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 Analyst Weigh In

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

Stagwell Price Performance

Shares of NASDAQ STGW traded down $0.23 during mid-day trading on Friday, reaching $6.90. 692,394 shares of the company’s stock were exchanged, compared to its average volume of 639,891. 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 business has a fifty day simple moving average of $5.83 and a 200 day simple moving average of $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 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.13). Stagwell had a positive return on equity of 7.35% and a negative net margin of 0.16%. The business had revenue of $654.90 million for the quarter, compared to analyst estimates of $683.12 million. During the same period in the prior year, the business earned $0.22 EPS. The company’s revenue for the quarter was down 7.5% compared to the same quarter last year. As a group, equities research analysts expect that Stagwell will post 0.75 EPS for the current fiscal year.

Insider Transactions at Stagwell

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

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.