Brokerages Set Stagwell Inc. (NASDAQ:STGW) Price Target at $7.79

Shares of Stagwell Inc. (NASDAQ:STGW) have been given a consensus rating of “Moderate Buy” by the seven research firms that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $7.79.

A number of research analysts recently commented on STGW shares. 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 target price for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $7.50 price objective on shares of Stagwell in a report on Friday, August 2nd. Benchmark reissued a “buy” rating and issued a $8.50 target price on shares of Stagwell in a research note on Wednesday, August 14th. Finally, Rosenblatt Securities restated a “buy” rating and set a $8.00 price target on shares of Stagwell in a research note on Monday, August 5th.

Institutional Investors Weigh In On Stagwell

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quarry LP bought a new position in shares of Stagwell in the 2nd quarter valued at about $29,000. Lighthouse Investment Partners LLC acquired a new stake in Stagwell during the 2nd quarter worth $2,316,000. The Manufacturers Life Insurance Company grew its holdings in Stagwell by 16.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 35,681 shares of the company’s stock worth $243,000 after acquiring an additional 4,961 shares during the period. Sei Investments Co. raised its position in shares of Stagwell by 3.4% during the 2nd quarter. Sei Investments Co. now owns 181,966 shares of the company’s stock valued at $1,241,000 after acquiring an additional 5,918 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its stake in shares of Stagwell by 25.1% in the 2nd 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. Institutional investors and hedge funds own 35.61% of the company’s stock.

Stagwell Stock Performance

NASDAQ:STGW opened at $7.22 on Thursday. The firm’s 50-day moving average is $6.81 and its 200-day moving average is $6.54. The company has a market cap of $1.94 billion, a price-to-earnings ratio of -240.67 and a beta of 1.35. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.90 and a current ratio of 0.90. Stagwell has a 52-week low of $3.83 and a 52-week high of $7.50.

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

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.