Emerald Expositions Events (NYSE:EEX) Rating Lowered to Sell at Citigroup

Citigroup lowered shares of Emerald Expositions Events (NYSE:EEX) from a neutral rating to a sell rating in a research note published on Friday, November 2nd, MarketBeat.com reports. They currently have $11.00 price objective on the stock, down from their previous price objective of $18.50.

Several other equities research analysts have also recently commented on the company. Deutsche Bank started coverage on Emerald Expositions Events in a research note on Monday, October 1st. They issued a hold rating and a $18.00 target price on the stock. ValuEngine cut Emerald Expositions Events from a sell rating to a strong sell rating in a research note on Friday, August 3rd. Zacks Investment Research cut Emerald Expositions Events from a hold rating to a sell rating in a research note on Friday, August 3rd. Credit Suisse Group started coverage on Emerald Expositions Events in a research note on Friday, August 10th. They issued a neutral rating and a $17.00 target price on the stock. Finally, Bank of America cut Emerald Expositions Events from a buy rating to a neutral rating in a research note on Thursday, November 1st. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $16.50.

Shares of NYSE:EEX traded down $0.23 during trading on Friday, hitting $11.37. 416,893 shares of the company’s stock traded hands, compared to its average volume of 282,833. Emerald Expositions Events has a 52 week low of $11.13 and a 52 week high of $24.45. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.58 and a quick ratio of 0.58. The stock has a market capitalization of $894.16 million, a PE ratio of 10.24, a price-to-earnings-growth ratio of 0.95 and a beta of 0.73.

Emerald Expositions Events (NYSE:EEX) last released its quarterly earnings data on Thursday, November 1st. The company reported $0.42 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.42. The business had revenue of $103.10 million for the quarter, compared to analysts’ expectations of $104.32 million. Emerald Expositions Events had a return on equity of 12.82% and a net margin of 29.62%. Emerald Expositions Events’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.36 EPS. On average, research analysts expect that Emerald Expositions Events will post 1.32 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 28th. Stockholders of record on Wednesday, November 14th will be paid a dividend of $0.072 per share. This represents a $0.29 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date is Tuesday, November 13th. Emerald Expositions Events’s dividend payout ratio is currently 26.13%.

Several institutional investors have recently made changes to their positions in EEX. SG Americas Securities LLC bought a new stake in shares of Emerald Expositions Events during the 2nd quarter worth approximately $163,000. Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Emerald Expositions Events during the 3rd quarter worth approximately $210,000. Millennium Management LLC bought a new stake in shares of Emerald Expositions Events during the 1st quarter worth approximately $257,000. Acadian Asset Management LLC bought a new stake in shares of Emerald Expositions Events during the 2nd quarter worth approximately $262,000. Finally, Prudential Financial Inc. bought a new stake in shares of Emerald Expositions Events during the 3rd quarter worth approximately $299,000. Institutional investors own 36.01% 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 comprising photography, food, healthcare, industrials, and military.

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Analyst Recommendations for Emerald Expositions Events (NYSE:EEX)

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