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Stagwell Inc Down 17.45% To $5.80 After Earnings Miss

Tuesday, February 27, 2024 09:54 AM | InvestorsObserver Analysts

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Stagwell Inc Down 17.45% To $5.80 After Earnings Miss

Stagwell Inc (STGW) missed earnings estimates for Q4 2023 this morning.

Stagwell Inc's earnings came in at an EPS of $0.12 per share, 56% lower than estimates for an EPS of $0.27 per share. The firm's earnings are down 45% since reporting $0.22 per share in the same period a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Revenues were downbeat at $654.9 million. That represents a 7.52% decrease in revenues from the year-ago report and is 1.31% lower than consensus estimates set at $663.6 million.

The stock is down 17.45% to $5.80 after the report.

Stagwell Inc's profit margins took a hit as earnings fell at a faster pace than revenues.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Stagwell Inc has performed a little above average during the past few months. Before the report, Stagwell Inc received a Long-Term Technical Rank by InvestorsObserver of 56, putting it in the top half of stocks. The firm set a 52-week low on November 2, 2023 at $3.83 and set a 52-week high on March 6, 2023 at $9.23.

Stagwell Inc is the challenger holding company built to transform marketing. It delivers scaled creative performance for the world's most ambitious brands, connecting culture-moving creativity with leading-edge technology to harmonize the art and science of marketing.

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