Research Analysts Issue Forecasts for AE FY2024 Earnings

Adams Resources & Energy, Inc. (NYSE:AE) – Research analysts at B. Riley dropped their FY2024 earnings estimates for Adams Resources & Energy in a report issued on Wednesday, November 13th. B. Riley analyst L. Burke now expects that the company will post earnings per share of ($2.65) for the year, down from their prior forecast of ($1.59). B. Riley has a “Neutral” rating and a $38.00 price objective on the stock. The consensus estimate for Adams Resources & Energy’s current full-year earnings is ($1.59) per share. B. Riley also issued estimates for Adams Resources & Energy’s Q4 2024 earnings at $0.17 EPS and FY2025 earnings at $0.47 EPS.

Adams Resources & Energy Stock Down 0.0 %

Shares of NYSE:AE opened at $37.07 on Friday. The company’s fifty day moving average is $26.92 and its 200-day moving average is $26.39. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.97 and a current ratio of 1.04. Adams Resources & Energy has a 52 week low of $22.30 and a 52 week high of $37.90. The company has a market capitalization of $95.57 million, a PE ratio of -11.73 and a beta of 0.79.

Adams Resources & Energy (NYSE:AE) last posted its earnings results on Tuesday, November 12th. The company reported ($1.76) EPS for the quarter, missing the consensus estimate of ($0.56) by ($1.20). Adams Resources & Energy had a negative return on equity of 8.14% and a negative net margin of 0.29%. The company had revenue of $695.16 million for the quarter, compared to the consensus estimate of $649.00 million.

Institutional Investors Weigh In On Adams Resources & Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of AE. Round Hill Asset Management raised its position in Adams Resources & Energy by 71.6% in the 3rd quarter. Round Hill Asset Management now owns 22,979 shares of the company’s stock worth $620,000 after purchasing an additional 9,587 shares during the last quarter. Wittenberg Investment Management Inc. increased its stake in shares of Adams Resources & Energy by 1.6% in the 3rd quarter. Wittenberg Investment Management Inc. now owns 21,315 shares of the company’s stock valued at $576,000 after buying an additional 339 shares during the period. Cerity Partners LLC lifted its stake in shares of Adams Resources & Energy by 117.1% during the third quarter. Cerity Partners LLC now owns 20,350 shares of the company’s stock valued at $549,000 after acquiring an additional 10,977 shares during the period. Empowered Funds LLC boosted its holdings in Adams Resources & Energy by 5.3% in the third quarter. Empowered Funds LLC now owns 18,542 shares of the company’s stock valued at $501,000 after acquiring an additional 938 shares during the last quarter. Finally, Bard Associates Inc. increased its position in Adams Resources & Energy by 13.1% in the third quarter. Bard Associates Inc. now owns 12,438 shares of the company’s stock worth $336,000 after purchasing an additional 1,443 shares during the period. 57.81% of the stock is owned by institutional investors and hedge funds.

Adams Resources & Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.24 per share. The ex-dividend date is Friday, December 6th. This represents a $0.96 annualized dividend and a yield of 2.59%. Adams Resources & Energy’s dividend payout ratio is -30.38%.

About Adams Resources & Energy

Adams Resources & Energy, Inc, through its subsidiaries, primarily engages in the marketing, transportation, terminalling, and storage of crude oil and other related products in the United States. The company operates through four segments: Crude Oil Marketing, Transportation, Pipeline and Storage, and Logistics and Repurposing.