The Royal Bank Of Canada Begins Coverage on MDC Partners Inc. (MDCA)

The Royal Bank Of Canada Begins Coverage on MDC Partners Inc. (MDCA)

Equities researchers at Royal Bank Of Canada began coverage on shares of MDC Partners Inc. (NASDAQ:MDCA) in a research report issued on Friday. The firm set a “sector perform” rating and a $12.00 price target on the stock. Royal Bank Of Canada’s target price would indicate a potential upside of 9.09% from the company’s previous close.

Several other research firms have also commented on MDCA. Albert Fried & Company reaffirmed a “buy” rating and issued a $23.00 price target on shares of MDC Partners in a report on Sunday, July 3rd. Wedbush reissued an “outperform” rating and set a $20.00 target price on shares of MDC Partners in a research note on Friday, September 30th. Zacks Investment Research raised shares of MDC Partners from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Thursday, July 28th. Jefferies Group reissued a “hold” rating on shares of MDC Partners in a research note on Monday, August 29th. Finally, RBC Capital Markets assumed coverage on shares of MDC Partners in a research note on Thursday. They set a “sector perform” rating on the stock. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $20.89.

MDC Partners (NASDAQ:MDCA) opened at 11.00 on Friday. MDC Partners has a 52-week low of $10.32 and a 52-week high of $23.90. The company’s 50-day moving average price is $11.88 and its 200 day moving average price is $16.88. The stock’s market capitalization is $588.34 million.

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MDC Partners (NASDAQ:MDCA) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.15 by $0.13. The business had revenue of $337.05 million for the quarter, compared to the consensus estimate of $346.02 million. During the same quarter last year, the firm posted $0.59 earnings per share. The business’s revenue was up .1% compared to the same quarter last year. On average, equities research analysts predict that MDC Partners will post $0.89 earnings per share for the current fiscal year.

In other MDC Partners news, CEO Scott L. Kauffman acquired 5,000 shares of the business’s stock in a transaction on Monday, August 29th. The stock was bought at an average price of $12.19 per share, for a total transaction of $60,950.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.00% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Quantbot Technologies LP acquired a new stake in MDC Partners during the second quarter worth approximately $112,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in MDC Partners during the second quarter worth approximately $114,000. Independent Portfolio Consultants Inc. increased its stake in MDC Partners by 23.3% in the third quarter. Independent Portfolio Consultants Inc. now owns 11,360 shares of the company’s stock worth $122,000 after buying an additional 2,145 shares during the last quarter. Legal & General Group Plc increased its stake in MDC Partners by 16.2% in the second quarter. Legal & General Group Plc now owns 6,875 shares of the company’s stock worth $124,000 after buying an additional 959 shares during the last quarter. Finally, US Bancorp DE increased its stake in MDC Partners by 16.6% in the second quarter. US Bancorp DE now owns 6,848 shares of the company’s stock worth $125,000 after buying an additional 973 shares during the last quarter.

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