Benchmark Reaffirms “Buy” Rating for Stagwell (NASDAQ:STGW)

Benchmark restated their buy rating on shares of Stagwell (NASDAQ:STGW) in a report published on Wednesday morning, Benzinga reports. They currently have a $8.50 target price on the stock.

Several other analysts also recently weighed in on the company. Needham & Company LLC restated a “buy” rating and set a $7.50 price objective on shares of Stagwell in a research report on Monday, October 21st. The Goldman Sachs Group assumed coverage on Stagwell in a research note on Tuesday, June 25th. They issued a “neutral” rating and a $6.50 price target for the company. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $8.00 target price on shares of Stagwell in a research note on Monday, August 5th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $8.10.

Stagwell Stock Down 0.5 %

NASDAQ:STGW opened at $6.15 on Wednesday. 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 capitalization of $1.62 billion, a price-to-earnings ratio of -307.50 and a beta of 1.34. Stagwell has a twelve month low of $3.83 and a twelve month high of $7.50. The stock’s 50 day moving average price is $6.96 and its two-hundred day moving average price is $6.71.

Stagwell (NASDAQ:STGW) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). The firm had revenue of $671.20 million during the quarter, compared to analyst estimates of $666.61 million. Stagwell had a negative net margin of 0.09% and a positive return on equity of 7.06%. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.12 earnings per share. Equities research analysts expect that Stagwell will post 0.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Stagwell

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Stagwell by 8.4% in the 1st quarter. Vanguard Group Inc. now owns 5,836,976 shares of the company’s stock worth $36,306,000 after buying an additional 452,874 shares during the period. CCG Wealth Management LLC purchased a new stake in Stagwell during the 2nd quarter valued at $3,008,000. Harbor Capital Advisors Inc. boosted its stake in shares of Stagwell by 270.0% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 556,430 shares of the company’s stock worth $3,795,000 after buying an additional 406,031 shares during the last quarter. Lighthouse Investment Partners LLC purchased a new position in shares of Stagwell in the 2nd quarter worth $2,316,000. Finally, Huber Capital Management LLC purchased a new position in shares of Stagwell in the 1st quarter worth $1,410,000. Institutional investors own 35.61% 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.