Emerald Expositions Events (EEX) Stock Price Down 8.7% Following Weak Earnings
Shares of Emerald Expositions Events Inc (NYSE:EEX) were down 8.7% during mid-day trading on Thursday after the company announced weaker than expected quarterly earnings. The stock traded as low as $12.15 and last traded at $13.18. Approximately 514,624 shares changed hands during trading, an increase of 177% from the average daily volume of 185,775 shares. The stock had previously closed at $14.43.
The company reported ($1.45) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($1.43). Emerald Expositions Events had a net margin of 29.62% and a return on equity of 12.68%. The business had revenue of $57.00 million during the quarter, compared to the consensus estimate of $53.55 million. During the same period in the previous year, the business posted $0.07 EPS. Emerald Expositions Events’s revenue was up 81.0% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 5th. Shareholders of record on Tuesday, February 19th will be given a dividend of $0.0725 per share. The ex-dividend date of this dividend is Friday, February 15th. This represents a $0.29 annualized dividend and a dividend yield of 2.18%. This is a boost from Emerald Expositions Events’s previous quarterly dividend of $0.07. Emerald Expositions Events’s dividend payout ratio (DPR) is currently 26.13%.
In other news, insider William Charles sold 14,932 shares of the firm’s stock in a transaction that occurred on Wednesday, November 28th. The shares were sold at an average price of $12.00, for a total transaction of $179,184.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 5.30% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the company. New York State Teachers Retirement System purchased a new stake in shares of Emerald Expositions Events during the 4th quarter worth approximately $27,000. Metropolitan Life Insurance Co. NY increased its stake in shares of Emerald Expositions Events by 340.7% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 6,883 shares of the company’s stock worth $85,000 after purchasing an additional 5,321 shares during the last quarter. Citigroup Inc. increased its stake in shares of Emerald Expositions Events by 45.4% during the 4th quarter. Citigroup Inc. now owns 9,922 shares of the company’s stock worth $122,000 after purchasing an additional 3,096 shares during the last quarter. Stone Ridge Asset Management LLC purchased a new stake in shares of Emerald Expositions Events during the 4th quarter worth approximately $152,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of Emerald Expositions Events during the 3rd quarter worth approximately $210,000. Institutional investors own 35.60% of the company’s stock.
The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $1.06 billion, a PE ratio of 11.99, a P/E/G ratio of 1.29 and a beta of 0.46.
COPYRIGHT VIOLATION NOTICE: This article was originally published by Watch List News and is the sole property of of Watch List News. If you are viewing this article on another domain, it was stolen and reposted in violation of international copyright and trademark laws. The original version of this article can be accessed at https://www.watchlistnews.com/emerald-expositions-events-eex-stock-price-down-8-7-following-weak-earnings/2824681.html.
About Emerald Expositions Events (NYSE:EEX)
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 comprising photography, food, healthcare, industrials, and military.
Further Reading: What is a Reverse Stock Split?
Receive News & Ratings for Emerald Expositions Events Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Emerald Expositions Events and related companies with MarketBeat.com's FREE daily email newsletter.