Emerald (NYSE:EEX) Shares Down 8% – Here’s What Happened

Emerald Holding, Inc. (NYSE:EEX) shares dropped 8% during trading on Monday . The company traded as low as $3.40 and last traded at $3.3660. Approximately 22,466 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 92,131 shares. The stock had previously closed at $3.66.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on EEX shares. Wall Street Zen downgraded Emerald from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Rosenblatt Securities lowered their price objective on Emerald from $7.90 to $7.70 and set a “buy” rating for the company in a research report on Monday, November 3rd. Finally, Weiss Ratings downgraded shares of Emerald from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 24th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $7.70.

Emerald Stock Up 6.0%

The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.35. The firm’s fifty day moving average price is $4.39 and its 200-day moving average price is $4.75. The company has a market cap of $733.86 million, a price-to-earnings ratio of 123.71 and a beta of 0.77.

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

Emerald Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Monday, November 10th were given a $0.015 dividend. This represents a $0.06 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Monday, November 10th. Emerald’s payout ratio is currently 200.00%.

Institutional Trading of Emerald

Institutional investors have recently modified their holdings of the company. Inspire Investing LLC bought a new stake in Emerald in the 1st quarter valued at approximately $352,000. Hsbc Holdings PLC boosted its position in Emerald by 12.3% during the first quarter. Hsbc Holdings PLC now owns 39,818 shares of the company’s stock valued at $153,000 after purchasing an additional 4,351 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its stake in Emerald by 24.1% in 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 during the last quarter. MSD Partners L.P. increased its holdings in shares of Emerald by 110.0% in the first quarter. MSD Partners L.P. now owns 1,050,000 shares of the company’s stock valued at $4,126,000 after purchasing an additional 550,000 shares during the last quarter. Finally, Vontobel Holding Ltd. bought a new position in shares of Emerald during the second quarter worth approximately $61,000. 14.90% of the stock is currently owned by institutional investors.

Emerald Company Profile

Emerald Holding, Inc operates business-to-business (B2B) trade shows in the United States. The company provides B2B trade show franchises; and B2B print publications and digital media products, which provide industry specific business news and information across various sectors. It also offers B2B e-commerce and digital merchandising solutions to manufacturers and retailers through Elastic Suite and Bulletin platforms.