Intrinsic value of MDC Partners Cl A - MDCA

Previous Close

$2.66

  Intrinsic Value

$5.82

stock screener

  Rating & Target

str. buy

+119%

Previous close

$2.66

 
Intrinsic value

$5.82

 
Up/down potential

+119%

 
Rating

str. buy

We calculate the intrinsic value of MDCA stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.2

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  1,544
  1,580
  1,620
  1,666
  1,716
  1,772
  1,832
  1,897
  1,968
  2,043
  2,124
  2,210
  2,302
  2,399
  2,503
  2,613
  2,729
  2,852
  2,981
  3,118
  3,263
  3,415
  3,576
  3,745
  3,924
  4,111
  4,309
  4,517
  4,736
  4,966
Variable operating expenses, $m
  534
  544
  556
  569
  583
  599
  617
  635
  656
  677
  610
  635
  661
  689
  719
  750
  783
  819
  856
  895
  937
  981
  1,027
  1,075
  1,127
  1,180
  1,237
  1,297
  1,360
  1,426
Fixed operating expenses, $m
  894
  914
  934
  955
  976
  997
  1,019
  1,041
  1,064
  1,088
  1,112
  1,136
  1,161
  1,187
  1,213
  1,239
  1,267
  1,295
  1,323
  1,352
  1,382
  1,412
  1,443
  1,475
  1,508
  1,541
  1,575
  1,609
  1,645
  1,681
Total operating expenses, $m
  1,428
  1,458
  1,490
  1,524
  1,559
  1,596
  1,636
  1,676
  1,720
  1,765
  1,722
  1,771
  1,822
  1,876
  1,932
  1,989
  2,050
  2,114
  2,179
  2,247
  2,319
  2,393
  2,470
  2,550
  2,635
  2,721
  2,812
  2,906
  3,005
  3,107
Operating income, $m
  116
  121
  130
  142
  157
  175
  196
  221
  248
  278
  402
  439
  480
  524
  572
  623
  679
  738
  802
  871
  944
  1,022
  1,106
  1,195
  1,289
  1,390
  1,497
  1,611
  1,731
  1,859
EBITDA, $m
  230
  237
  246
  259
  275
  293
  315
  341
  369
  401
  435
  474
  516
  561
  610
  664
  721
  783
  849
  919
  995
  1,075
  1,161
  1,253
  1,350
  1,454
  1,564
  1,681
  1,805
  1,936
Interest expense (income), $m
  65
  64
  38
  41
  44
  47
  51
  55
  59
  64
  69
  74
  80
  87
  93
  100
  108
  116
  124
  133
  143
  153
  163
  174
  186
  198
  211
  225
  239
  254
  270
Earnings before tax, $m
  52
  83
  90
  99
  110
  125
  142
  161
  184
  209
  328
  359
  393
  431
  471
  515
  563
  614
  669
  728
  791
  859
  932
  1,009
  1,091
  1,179
  1,272
  1,371
  1,477
  1,589
Tax expense, $m
  14
  22
  24
  27
  30
  34
  38
  44
  50
  56
  89
  97
  106
  116
  127
  139
  152
  166
  181
  197
  214
  232
  252
  272
  295
  318
  343
  370
  399
  429
Net income, $m
  38
  61
  65
  72
  80
  91
  103
  118
  134
  153
  239
  262
  287
  314
  344
  376
  411
  448
  488
  532
  578
  627
  680
  736
  797
  861
  929
  1,001
  1,078
  1,160

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  1,733
  1,773
  1,818
  1,870
  1,926
  1,988
  2,056
  2,129
  2,208
  2,293
  2,384
  2,481
  2,584
  2,693
  2,809
  2,932
  3,063
  3,200
  3,346
  3,500
  3,662
  3,833
  4,013
  4,203
  4,404
  4,614
  4,836
  5,069
  5,315
  5,573
Adjusted assets (=assets-cash), $m
  1,733
  1,773
  1,818
  1,870
  1,926
  1,988
  2,056
  2,129
  2,208
  2,293
  2,384
  2,481
  2,584
  2,693
  2,809
  2,932
  3,063
  3,200
  3,346
  3,500
  3,662
  3,833
  4,013
  4,203
  4,404
  4,614
  4,836
  5,069
  5,315
  5,573
Revenue / Adjusted assets
  0.891
  0.891
  0.891
  0.891
  0.891
  0.891
  0.891
  0.891
  0.891
  0.891
  0.891
  0.891
  0.891
  0.891
  0.891
  0.891
  0.891
  0.891
  0.891
  0.891
  0.891
  0.891
  0.891
  0.891
  0.891
  0.891
  0.891
  0.891
  0.891
  0.891
Average production assets, $m
  554
  567
  582
  598
  616
  636
  658
  681
  706
  733
  763
  793
  826
  861
  899
  938
  980
  1,024
  1,070
  1,119
  1,171
  1,226
  1,284
  1,345
  1,409
  1,476
  1,547
  1,622
  1,700
  1,783
Working capital, $m
  -289
  -295
  -303
  -311
  -321
  -331
  -343
  -355
  -368
  -382
  -397
  -413
  -430
  -449
  -468
  -489
  -510
  -533
  -558
  -583
  -610
  -639
  -669
  -700
  -734
  -769
  -806
  -845
  -886
  -929
Total debt, $m
  530
  566
  607
  653
  704
  760
  821
  887
  958
  1,034
  1,116
  1,203
  1,296
  1,394
  1,499
  1,610
  1,727
  1,851
  1,982
  2,120
  2,266
  2,420
  2,583
  2,754
  2,934
  3,123
  3,323
  3,533
  3,754
  3,986
Total liabilities, $m
  1,560
  1,596
  1,637
  1,683
  1,734
  1,790
  1,850
  1,916
  1,988
  2,064
  2,145
  2,232
  2,325
  2,424
  2,528
  2,639
  2,756
  2,880
  3,011
  3,150
  3,296
  3,450
  3,612
  3,783
  3,963
  4,153
  4,352
  4,562
  4,783
  5,016
Total equity, $m
  173
  177
  182
  187
  193
  199
  206
  213
  221
  229
  238
  248
  258
  269
  281
  293
  306
  320
  335
  350
  366
  383
  401
  420
  440
  461
  484
  507
  531
  557
Total liabilities and equity, $m
  1,733
  1,773
  1,819
  1,870
  1,927
  1,989
  2,056
  2,129
  2,209
  2,293
  2,383
  2,480
  2,583
  2,693
  2,809
  2,932
  3,062
  3,200
  3,346
  3,500
  3,662
  3,833
  4,013
  4,203
  4,403
  4,614
  4,836
  5,069
  5,314
  5,573
Debt-to-equity ratio
  3.060
  3.190
  3.340
  3.490
  3.660
  3.820
  3.990
  4.170
  4.340
  4.510
  4.680
  4.850
  5.020
  5.180
  5.340
  5.490
  5.640
  5.780
  5.920
  6.060
  6.190
  6.310
  6.440
  6.550
  6.660
  6.770
  6.870
  6.970
  7.060
  7.150
Adjusted equity ratio
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  38
  61
  65
  72
  80
  91
  103
  118
  134
  153
  239
  262
  287
  314
  344
  376
  411
  448
  488
  532
  578
  627
  680
  736
  797
  861
  929
  1,001
  1,078
  1,160
Depreciation, amort., depletion, $m
  115
  115
  116
  117
  117
  118
  119
  120
  121
  122
  33
  34
  36
  37
  39
  41
  42
  44
  46
  48
  51
  53
  56
  58
  61
  64
  67
  70
  74
  77
Funds from operations, $m
  153
  176
  181
  188
  198
  209
  223
  238
  255
  275
  272
  297
  323
  352
  383
  417
  453
  492
  535
  580
  628
  680
  736
  795
  858
  924
  996
  1,071
  1,152
  1,237
Change in working capital, $m
  -6
  -7
  -8
  -9
  -9
  -10
  -11
  -12
  -13
  -14
  -15
  -16
  -17
  -18
  -19
  -21
  -22
  -23
  -24
  -26
  -27
  -29
  -30
  -32
  -33
  -35
  -37
  -39
  -41
  -43
Cash from operations, $m
  158
  183
  189
  197
  207
  219
  234
  250
  269
  289
  288
  313
  340
  370
  402
  437
  475
  515
  559
  606
  656
  709
  766
  826
  891
  960
  1,033
  1,110
  1,193
  1,280
Maintenance CAPEX, $m
  -24
  -24
  -25
  -25
  -26
  -27
  -28
  -28
  -29
  -31
  -32
  -33
  -34
  -36
  -37
  -39
  -41
  -42
  -44
  -46
  -48
  -51
  -53
  -56
  -58
  -61
  -64
  -67
  -70
  -74
New CAPEX, $m
  -11
  -13
  -15
  -16
  -18
  -20
  -22
  -23
  -25
  -27
  -29
  -31
  -33
  -35
  -37
  -39
  -42
  -44
  -47
  -49
  -52
  -55
  -58
  -61
  -64
  -67
  -71
  -75
  -79
  -83
Cash from investing activities, $m
  -35
  -37
  -40
  -41
  -44
  -47
  -50
  -51
  -54
  -58
  -61
  -64
  -67
  -71
  -74
  -78
  -83
  -86
  -91
  -95
  -100
  -106
  -111
  -117
  -122
  -128
  -135
  -142
  -149
  -157
Free cash flow, $m
  124
  146
  150
  155
  163
  173
  185
  198
  214
  232
  227
  249
  273
  299
  328
  359
  393
  429
  468
  510
  555
  603
  655
  710
  769
  831
  898
  969
  1,044
  1,124
Issuance/(repayment) of debt, $m
  -353
  36
  41
  46
  51
  56
  61
  66
  71
  76
  82
  87
  93
  99
  105
  111
  117
  124
  131
  138
  146
  154
  162
  171
  180
  190
  200
  210
  221
  232
Issuance/(repurchase) of shares, $m
  349
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  -4
  36
  41
  46
  51
  56
  61
  66
  71
  76
  82
  87
  93
  99
  105
  111
  117
  124
  131
  138
  146
  154
  162
  171
  180
  190
  200
  210
  221
  232
Total cash flow (excl. dividends), $m
  120
  182
  191
  201
  214
  229
  246
  264
  285
  308
  308
  336
  365
  398
  432
  470
  510
  553
  599
  648
  701
  757
  817
  881
  949
  1,021
  1,097
  1,179
  1,265
  1,356
Retained Cash Flow (-), $m
  -387
  -4
  -5
  -5
  -6
  -6
  -7
  -7
  -8
  -8
  -9
  -10
  -10
  -11
  -12
  -12
  -13
  -14
  -15
  -15
  -16
  -17
  -18
  -19
  -20
  -21
  -22
  -23
  -25
  -26
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  -267
  178
  186
  196
  209
  223
  239
  257
  277
  299
  299
  326
  355
  387
  421
  457
  497
  539
  585
  633
  685
  740
  799
  862
  929
  1,000
  1,075
  1,155
  1,240
  1,330
Discount rate, %
  13.80
  14.49
  15.21
  15.98
  16.77
  17.61
  18.49
  19.42
  20.39
  21.41
  22.48
  23.60
  24.78
  26.02
  27.32
  28.69
  30.12
  31.63
  33.21
  34.87
  36.62
  38.45
  40.37
  42.39
  44.51
  46.73
  49.07
  51.52
  54.10
  56.80
PV of cash for distribution, $m
  -235
  136
  122
  109
  96
  84
  73
  62
  52
  43
  32
  26
  20
  15
  11
  8
  6
  4
  3
  2
  1
  1
  0
  0
  0
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0

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. The All Other segment consists of the companies that provide the Company's specialist marketing offerings, such as direct marketing, sales promotion, market research, strategic communications, database and customer relationship management, data analytics and insights, corporate identity, and design and branding. The Reportable segment includes the operations of various companies, such as Allison & Partners, Anomaly, Crispin Porter + Bogusky, Doner, Forsman & Bodenfors, Hunter PR, kbs, MDC Media Partners and 72andSunny.

FINANCIAL RATIOS  of  MDC Partners Cl A (MDCA)

Valuation Ratios
P/E Ratio -2.9
Price to Sales 0.1
Price to Book -0.2
Price to Tangible Book
Price to Cash Flow 28.1
Price to Free Cash Flow -5.9
Growth Rates
Sales Growth Rate 4.5%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 20.8%
Cap. Spend. - 3 Yr. Gr. Rate 11.3%
Financial Strength
Quick Ratio NaN
Current Ratio 0.1
LT Debt to Equity -164.8%
Total Debt to Equity -164.8%
Interest Coverage 0
Management Effectiveness
Return On Assets 0.4%
Ret/ On Assets - 3 Yr. Avg. 0.5%
Return On Total Capital -18.1%
Ret/ On T. Cap. - 3 Yr. Avg. -13.8%
Return On Equity 8.5%
Return On Equity - 3 Yr. Avg. 7.3%
Asset Turnover 0.9
Profitability Ratios
Gross Margin 32.5%
Gross Margin - 3 Yr. Avg. 33.6%
EBITDA Margin 4.4%
EBITDA Margin - 3 Yr. Avg. 6.7%
Operating Margin 3.5%
Oper. Margin - 3 Yr. Avg. 5.4%
Pre-Tax Margin -3.6%
Pre-Tax Margin - 3 Yr. Avg. -1.2%
Net Profit Margin -3.5%
Net Profit Margin - 3 Yr. Avg. -2.7%
Effective Tax Rate 16%
Eff/ Tax Rate - 3 Yr. Avg. 20.2%
Payout Ratio -68.8%

MDCA stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the MDCA stock intrinsic value calculation we used $1513.779 million for the last fiscal year's total revenue generated by MDC Partners Cl A. The default revenue input number comes from 0001 income statement of MDC Partners Cl A. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our MDCA stock valuation model: a) initial revenue growth rate of 2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 13.8%, whose default value for MDCA is calculated based on our internal credit rating of MDC Partners Cl A, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of MDC Partners Cl A.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of MDCA stock the variable cost ratio is equal to 34.7%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $875 million in the base year in the intrinsic value calculation for MDCA stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 7.2% for MDC Partners Cl A.

Corporate tax rate of 27% is the nominal tax rate for MDC Partners Cl A. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the MDCA stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for MDCA are equal to 35.9%.

Life of production assets of 23.1 years is the average useful life of capital assets used in MDC Partners Cl A operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for MDCA is equal to -18.7%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $-213.543 million for MDC Partners Cl A - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 57.503 million for MDC Partners Cl A is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of MDC Partners Cl A at the current share price and the inputted number of shares is $0.2 billion.

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COMPANY NEWS

▶ DOJ Ends Investigation of Production Practices at Largest Ad Companies   [Nov-13-18 03:52PM  The Wall Street Journal]
▶ MDC Partners: 3Q Earnings Snapshot   [Oct-29-18 08:41AM  Associated Press]
▶ MDC Names Ryan Linder Global Chief Marketing Officer   [Oct-18-18 09:59AM  PR Newswire]
▶ Ad Company MDC Partners Exploring Strategic Options   [02:57PM  The Wall Street Journal]
▶ CEO of Embattled Advertising Company MDC Partners Steps Down   [Sep-12-18 05:27PM  The Wall Street Journal]
▶ Who Really Owns MDC Partners Inc (NASDAQ:MDCA)?   [Aug-23-18 12:55PM  Simply Wall St.]
▶ MDC Partners Grapples With Client Cutbacks in Second Quarter   [Aug-02-18 06:28PM  The Wall Street Journal]
▶ MDC Partners: 2Q Earnings Snapshot   [05:11PM  Associated Press]
▶ Ad Company MDC's Shares Tumble After Gloomy Earnings Report   [01:32PM  The Wall Street Journal]
▶ Why MDC Partners Shares Got Crushed Today   [12:47PM  Motley Fool]
▶ MDC Partners: 1Q Earnings Snapshot   [May-09-18 07:51PM  Associated Press]
▶ 5 Stocks Priced Under $10 That You Must Buy   [Apr-17-18 07:53AM  TheStreet.com]
▶ WPP CEO Sorrell leaves company, under investigation   [Apr-16-18 10:28AM  Yahoo Finance Video]
▶ Portland's Instrument acquired by MDC Partners   [Apr-02-18 02:18PM  American City Business Journals]
▶ MDC Partners posts 4Q profit   [Feb-22-18 04:27PM  Associated Press]
▶ New Strong Buy Stocks for December 4th   [Dec-04-17 09:42AM  Zacks]
▶ MDC Partners posts 3Q profit   [Oct-30-17 04:19PM  Associated Press]
▶ New Strong Buy Stocks for October 26th   [Oct-26-17 11:10AM  Zacks]
▶ New Strong Buy Stocks for October 20th   [Oct-20-17 10:56AM  Zacks]
▶ MDC Partners posts 2Q profit   [Aug-07-17 11:59PM  Associated Press]

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