Emerald (NYSE:EEX) Shares Up 9.5% – Here’s What Happened

Emerald Holding, Inc. (NYSE:EEX) shares were up 9.5% during trading on Thursday . The company traded as high as $4.99 and last traded at $5.06. Approximately 37,266 shares changed hands during trading, a decline of 62% from the average daily volume of 97,653 shares. The stock had previously closed at $4.62.

Analyst Ratings Changes

EEX has been the topic of several research analyst reports. Wall Street Zen downgraded Emerald from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings reiterated a “sell (d)” rating on shares of Emerald in a research report on Monday. Finally, Rosenblatt Securities reissued a “buy” rating and set a $7.70 price target on shares of Emerald in a research report on Wednesday. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $7.70.

Emerald Stock Up 10.0%

The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.81 and a current ratio of 0.81. The business’s 50 day moving average price is $4.16 and its 200 day moving average price is $4.69. The firm has a market cap of $1.00 billion, a price-to-earnings ratio of 169.39 and a beta of 0.77.

Emerald (NYSE:EEX) last announced its quarterly 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). Emerald had a return on equity of 1.20% and a net margin of 1.05%.The firm had revenue of $77.50 million for the quarter, compared to analysts’ expectations of $76.80 million.

Emerald Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Monday, November 10th were given a dividend of $0.015 per share. The ex-dividend date was Monday, November 10th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.2%. Emerald’s dividend payout ratio (DPR) is 200.00%.

Hedge Funds Weigh In On Emerald

A number of hedge funds have recently bought and sold shares of the business. Copeland Capital Management LLC grew its holdings in Emerald by 16.4% in the second quarter. Copeland Capital Management LLC now owns 19,328 shares of the company’s stock valued at $94,000 after purchasing an additional 2,718 shares during the period. Hsbc Holdings PLC lifted its position in shares of Emerald by 12.3% during the 1st quarter. Hsbc Holdings PLC now owns 39,818 shares of the company’s stock valued at $153,000 after buying an additional 4,351 shares in the last quarter. Jane Street Group LLC lifted its position in shares of Emerald by 18.1% during the 2nd quarter. Jane Street Group LLC now owns 33,350 shares of the company’s stock valued at $162,000 after buying an additional 5,113 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in Emerald in the 3rd quarter valued at $31,000. Finally, Police & Firemen s Retirement System of New Jersey purchased a new stake in Emerald in the 2nd quarter worth $33,000. Hedge funds and other institutional investors own 14.90% of the company’s stock.

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.