Stagwell (NASDAQ:STGW) Updates FY24 Earnings Guidance

Stagwell (NASDAQ:STGW) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $0.75-$0.88 for the period, compared to the consensus EPS estimate of $0.78. Stagwell also updated its FY 2024 guidance to 0.750-0.880 EPS.

Stagwell Trading Down 3.2 %

Shares of NASDAQ:STGW opened at $6.90 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 1.39. The firm’s 50 day moving average price is $5.83 and its 200-day moving average price is $5.79. Stagwell has a twelve month low of $3.83 and a twelve month high of $8.59.

Stagwell (NASDAQ:STGW) last released its quarterly 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 during the quarter, compared to the consensus estimate of $683.12 million. Stagwell had a positive return on equity of 7.35% and a negative net margin of 0.16%. The firm’s revenue was down 7.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.22 earnings per share. Research analysts predict that Stagwell will post 0.75 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on STGW. Needham & Company LLC reiterated a buy rating and set a $7.50 target price on shares of Stagwell in a research report on Thursday. B. Riley lifted their price objective on Stagwell from $9.00 to $10.00 and gave the company a buy rating in a research report on Thursday. TheStreet raised shares of Stagwell from a d+ rating to a c- rating in a report on Wednesday, March 6th. Finally, Benchmark raised their target price on shares of Stagwell from $6.50 to $9.00 and gave the stock a buy rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Stagwell presently has an average rating of Moderate Buy and a consensus target price of $8.06.

Insider Activity

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

Stagwell Company Profile

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.