Zacks Investment Research Downgrades Emerald Expositions Events (EEX) to Sell

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Zacks Investment Research downgraded shares of Emerald Expositions Events (NYSE:EEX) from a hold rating to a sell rating in a research report report published on Monday.

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 research analysts have also issued reports on EEX. ValuEngine lowered shares of Emerald Expositions Events from a hold rating to a sell rating in a research note on Tuesday, July 24th. Robert W. Baird dropped their price objective on shares of Emerald Expositions Events from $18.00 to $14.00 and set a neutral rating on the stock in a research note on Friday, November 2nd. Citigroup lowered shares of Emerald Expositions Events from a neutral rating to a sell rating and dropped their price objective for the company from $18.50 to $11.00 in a research note on Friday, November 2nd. Bank of America lowered shares of Emerald Expositions Events from a buy rating to a neutral rating in a research note on Thursday, November 1st. Finally, Credit Suisse Group began coverage on shares of Emerald Expositions Events in a research note on Friday, August 10th. They issued a neutral rating and a $17.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $16.50.

NYSE EEX traded down $0.42 on Monday, hitting $11.18. 27,644 shares of the company were exchanged, compared to its average volume of 274,948. The firm has a market cap of $928.49 million, a PE ratio of 10.45, a P/E/G ratio of 0.98 and a beta of 0.73. Emerald Expositions Events has a 12 month low of $11.50 and a 12 month high of $24.45. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.66.

Emerald Expositions Events (NYSE:EEX) last issued its earnings results on Thursday, November 1st. The company reported $0.42 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.42. The business had revenue of $103.10 million for the quarter, compared to analyst estimates of $104.32 million. Emerald Expositions Events had a net margin of 29.62% and a return on equity of 12.82%. Emerald Expositions Events’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.36 earnings per share. On average, equities analysts predict that Emerald Expositions Events will post 1.32 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 28th. Shareholders of record on Wednesday, November 14th will be paid a $0.072 dividend. This represents a $0.29 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend is Tuesday, November 13th. Emerald Expositions Events’s dividend payout ratio (DPR) is 26.13%.

Several institutional investors have recently added to or reduced their stakes in EEX. SG Americas Securities LLC bought a new position in shares of Emerald Expositions Events during the second quarter valued at about $163,000. Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Emerald Expositions Events during the third quarter valued at about $210,000. Millennium Management LLC bought a new position in shares of Emerald Expositions Events during the first quarter valued at about $257,000. Acadian Asset Management LLC bought a new position in shares of Emerald Expositions Events during the second quarter valued at about $262,000. Finally, Prudential Financial Inc. bought a new position in shares of Emerald Expositions Events during the third quarter valued at about $299,000. 36.01% of the stock is currently owned by hedge funds and other institutional investors.

Emerald Expositions Events Company Profile

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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