Emerald Expositions Events (NYSE:EEX) was downgraded by investment analysts at Goldman Sachs Group from a “neutral” rating to a “sell” rating in a research report issued on Tuesday.
Several other brokerages also recently commented on EEX. Zacks Investment Research upgraded Emerald Expositions Events from a “sell” rating to a “hold” rating in a report on Wednesday, January 3rd. Robert W. Baird increased their price target on Emerald Expositions Events from $23.00 to $24.00 and gave the company a “neutral” rating in a report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. Emerald Expositions Events presently has a consensus rating of “Buy” and a consensus price target of $24.36.
Emerald Expositions Events (EEX) opened at $22.08 on Tuesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.63 and a quick ratio of 0.63. Emerald Expositions Events has a 52-week low of $18.67 and a 52-week high of $24.56.
Emerald Expositions Events (NYSE:EEX) last announced its quarterly earnings results on Thursday, November 2nd. The company reported $0.37 EPS for the quarter, meeting the consensus estimate of $0.37. Emerald Expositions Events had a return on equity of 7.09% and a net margin of 5.19%. The company had revenue of $100.40 million for the quarter, compared to the consensus estimate of $107.24 million. During the same quarter last year, the company posted $0.43 earnings per share. The company’s revenue for the quarter was down .1% compared to the same quarter last year. sell-side analysts forecast that Emerald Expositions Events will post 1.06 earnings per share for the current year.
In other news, Director Jeffrey G. Naylor sold 12,000 shares of the firm’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $22.13, for a total value of $265,560.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO David Loechner sold 31,555 shares of the firm’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $20.04, for a total transaction of $632,362.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 235,883 shares of company stock worth $5,039,458.
Several institutional investors have recently made changes to their positions in the company. Schwab Charles Investment Management Inc. grew its stake in shares of Emerald Expositions Events by 31.6% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 72,747 shares of the company’s stock worth $1,480,000 after acquiring an additional 17,452 shares during the last quarter. Neuberger Berman Group LLC acquired a new stake in shares of Emerald Expositions Events in the third quarter worth $877,000. Bamco Inc. NY lifted its position in Emerald Expositions Events by 7.5% in the third quarter. Bamco Inc. NY now owns 1,075,000 shares of the company’s stock worth $24,983,000 after purchasing an additional 75,000 shares during the period. Stifel Financial Corp bought a new position in Emerald Expositions Events in the third quarter worth $216,000. Finally, Wells Fargo & Company MN lifted its position in Emerald Expositions Events by 506.4% in the third quarter. Wells Fargo & Company MN now owns 270,657 shares of the company’s stock worth $6,291,000 after purchasing an additional 226,026 shares during the period. Institutional investors and hedge funds own 26.61% of the company’s stock.
About Emerald Expositions Events
Emerald Expositions Events, Inc (Emerald), formerly Expo Event Holdco, Inc, is an operator of business-to-business (B2B) trade shows. The Company operates across multiple sectors, which includes: Gift, Home and General Merchandise; Sports; Design and Construction; Technology; Jewelry; Other Trade Shows; and Other Events.
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