Stagwell Cuts FY23 Organic Net Revenue Growth Forecast From 7.5%-10% To 0%- 2%, Adjusted EPS Forecast From $0.90-$1.05 To $0.76-$0.85 (Consensus $0.85)
Portfolio Pulse from Benzinga Newsdesk
Stagwell has reduced its FY23 organic net revenue growth forecast from 7.5%-10% to 0%-2%. It has also lowered its adjusted EPS forecast from $0.90-$1.05 to $0.76-$0.85, which aligns with the consensus estimate of $0.85.
August 08, 2023 | 11:19 am
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NEGATIVE IMPACT
Stagwell's lowered FY23 forecasts for organic net revenue growth and adjusted EPS could negatively impact its stock price in the short term.
Stagwell's reduced forecasts for FY23 indicate potential challenges in its business performance. This could lead to a negative sentiment among investors, potentially driving down the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100