Emerald (NYSE:EEX) Trading Down 8% – What’s Next?

Emerald Holding, Inc. (NYSE:EEX)’s share price was down 8% during mid-day trading on Monday . The company traded as low as $3.40 and last traded at $3.3660. Approximately 22,466 shares traded 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.

Analyst Upgrades and Downgrades

EEX has been the topic of a number of research reports. Rosenblatt Securities dropped their price target on Emerald from $7.90 to $7.70 and set a “buy” rating on the stock in a research report on Monday, November 3rd. Wall Street Zen lowered shares of Emerald from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Weiss Ratings lowered Emerald from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 24th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Emerald currently has a consensus rating of “Hold” and a consensus price target of $7.70.

Emerald Trading Down 8.2%

The stock has a market capitalization of $664.64 million, a P/E ratio of 112.04 and a beta of 0.77. The company has a fifty day simple moving average of $4.46 and a two-hundred day simple moving average of $4.76. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.35.

Emerald (NYSE:EEX) last released its quarterly earnings data on Friday, October 31st. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.03). The company had revenue of $77.50 million during the quarter, compared to analyst estimates of $76.80 million. Emerald had a net margin of 1.05% and a return on equity of 1.20%. Emerald has set its FY 2025 guidance at EPS.

Emerald Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Monday, November 10th were paid a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Monday, November 10th. Emerald’s dividend payout ratio is currently 200.00%.

Hedge Funds Weigh In On Emerald

A number of hedge funds have recently added to or reduced their stakes in the stock. Nuveen LLC purchased a new position in Emerald in the first quarter worth $78,000. Hsbc Holdings PLC raised its stake in Emerald by 12.3% in the first quarter. Hsbc Holdings PLC now owns 39,818 shares of the company’s stock worth $153,000 after buying an additional 4,351 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in shares of Emerald by 24.1% during the first 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 in the last quarter. Contrarian Capital Management L.L.C. lifted its position in Emerald by 3.5% in the 1st quarter. Contrarian Capital Management L.L.C. now owns 818,862 shares of the company’s stock valued at $3,218,000 after acquiring an additional 27,977 shares in the last quarter. Finally, State of Wyoming lifted its holdings in shares of Emerald by 8.6% during the 1st quarter. State of Wyoming now owns 93,698 shares of the company’s stock valued at $368,000 after buying an additional 7,409 shares during the period. Institutional investors and hedge funds 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.