ValuEngine Downgrades Emerald Expositions Events (EEX) to Strong Sell

ValuEngine cut shares of Emerald Expositions Events (NYSE:EEX) from a sell rating to a strong sell rating in a research note released on Friday, ValuEngine reports.

EEX has been the topic of a number of other reports. Barclays lowered Emerald Expositions Events from an equal weight rating to an underweight rating and set a $12.00 target price on the stock. in a research report on Friday, January 18th. Zacks Investment Research lowered Emerald Expositions Events from a hold rating to a sell rating in a research report on Monday, January 7th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. Emerald Expositions Events currently has a consensus rating of Hold and an average price target of $14.38.

NYSE EEX opened at $12.95 on Friday. The company has a market capitalization of $940.53 million, a price-to-earnings ratio of 9.74, a P/E/G ratio of 1.36 and a beta of 0.48. Emerald Expositions Events has a fifty-two week low of $10.76 and a fifty-two week high of $21.56. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.38 and a quick ratio of 0.38.

Emerald Expositions Events (NYSE:EEX) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.53 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.58 by ($0.05). The company had revenue of $137.40 million during the quarter, compared to analysts’ expectations of $141.44 million. Emerald Expositions Events had a positive return on equity of 11.39% and a negative net margin of 9.76%. The firm’s revenue was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.66 EPS. As a group, sell-side analysts forecast that Emerald Expositions Events will post 1.08 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th will be given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.32%. This is a positive change from Emerald Expositions Events’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Monday, May 13th. Emerald Expositions Events’s dividend payout ratio is presently 21.80%.

Several hedge funds have recently bought and sold shares of the stock. Gamco Investors INC. ET AL raised its position in shares of Emerald Expositions Events by 5.5% during the 1st quarter. Gamco Investors INC. ET AL now owns 19,024 shares of the company’s stock valued at $242,000 after acquiring an additional 1,000 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Emerald Expositions Events by 269.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 5,757 shares of the company’s stock valued at $73,000 after acquiring an additional 4,197 shares in the last quarter. LGT Capital Partners LTD. raised its position in shares of Emerald Expositions Events by 61.8% during the 1st quarter. LGT Capital Partners LTD. now owns 165,000 shares of the company’s stock valued at $2,096,000 after acquiring an additional 63,000 shares in the last quarter. American Century Companies Inc. raised its position in shares of Emerald Expositions Events by 765.0% during the 4th quarter. American Century Companies Inc. now owns 478,698 shares of the company’s stock valued at $5,907,000 after acquiring an additional 423,360 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Emerald Expositions Events by 12.0% during the 4th quarter. Geode Capital Management LLC now owns 279,003 shares of the company’s stock valued at $3,442,000 after acquiring an additional 29,951 shares in the last quarter. 35.09% of the stock is currently owned by institutional investors and hedge funds.

About Emerald Expositions Events

Emerald Expositions Events, Inc operates business-to-business (B2B) trade shows in the United States. The company operates trade shows in various industry sectors, including gift, home, and general merchandise; sports; design and construction; technology; jewelry; and others, such as photography, food, healthcare, industrials, and military.

Further Reading: Producer Price Index (PPI)

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Analyst Recommendations for Emerald Expositions Events (NYSE:EEX)

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