Zacks Investment Research Lowers Emerald Expositions Events, Inc. (EEX) to Sell

Zacks Investment Research lowered shares of Emerald Expositions Events, Inc. (NYSE:EEX) from a hold rating to a sell rating in a research report report published on Tuesday, July 25th.

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. “

A number of other brokerages have also recently weighed in on EEX. Bank of America Corporation assumed coverage on shares of Emerald Expositions Events in a report on Tuesday, May 23rd. They issued a buy rating and a $25.00 price objective on the stock. Credit Suisse Group assumed coverage on shares of Emerald Expositions Events in a report on Tuesday, May 23rd. They issued a neutral rating and a $24.00 price objective on the stock. Deutsche Bank AG assumed coverage on shares of Emerald Expositions Events in a report on Tuesday, May 23rd. They issued a buy rating and a $25.00 price objective on the stock. Barclays PLC assumed coverage on shares of Emerald Expositions Events in a report on Tuesday, May 23rd. They issued an overweight rating and a $25.00 price objective on the stock. Finally, Goldman Sachs Group, Inc. (The) assumed coverage on shares of Emerald Expositions Events in a report on Tuesday, May 23rd. They issued a neutral rating and a $23.20 price objective on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $24.28.

Shares of Emerald Expositions Events (NYSE EEX) traded up 1.84% during mid-day trading on Tuesday, hitting $21.63. The stock had a trading volume of 149,357 shares. Emerald Expositions Events has a 1-year low of $18.67 and a 1-year high of $23.37. The stock’s 50-day moving average is $22.11 and its 200 day moving average is $21.63. The firm has a market capitalization of $1.56 billion and a price-to-earnings ratio of 83.84.

Emerald Expositions Events (NYSE:EEX) last announced its quarterly earnings data on Thursday, August 3rd. The company reported $0.18 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.18. The business had revenue of $74.14 million during the quarter, compared to analysts’ expectations of $74.81 million. Equities research analysts predict that Emerald Expositions Events will post $1.06 EPS for the current fiscal year.

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The company also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Thursday, August 17th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date is Tuesday, August 15th.

Several large investors have recently bought and sold shares of EEX. First Manhattan Co. purchased a new stake in Emerald Expositions Events during the second quarter worth approximately $2,538,000. State of New Jersey Common Pension Fund D purchased a new stake in Emerald Expositions Events during the second quarter worth approximately $2,190,000. Spark Investment Management LLC purchased a new stake in Emerald Expositions Events during the second quarter worth approximately $2,525,000. Teachers Advisors LLC purchased a new stake in Emerald Expositions Events during the second quarter worth approximately $607,000. Finally, Wells Fargo & Company MN purchased a new stake in Emerald Expositions Events during the second quarter worth approximately $977,000. Hedge funds and other institutional investors own 0.47% of the company’s stock.

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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Analyst Recommendations for Emerald Expositions Events (NYSE:EEX)

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