Stagwell (NASDAQ:STGW) Releases FY 2024 Earnings Guidance

Stagwell (NASDAQ:STGW) issued an update on its FY 2024 earnings guidance on Wednesday morning. 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.

Stagwell Price Performance

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

Stagwell (NASDAQ:STGW) last announced its quarterly earnings data 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). Stagwell had a negative net margin of 0.16% and a positive return on equity of 7.35%. The business had revenue of $654.90 million during the quarter, compared to analyst estimates of $683.12 million. During the same quarter in the prior year, the company earned $0.22 earnings per share. The company’s quarterly revenue was down 7.5% on a year-over-year basis. As a group, equities analysts predict that Stagwell will post 0.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Benchmark increased their target price on shares of Stagwell from $6.50 to $9.00 and gave the stock a buy rating in a report on Thursday. Needham & Company LLC reiterated a buy rating and issued a $7.50 target price on shares of Stagwell in a report on Thursday. TheStreet upgraded shares of Stagwell from a d+ rating to a c- rating in a report on Wednesday, March 6th. Finally, B. Riley increased their target price on shares of Stagwell from $9.00 to $10.00 and gave the stock a buy rating in a report on Thursday. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Stagwell currently has a consensus rating of Moderate Buy and a consensus target price of $8.06.

Insider Transactions at Stagwell

In other Stagwell news, Director Wade Oosterman purchased 5,000 shares of the stock in a transaction on Wednesday, February 28th. The shares were 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 of the company’s stock, valued at $646,148.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Stagwell news, Director Wade Oosterman purchased 5,000 shares of the stock in a transaction on Wednesday, February 28th. The shares were 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 of the company’s stock, valued at $646,148.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Mark Jeffery Penn purchased 10,000 shares of the 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 completion of the purchase, the chief executive officer now directly 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 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.