Stagwell (STGW) shares were down more than 4% in recent Friday trading after analysts at Benchmark downgraded their rating on the advertising and consumer data company's stock to hold from buy.
The downgrade followed Stagwell Thursday morning reporting Q1 adjusted earnings of $0.12 per share, down from $0.16 during the year-ago period and trailing the $0.15 consensus of analysts polled by Factset.
Revenue for the quarter ended March 31 fell 2.7% year-over-year to $651.7 million, also lagging analyst expectations looking for $686 million.
Trading volume stood at over 1.3 million shares against a daily average of around 665,000.
Price: 4.78, Change: -0.22, Percent Change: -4.40
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