Rosenblatt Securities Reiterates “Neutral” Rating for Emerald (NYSE:EEX)

Emerald (NYSE:EEX)‘s stock had its “neutral” rating reiterated by stock analysts at Rosenblatt Securities in a report released on Tuesday,Benzinga reports. They currently have a $5.03 price target on the stock, down from their previous price target of $7.70. Rosenblatt Securities’ price target suggests a potential upside of 0.70% from the company’s previous close.

Other analysts have also recently issued reports about the company. Maxim Group reiterated a “hold” rating on shares of Emerald in a research note on Monday. Weiss Ratings reiterated a “sell (d)” rating on shares of Emerald in a research note on Friday. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $5.03.

Emerald Stock Up 0.1%

Shares of NYSE EEX traded up $0.01 during mid-day trading on Tuesday, hitting $5.00. The company had a trading volume of 1,895,889 shares, compared to its average volume of 110,731. The company has a market capitalization of $988.56 million, a PE ratio of -33.30 and a beta of 0.55. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.82 and a quick ratio of 0.82. Emerald has a 1-year low of $3.32 and a 1-year high of $5.45. The business’s 50-day simple moving average is $4.57 and its 200 day simple moving average is $4.46.

Emerald (NYSE:EEX) last announced its quarterly earnings data on Monday, May 11th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.07). The company had revenue of $155.40 million during the quarter, compared to analyst estimates of $152.20 million. Emerald had a negative net margin of 6.62% and a negative return on equity of 8.24%.

Institutional Trading of Emerald

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. State of Alaska Department of Revenue purchased a new position in shares of Emerald during the third quarter worth about $31,000. Russell Investments Group Ltd. grew its holdings in shares of Emerald by 127.0% during the fourth quarter. Russell Investments Group Ltd. now owns 6,957 shares of the company’s stock worth $31,000 after buying an additional 3,892 shares during the last quarter. Abel Hall LLC purchased a new position in shares of Emerald during the first quarter worth about $48,000. Ritholtz Wealth Management purchased a new position in shares of Emerald during the fourth quarter worth about $67,000. Finally, Wells Fargo & Company MN grew its holdings in shares of Emerald by 79.0% during the fourth quarter. Wells Fargo & Company MN now owns 15,308 shares of the company’s stock worth $68,000 after buying an additional 6,756 shares during the last quarter. 14.90% of the stock is currently owned by institutional investors and hedge funds.

Key Emerald News

Here are the key news stories impacting Emerald this week:

• Positive Sentiment: Emerald agreed to be acquired by Apollo-managed funds in an all-cash transaction, which lifted investor sentiment as the market priced in a premium takeover outcome. Emerald Expositions to Be Acquired by Apollo Funds
• Positive Sentiment: News reports highlighted that Apollo is expected to pay a significant premium for Emerald, reinforcing the takeover thesis and supporting the share price. Apollo Global Management to buy Emerald Holding, Questex in cash deals
• Neutral Sentiment: Emerald declared a quarterly dividend of $0.015 per share, which is a modest shareholder return but is unlikely to be the main driver of the stock today. MarketBeat EEX page
• Neutral Sentiment: Maxim Group reaffirmed a hold rating on Emerald, and another report said the firm was downgraded to hold, which may temper some enthusiasm but does not outweigh the acquisition news. Maxim Group downgrades Emerald Holding (EEX)
• Negative Sentiment: Investor-law firm announcements about investigations into whether the Apollo deal delivers a fair price could create some uncertainty around the transaction process. Shareholder alert investigation

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.