Stagwell (NASDAQ:STGW) Earns "Buy" Rating from Benchmark

Stagwell (NASDAQ:STGW - Get Free Report)'s stock had its "buy" rating reiterated by equities researchers at Benchmark in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $8.50 price target on the stock. Benchmark's target price suggests a potential upside of 36.00% from the stock's previous close.

Other equities analysts have also issued research reports about the company. The Goldman Sachs Group started coverage on Stagwell in a research note on Tuesday, June 25th. They issued a "neutral" rating and a $6.50 price objective for the company. Needham & Company LLC reissued a "buy" rating and set a $7.50 price target on shares of Stagwell in a research note on Monday. Finally, Rosenblatt Securities reissued a "buy" rating and set a $8.00 price target on shares of Stagwell in a research note on Monday, August 5th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $8.10.

Stagwell Stock Performance

NASDAQ:STGW traded down $0.18 during mid-day trading on Wednesday, hitting $6.25. 361,788 shares of the company traded hands, compared to its average volume of 522,971. The stock's fifty day moving average price is $6.97 and its 200-day moving average price is $6.71. Stagwell has a one year low of $3.83 and a one year high of $7.50. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.95. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of -208.33 and a beta of 1.34.

Stagwell (NASDAQ:STGW - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.14 earnings per share for the quarter, missing analysts' consensus estimates of $0.16 by ($0.02). The business had revenue of $671.20 million during the quarter, compared to the consensus estimate of $666.61 million. Stagwell had a positive return on equity of 7.06% and a negative net margin of 0.09%. The business's revenue was up 7.6% on a year-over-year basis. During the same period last year, the company earned $0.12 EPS. Research analysts anticipate that Stagwell will post 0.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Stagwell

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in Stagwell during the second quarter valued at approximately $29,000. Hsbc Holdings PLC raised its position in Stagwell by 25.1% during the second quarter. Hsbc Holdings PLC now owns 16,757 shares of the company's stock valued at $114,000 after purchasing an additional 3,360 shares during the period. SG Americas Securities LLC purchased a new stake in Stagwell during the third quarter valued at approximately $153,000. Concurrent Investment Advisors LLC raised its position in Stagwell by 44.4% during the second quarter. Concurrent Investment Advisors LLC now owns 28,875 shares of the company's stock valued at $197,000 after purchasing an additional 8,875 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in Stagwell by 16.1% during the second quarter. The Manufacturers Life Insurance Company now owns 35,681 shares of the company's stock valued at $243,000 after purchasing an additional 4,961 shares during the period. 35.61% of the stock is owned by institutional investors.

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.