (MDCA) Announces Quarterly Earnings Results

MDC Partners Inc. (NASDAQ:MDCA) released its earnings results on Monday, August 7th. The business services provider reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.16 by $0.02, Briefing.com reports. MDC Partners had a negative net margin of 1.70% and a negative return on equity of 5.72%. The firm had revenue of $390.53 million during the quarter, compared to the consensus estimate of $368.74 million. During the same period in the prior year, the business posted $0.02 earnings per share. MDC Partners’s quarterly revenue was up 15.9% compared to the same quarter last year.

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Shares of MDC Partners (MDCA) traded down 0.49% during mid-day trading on Friday, reaching $10.15. The company had a trading volume of 349,231 shares. The firm’s market capitalization is $593.17 million. MDC Partners has a 12-month low of $2.75 and a 12-month high of $13.37. The stock has a 50 day moving average price of $10.13 and a 200 day moving average price of $8.92.

MDCA has been the subject of several analyst reports. Zacks Investment Research cut shares of MDC Partners from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. BidaskClub raised shares of MDC Partners from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 19th. Jefferies Group LLC lifted their price objective on shares of MDC Partners to $12.00 and gave the stock a “buy” rating in a research report on Monday, June 5th. Royal Bank Of Canada reissued a “hold” rating and set a $10.00 target price on shares of MDC Partners in a report on Monday, May 1st. Finally, Wells Fargo & Company reaffirmed a “hold” rating on shares of MDC Partners in a research note on Friday, April 28th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. MDC Partners currently has a consensus rating of “Hold” and an average target price of $12.14.

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A number of institutional investors have recently bought and sold shares of the company. 1st Global Advisors Inc. bought a new position in MDC Partners during the first quarter valued at about $119,000. Parkwood LLC bought a new position in MDC Partners during the first quarter valued at about $126,000. Karp Capital Management Corp acquired a new stake in shares of MDC Partners during the first quarter worth $101,000. Swiss National Bank raised its stake in shares of MDC Partners by 12.4% in the first quarter. Swiss National Bank now owns 88,000 shares of the business services provider’s stock worth $827,000 after buying an additional 9,700 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of MDC Partners by 8.5% in the first quarter. Bank of New York Mellon Corp now owns 317,237 shares of the business services provider’s stock worth $2,983,000 after buying an additional 24,894 shares in the last quarter. Institutional investors and hedge funds own 86.09% of the company’s stock.

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.