Stagwell (NASDAQ:STGW) Issues FY24 Earnings Guidance

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on STGW. Needham & Company LLC restated a "buy" rating and issued a $7.50 price objective on shares of Stagwell in a report on Monday, October 21st. Rosenblatt Securities reiterated a "buy" rating and issued a $8.00 target price on shares of Stagwell in a report on Monday, August 5th. Finally, Benchmark reiterated a "buy" rating and issued a $8.50 price objective on shares of Stagwell in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $8.10.

Stagwell Stock Up 1.5 %

Stagwell stock traded up $0.11 during midday trading on Thursday, reaching $7.23. The company's stock had a trading volume of 684,816 shares, compared to its average volume of 522,732. The business has a 50-day simple moving average of $6.88 and a 200-day simple moving average of $6.78. The company has a market cap of $1.90 billion, a P/E ratio of -340.00 and a beta of 1.35. Stagwell has a fifty-two week low of $4.25 and a fifty-two week 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.

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.