Emerald Expositions Events Inc (NYSE:EEX) Expected to Post Quarterly Sales of $136.30 Million

Wall Street brokerages predict that Emerald Expositions Events Inc (NYSE:EEX) will post $136.30 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Emerald Expositions Events’ earnings, with the lowest sales estimate coming in at $134.44 million and the highest estimate coming in at $138.15 million. Emerald Expositions Events posted sales of $137.40 million in the same quarter last year, which would indicate a negative year over year growth rate of 0.8%. The business is expected to announce its next quarterly earnings report on Thursday, May 7th.

According to Zacks, analysts expect that Emerald Expositions Events will report full year sales of $360.71 million for the current year, with estimates ranging from $357.85 million to $363.57 million. For the next fiscal year, analysts expect that the company will report sales of $361.42 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Emerald Expositions Events.

Emerald Expositions Events (NYSE:EEX) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($0.10) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.10). The firm had revenue of $44.90 million for the quarter, compared to the consensus estimate of $45.14 million. The business’s revenue was down 21.2% compared to the same quarter last year.

A number of equities analysts have issued reports on EEX shares. ValuEngine raised shares of Emerald Expositions Events from a “sell” rating to a “hold” rating in a report on Tuesday, December 3rd. Deutsche Bank lowered their target price on shares of Emerald Expositions Events from $11.50 to $9.00 and set a “hold” rating on the stock in a research note on Friday. Five equities research analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and a consensus target price of $11.95.

Shares of NYSE:EEX traded down $0.52 during trading on Thursday, reaching $9.60. 166,083 shares of the company’s stock traded hands. Emerald Expositions Events has a 12 month low of $8.97 and a 12 month high of $14.37. The company has a 50 day moving average of $10.52 and a 200-day moving average of $10.05.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 21st will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 3.13%. The ex-dividend date is Thursday, February 20th.

Several hedge funds have recently added to or reduced their stakes in the company. First Trust Advisors LP lifted its position in Emerald Expositions Events by 7.7% in the first quarter. First Trust Advisors LP now owns 217,899 shares of the company’s stock worth $2,767,000 after purchasing an additional 15,589 shares during the period. BlackRock Inc. increased its stake in shares of Emerald Expositions Events by 1.0% in the 2nd quarter. BlackRock Inc. now owns 1,907,709 shares of the company’s stock valued at $21,271,000 after acquiring an additional 18,629 shares during the last quarter. Bank of America Corp DE grew its position in shares of Emerald Expositions Events by 15.6% in the 2nd quarter. Bank of America Corp DE now owns 94,765 shares of the company’s stock valued at $1,056,000 after purchasing an additional 12,787 shares during the period. Nuveen Asset Management LLC bought a new stake in Emerald Expositions Events in the 2nd quarter valued at approximately $2,066,000. Finally, Rhumbline Advisers boosted its holdings in shares of Emerald Expositions Events by 9.9% in the 3rd quarter. Rhumbline Advisers now owns 38,804 shares of the company’s stock valued at $378,000 after buying an additional 3,499 shares during the last quarter. Institutional investors and hedge funds own 33.41% of the company’s stock.

About Emerald Expositions Events

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, such as photography, food, healthcare, industrials, and military.

Further Reading: How Do You Calculate Return on Equity (ROE)?

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