Emerald (NYSE:EEX) Shares Pass Above Fifty Day Moving Average – Here’s What Happened

Emerald Holding, Inc. (NYSE:EEX) crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $4.89 and traded as high as $5.04. Emerald shares last traded at $5.0250, with a volume of 78,111 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on EEX shares. Maxim Group cut Emerald from a “buy” rating to a “hold” rating in a report on Monday, May 11th. Rosenblatt Securities restated a “neutral” rating and issued a $5.03 price objective (down from $7.70) on shares of Emerald in a report on Tuesday, May 12th. Finally, Weiss Ratings raised shares of Emerald from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, June 2nd. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $5.03.

Emerald Trading Up 0.1%

The company has a debt-to-equity ratio of 1.47, a current ratio of 0.91 and a quick ratio of 0.91. The firm’s 50 day moving average price is $4.89 and its 200 day moving average price is $4.64. The stock has a market capitalization of $994.50 million, a P/E ratio of -26.45 and a beta of 0.57.

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

Emerald Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Thursday, May 21st were issued a $0.015 dividend. The ex-dividend date was Thursday, May 21st. This represents a $0.06 annualized dividend and a yield of 1.2%. Emerald’s payout ratio is -31.58%.

Institutional Trading of Emerald

Several large investors have recently bought and sold shares of EEX. Russell Investments Group Ltd. grew its holdings in shares of Emerald by 127.0% during the 4th quarter. Russell Investments Group Ltd. now owns 6,957 shares of the company’s stock worth $31,000 after acquiring an additional 3,892 shares during the period. Abel Hall LLC purchased a new stake in shares of Emerald in the 1st quarter worth about $48,000. Ritholtz Wealth Management purchased a new position in Emerald during the 4th quarter valued at about $67,000. Wells Fargo & Company MN boosted its stake in 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 acquiring an additional 6,756 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in Emerald in the first quarter worth about $116,000. 14.90% of the stock is 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.