Zacks Investment Research lowered shares of Emerald Expositions Events (NYSE:EEX) from a buy rating to a hold rating in a research report report published on Friday.
According to Zacks, “Emerald Expositions Events, Inc. organizes business to business trade shows. The Company operates live events as well as offers other marketing services, including digital media and print publications. It serves sports, technology, jewelry, construction and other sectors primarily in the United States. Emerald Expositions Events, Inc. is headquartered in San Juan Capistrano, California. “
Several other analysts have also recently issued reports on EEX. Robert W. Baird boosted their price objective on shares of Emerald Expositions Events from $23.00 to $24.00 and gave the company a neutral rating in a research note on Friday, November 3rd. Goldman Sachs Group cut shares of Emerald Expositions Events from a neutral rating to a sell rating in a research note on Tuesday, January 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. Emerald Expositions Events has an average rating of Hold and a consensus target price of $24.36.
Emerald Expositions Events (NYSE:EEX) last released its earnings results on Thursday, February 22nd. The company reported $0.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.07. Emerald Expositions Events had a net margin of 24.01% and a return on equity of 10.10%. The firm had revenue of $31.50 million during the quarter, compared to analysts’ expectations of $31.57 million. Emerald Expositions Events’s revenue was up 3.6% compared to the same quarter last year. equities analysts anticipate that Emerald Expositions Events will post 1.25 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $0.28 annualized dividend and a dividend yield of 1.26%. Emerald Expositions Events’s dividend payout ratio is presently 24.56%.
In related news, SVP David Gosling sold 5,761 shares of Emerald Expositions Events stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $21.49, for a total transaction of $123,803.89. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO David Loechner sold 53,139 shares of Emerald Expositions Events stock in a transaction on Monday, December 4th. The shares were sold at an average price of $22.34, for a total transaction of $1,187,125.26. The disclosure for this sale can be found here. Insiders have sold a total of 361,771 shares of company stock valued at $7,709,095 over the last three months.
Several large investors have recently bought and sold shares of the stock. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Emerald Expositions Events by 1,879.4% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,238,144 shares of the company’s stock valued at $52,014,000 after acquiring an additional 2,125,071 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Emerald Expositions Events by 12.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,661,574 shares of the company’s stock valued at $38,748,000 after acquiring an additional 189,166 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in shares of Emerald Expositions Events by 19.4% during the 4th quarter. Lazard Asset Management LLC now owns 1,550,340 shares of the company’s stock valued at $31,533,000 after acquiring an additional 252,092 shares in the last quarter. Vanguard Group Inc. acquired a new position in shares of Emerald Expositions Events during the 2nd quarter valued at $27,309,000. Finally, Bamco Inc. NY lifted its holdings in shares of Emerald Expositions Events by 7.5% during the 3rd quarter. Bamco Inc. NY now owns 1,075,000 shares of the company’s stock valued at $24,983,000 after acquiring an additional 75,000 shares in the last quarter. Institutional investors and hedge funds own 27.61% of the company’s stock.
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About Emerald Expositions Events
Emerald Expositions Events, Inc (Emerald), formerly Expo Event Holdco, Inc, is an operator of business-to-business (B2B) trade shows. The Company operates across multiple sectors, which includes: Gift, Home and General Merchandise; Sports; Design and Construction; Technology; Jewelry; Other Trade Shows; and Other Events.
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