Goldman Sachs Group Upgrades Emerald Expositions Events (EEX) to Buy

Goldman Sachs Group upgraded shares of Emerald Expositions Events (NYSE:EEX) from a neutral rating to a buy rating in a research note published on Tuesday morning, MarketBeat reports. They currently have $15.00 target price on the stock, down from their previous target price of $20.30.

Several other equities research analysts also recently commented on EEX. Zacks Investment Research upgraded Emerald Expositions Events from a sell rating to a hold rating in a report on Tuesday, July 10th. ValuEngine cut Emerald Expositions Events from a hold rating to a sell rating in a research report on Tuesday, July 24th. Robert W. Baird cut their target price on Emerald Expositions Events from $18.00 to $14.00 and set a neutral rating on the stock in a research report on Friday, November 2nd. Bank of America cut Emerald Expositions Events from a buy rating to a neutral rating in a research report on Thursday, November 1st. Finally, Citigroup cut Emerald Expositions Events from a neutral rating to a sell rating and cut their target price for the company from $18.50 to $11.00 in a research report on Friday, November 2nd. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $16.50.

NYSE EEX opened at $11.37 on Tuesday. The company has a market cap of $894.16 million, a PE ratio of 9.49, a PEG ratio of 0.95 and a beta of 0.73. Emerald Expositions Events has a 52 week low of $11.13 and a 52 week high of $24.45. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.66.

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

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

Hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC purchased a new position in shares of Emerald Expositions Events during the 2nd quarter valued at $163,000. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Emerald Expositions Events during the 3rd quarter valued at $210,000. Millennium Management LLC purchased a new position in shares of Emerald Expositions Events during the 1st quarter valued at $257,000. Acadian Asset Management LLC purchased a new position in shares of Emerald Expositions Events during the 2nd quarter valued at $262,000. Finally, Prudential Financial Inc. purchased a new position in shares of Emerald Expositions Events during the 3rd quarter valued at $299,000. 36.01% of the stock is currently owned by hedge funds and other institutional investors.

Emerald Expositions Events Company Profile

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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