Stagwell (NASDAQ:STGW) Releases FY 2024 Earnings Guidance

Stagwell (NASDAQ:STGW) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 0.750-0.880 for the period, compared to the consensus estimate of 0.730. The company issued revenue guidance of -. Stagwell also updated its FY24 guidance to $0.75-$0.88 EPS.

Wall Street Analysts Forecast Growth

STGW has been the subject of several recent research reports. Needham & Company LLC restated a buy rating and set a $7.50 target price on shares of Stagwell in a report on Thursday. B. Riley increased their price target on Stagwell from $9.00 to $10.00 and gave the stock a buy rating in a research note on Thursday. TheStreet raised Stagwell from a d+ rating to a c- rating in a research report on Wednesday, March 6th. Finally, Benchmark increased their target price on Stagwell from $6.50 to $9.00 and gave the stock a buy rating in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $8.06.

Stagwell Trading Down 3.2 %

Shares of Stagwell stock traded down $0.23 during trading hours on Friday, hitting $6.90. 692,394 shares of the company’s stock traded hands, compared to its average volume of 639,891. The stock has a 50 day simple moving average of $5.83 and a 200-day simple moving average of $5.79. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 1.39. Stagwell has a twelve month low of $3.83 and a twelve month high of $8.59.

Stagwell (NASDAQ:STGW) last announced its earnings results on Tuesday, February 27th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.13). The business had revenue of $654.90 million for the quarter, compared to analyst estimates of $683.12 million. Stagwell had a negative net margin of 0.16% and a positive return on equity of 7.35%. The firm’s revenue was down 7.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.22 earnings per share. As a group, research analysts predict that Stagwell will post 0.75 EPS for the current fiscal year.

Insider Activity

In other news, CEO Mark Jeffery Penn purchased 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was acquired at an average cost of $5.20 per share, for a total transaction of $52,000.00. Following the completion of the purchase, the chief executive officer now owns 2,480,469 shares of the company’s stock, valued at $12,898,438.80. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Mark Jeffery Penn purchased 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was acquired at an average cost of $5.20 per share, for a total transaction of $52,000.00. Following the completion of the purchase, the chief executive officer now owns 2,480,469 shares of the company’s stock, valued at $12,898,438.80. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Wade Oosterman purchased 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was purchased at an average price of $5.04 per share, with a total value of $25,200.00. Following the completion of the purchase, the director now directly owns 128,204 shares of the company’s stock, valued at approximately $646,148.16. The disclosure for this purchase can be found here. Insiders own 4.90% of the company’s stock.

About Stagwell

Stagwell Inc provides digital transformation, performance media and data, consumer insights and strategy, and creativity and communications services. The company operates through three segments: Integrated Agencies Network, Brand Performance Network, and Communications Network. It designs and builds digital platforms and experiences that support the delivery of content, commerce, service, and sales; creates websites, mobile applications, back-end systems, content and data management systems, and other digital environments; designs and implements technology and data strategies; and develops software and related technology products, including artificial intelligence (AI)-enabled communications, research, and media technology, cookie-less data platforms for advance targeting and activation, software tools for e-commerce applications, specialty media solutions in the augmented reality space, and text messaging applications for consumer engagement.