Emerald (NYSE:EEX) Trading Down 3.9% – Here’s Why

by · The Markets Daily

Emerald Holding, Inc. (NYSE:EEX – Get Free Report)’s stock price fell 3.9% on Friday . The company traded as low as $4.92 and last traded at $4.88. 29,047 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 97,736 shares. The stock had previously closed at $5.08.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Wall Street Zen cut Emerald from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Rosenblatt Securities reissued a “buy” rating and set a $7.70 price target on shares of Emerald in a report on Wednesday. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Emerald in a research report on Monday. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $7.70.

Check Out Our Latest Stock Analysis on Emerald

Emerald Stock Performance

The firm has a fifty day moving average of $4.16 and a 200-day moving average of $4.70. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.35. The firm has a market cap of $927.93 million, a P/E ratio of 157.05 and a beta of 0.77.

Emerald (NYSE:EEX – Get Free Report) last released its earnings results on Friday, October 31st. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.03). The business had revenue of $77.50 million for the quarter, compared to analyst estimates of $76.80 million. Emerald had a net margin of 1.05% and a return on equity of 1.20%.

Emerald Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Monday, November 10th were paid a $0.015 dividend. The ex-dividend date of this dividend was Monday, November 10th. This represents a $0.06 dividend on an annualized basis and a yield of 1.3%. Emerald’s dividend payout ratio (DPR) is presently 200.00%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. MSD Partners L.P. grew its stake in Emerald by 1.6% in the second quarter. MSD Partners L.P. now owns 1,066,638 shares of the company’s stock valued at $5,173,000 after acquiring an additional 16,638 shares during the period. Contrarian Capital Management L.L.C. raised its position in shares of Emerald by 12.1% during the third quarter. Contrarian Capital Management L.L.C. now owns 879,000 shares of the company’s stock worth $4,474,000 after purchasing an additional 95,138 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Emerald by 24.1% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 675,356 shares of the company’s stock valued at $2,654,000 after purchasing an additional 131,200 shares in the last quarter. State of Wyoming grew its position in shares of Emerald by 8.6% in the 1st quarter. State of Wyoming now owns 93,698 shares of the company’s stock valued at $368,000 after purchasing an additional 7,409 shares during the period. Finally, Citadel Advisors LLC grew its position in shares of Emerald by 197.6% in the 3rd quarter. Citadel Advisors LLC now owns 92,276 shares of the company’s stock valued at $470,000 after purchasing an additional 61,273 shares during the period. Institutional investors and hedge funds own 14.90% of the company’s stock.

About Emerald

(Get Free Report)

Emerald (NYSE: EEX) is a global provider of independent data, news and analytics for commodity, financial and energy markets. The company operates digital platforms that deliver real-time and historical price assessments, market commentary, research reports and risk-management tools. Its subscriber base spans traders, asset managers, corporate hedgers and financial institutions seeking timely intelligence to support trading, risk management and investment decisions.

Serving clients across North America, Europe and Asia-Pacific, Emerald covers a broad range of markets including metals, energy products, agriculture, freight, environmental emissions and treasury benchmarks.

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