Stagwell (NASDAQ:STGW) Issues FY24 Earnings Guidance

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Benchmark lifted their price objective on shares of Stagwell from $6.50 to $9.00 and gave the company a buy rating in a research note on Thursday. TheStreet upgraded Stagwell from a d+ rating to a c- rating in a research note on Wednesday, March 6th. Needham & Company LLC restated a buy rating and issued a $7.50 target price on shares of Stagwell in a research note on Thursday. Finally, B. Riley upped their price target on Stagwell from $9.00 to $10.00 and gave the company a buy rating in a research report on Thursday. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Stagwell presently has an average rating of Moderate Buy and an average target price of $8.06.

Stagwell Stock Performance

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

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

Insider Buying and Selling

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

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.