Emerald (NYSE:EEX) Shares Gap Down – Here’s Why

Shares of Emerald Holding, Inc. (NYSE:EEX) gapped down prior to trading on Tuesday . The stock had previously closed at $4.79, but opened at $4.50. Emerald shares last traded at $4.59, with a volume of 1,102 shares trading hands.

Analyst Ratings Changes

EEX has been the subject of several recent analyst reports. Rosenblatt Securities reiterated a “buy” rating and set a $7.70 price objective on shares of Emerald in a research note on Wednesday, December 17th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Emerald in a report on Monday, December 29th. Finally, Wall Street Zen cut shares of Emerald from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. One 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 stock has a consensus rating of “Hold” and an average target price of $7.70.

Emerald Stock Down 4.1%

The company has a market cap of $923.77 million, a P/E ratio of 155.72 and a beta of 0.69. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.35. The firm has a fifty day moving average price of $4.26 and a 200 day moving average price of $4.66.

Emerald (NYSE:EEX) last issued its quarterly earnings results on Friday, October 31st. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.03). The company had revenue of $77.50 million for the quarter, compared to analyst estimates of $76.80 million. Emerald had a return on equity of 1.20% and a net margin of 1.05%.

Emerald Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Monday, November 10th were given a $0.015 dividend. This represents a $0.06 annualized dividend and a yield of 1.3%. The ex-dividend date was Monday, November 10th. Emerald’s payout ratio is 200.00%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Cubist Systematic Strategies LLC bought a new stake in shares of Emerald during the first quarter worth $116,000. Copeland Capital Management LLC boosted 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 acquiring an additional 2,718 shares during the last quarter. Vontobel Holding Ltd. bought a new position in Emerald in the second quarter valued at about $61,000. Los Angeles Capital Management LLC acquired a new stake in Emerald in the second quarter worth about $214,000. Finally, Police & Firemen s Retirement System of New Jersey acquired a new stake in Emerald in the second quarter worth about $33,000. 14.90% of the stock is currently owned by institutional investors.

Emerald Company Profile

Emerald (NYSE: EEX) is a global provider of independent data, news and analytics for commodity, financial and energy markets. The company operates digital platforms that deliver real-time and historical price assessments, market commentary, research reports and risk-management tools. Its subscriber base spans traders, asset managers, corporate hedgers and financial institutions seeking timely intelligence to support trading, risk management and investment decisions.

Serving clients across North America, Europe and Asia-Pacific, Emerald covers a broad range of markets including metals, energy products, agriculture, freight, environmental emissions and treasury benchmarks.