Emerald Expositions Events (NYSE:EEX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued 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 equities analysts have also recently issued reports on the company. Goldman Sachs Group cut Emerald Expositions Events from a “neutral” rating to a “sell” rating in a report on Tuesday, January 23rd. Robert W. Baird boosted their price objective on Emerald Expositions Events from $23.00 to $24.00 and gave the company a “neutral” rating in a report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $24.36.
Emerald Expositions Events (NYSE:EEX) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $0.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.07. The business had revenue of $31.50 million during the quarter, compared to analysts’ expectations of $31.57 million. Emerald Expositions Events had a return on equity of 10.48% and a net margin of 24.01%. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. sell-side analysts expect that Emerald Expositions Events will post 1.25 earnings per share for the current year.
In related news, SVP Lori Jenks sold 6,666 shares of Emerald Expositions Events stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $22.23, for a total value of $148,185.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP David Gosling sold 5,761 shares of Emerald Expositions Events stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $21.49, for a total value of $123,803.89. The disclosure for this sale can be found here. In the last 90 days, insiders sold 361,771 shares of company stock valued at $7,709,095.
Several institutional investors have recently made changes to their positions in the stock. MetLife Investment Advisors LLC purchased a new position in shares of Emerald Expositions Events in the 4th quarter valued at about $181,000. California State Teachers Retirement System increased its stake in shares of Emerald Expositions Events by 13.0% in the 4th quarter. California State Teachers Retirement System now owns 28,583 shares of the company’s stock valued at $581,000 after purchasing an additional 3,288 shares in the last quarter. Deutsche Bank AG increased its stake in shares of Emerald Expositions Events by 12.7% in the 4th quarter. Deutsche Bank AG now owns 40,674 shares of the company’s stock valued at $826,000 after purchasing an additional 4,575 shares in the last quarter. Thrivent Financial For Lutherans purchased a new position in shares of Emerald Expositions Events in the 4th quarter valued at about $989,000. Finally, Geode Capital Management LLC increased its stake in shares of Emerald Expositions Events by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 178,907 shares of the company’s stock valued at $3,638,000 after purchasing an additional 5,757 shares in the last quarter. Hedge funds and other institutional investors 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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