Stagwell Cuts 2023 Organic Net Revenue Forecast From 0%-2% Growth To Decline Of About 4%, Adjusted EPS From $0.76-$0.85 To $0.73-$0.78
Portfolio Pulse from Benzinga Newsdesk
Stagwell has revised its 2023 organic net revenue forecast from a growth of 0%-2% to a decline of about 4%. The company also adjusted its EPS from $0.76-$0.85 to $0.73-$0.78.
November 02, 2023 | 11:39 am
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NEGATIVE IMPACT
Stagwell's revised 2023 forecast indicates a decline in organic net revenue and a reduction in EPS, which could negatively impact the company's stock price.
Stagwell's revised forecast indicates a decline in both organic net revenue and EPS for 2023. This could be perceived negatively by investors, leading to a potential decrease in the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100