Emerald (NYSE:EEX) Sees Strong Trading Volume – What’s Next?

Emerald Holding, Inc. (NYSE:EEX) saw unusually-strong trading volume on Thursday . Approximately 1,220,941 shares changed hands during mid-day trading, an increase of 629% from the previous session’s volume of 167,404 shares.The stock last traded at $4.9750 and had previously closed at $4.98.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on EEX shares. Maxim Group lowered shares of Emerald from a “buy” rating to a “hold” rating in a report on Monday, May 11th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $5.03 price objective (down from $7.70) on shares of Emerald in a research note on Tuesday, May 12th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Emerald in a research note on Friday, May 8th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $5.03.

Emerald Price Performance

The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.47. The firm’s 50 day simple moving average is $4.66 and its 200 day simple moving average is $4.47. The company has a market capitalization of $984.60 million, a PE ratio of -26.19 and a beta of 0.55.

Emerald (NYSE:EEX) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.06). The firm had revenue of $155.40 million for the quarter, compared to analysts’ expectations of $155.40 million. Emerald had a negative return on equity of 10.81% and a negative net margin of 8.24%.

Emerald Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Thursday, May 21st will be paid a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Thursday, May 21st. Emerald’s payout ratio is presently -31.58%.

Institutional Trading of Emerald

Institutional investors and hedge funds have recently made changes to their positions in the business. State of Alaska Department of Revenue bought a new stake in shares of Emerald during the third quarter worth $31,000. Russell Investments Group Ltd. lifted its position in shares of Emerald by 127.0% during the fourth quarter. Russell Investments Group Ltd. now owns 6,957 shares of the company’s stock worth $31,000 after purchasing an additional 3,892 shares during the last quarter. Abel Hall LLC bought a new stake in shares of Emerald during the first quarter worth $48,000. Ritholtz Wealth Management bought a new stake in shares of Emerald during the fourth quarter worth $67,000. Finally, Wells Fargo & Company MN lifted its position in shares of Emerald by 79.0% during the fourth quarter. Wells Fargo & Company MN now owns 15,308 shares of the company’s stock worth $68,000 after purchasing an additional 6,756 shares during the last quarter. 14.90% of the stock is currently owned by institutional investors.

Emerald Company Profile

Emerald (NYSE: EEX) is a global provider of independent data, news and analytics for commodity, financial and energy markets. The company operates digital platforms that deliver real-time and historical price assessments, market commentary, research reports and risk-management tools. Its subscriber base spans traders, asset managers, corporate hedgers and financial institutions seeking timely intelligence to support trading, risk management and investment decisions.

Serving clients across North America, Europe and Asia-Pacific, Emerald covers a broad range of markets including metals, energy products, agriculture, freight, environmental emissions and treasury benchmarks.