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%.

Several equities analysts have commented on the stock. Royal Bank of Canada assumed coverage on shares of Emerald Expositions Events in a research report on Monday, November 19th. They set a “sector perform” rating and a $13.00 target price on the stock. Citigroup cut shares of Emerald Expositions Events from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $18.50 to $11.00 in a research report on Friday, November 2nd. Bank of America cut shares of Emerald Expositions Events from a “buy” rating to a “neutral” rating in a research report on Thursday, November 1st. Zacks Investment Research cut shares of Emerald Expositions Events from a “hold” rating to a “sell” rating in a research report on Monday, November 5th. Finally, Robert W. Baird dropped their target price on shares of Emerald Expositions Events from $18.00 to $14.00 and set a “neutral” rating on the stock in a research report on Friday, November 2nd. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $14.29.

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.

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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.

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