Benchmark Reiterates Buy Rating for Stagwell (NASDAQ:STGW)

Stagwell (NASDAQ:STGW)‘s stock had its “buy” rating restated by investment analysts at Benchmark in a report issued on Wednesday, Benzinga reports. They currently have a $8.50 price target on the stock. Benchmark’s price objective would indicate a potential upside of 37.54% from the stock’s previous close.

A number of other equities analysts have also commented on STGW. Rosenblatt Securities reissued a “buy” rating and issued a $8.00 price target on shares of Stagwell in a report on Monday, August 5th. The Goldman Sachs Group assumed coverage on shares of Stagwell in a report on Tuesday, June 25th. They issued a “neutral” rating and a $6.50 price target on the stock. Finally, Needham & Company LLC reissued a “buy” rating and issued a $7.50 price target on shares of Stagwell in a report on Monday. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $8.10.

Stagwell Stock Performance

NASDAQ STGW opened at $6.18 on Wednesday. Stagwell has a 1 year low of $3.83 and a 1 year high of $7.50. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market capitalization of $1.66 billion, a PE ratio of -206.00 and a beta of 1.34. The company’s 50 day simple moving average is $6.96 and its two-hundred day simple moving average is $6.71.

Stagwell (NASDAQ:STGW) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). The company 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%. Stagwell’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.12 EPS. Analysts predict that Stagwell will post 0.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Stagwell

Institutional investors and hedge funds have recently made changes to their positions in the business. Quarry LP bought a new position in shares of Stagwell during the 2nd quarter valued at $29,000. Hsbc Holdings PLC boosted its position in Stagwell by 25.1% during the 2nd quarter. Hsbc Holdings PLC now owns 16,757 shares of the company’s stock valued at $114,000 after buying an additional 3,360 shares during the period. SG Americas Securities LLC purchased a new stake in Stagwell during the 3rd quarter valued at $153,000. Concurrent Investment Advisors LLC boosted its position in Stagwell by 44.4% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 28,875 shares of the company’s stock valued at $197,000 after buying an additional 8,875 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in Stagwell by 16.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 35,681 shares of the company’s stock valued at $243,000 after buying an additional 4,961 shares during the period. 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.