Maxim Group Cuts Emerald (NYSE:EEX) Price Target to $8.00

Emerald (NYSE:EEX) had its price target lowered by Maxim Group from $11.00 to $8.00 in a research report report published on Thursday, Benzinga reports. The firm currently has a buy rating on the stock.

Separately, Rosenblatt Securities dropped their price objective on Emerald from $8.40 to $7.80 and set a “buy” rating on the stock in a research report on Thursday.

Emerald Trading Up 3.6 %

NYSE:EEX opened at $4.08 on Thursday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.34 and a current ratio of 1.27. The firm has a 50-day simple moving average of $4.83 and a 200-day simple moving average of $5.40. Emerald has a one year low of $3.92 and a one year high of $7.05. The firm has a market cap of $828.16 million, a P/E ratio of -7.56 and a beta of 1.39.

Emerald (NYSE:EEX) last posted its earnings results on Wednesday, August 7th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.13. The company had revenue of $86.00 million during the quarter. Emerald had a negative return on equity of 13.26% and a negative net margin of 5.29%.

Emerald Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Monday, November 11th will be given a dividend of $0.015 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.06 dividend on an annualized basis and a yield of 1.47%.

Hedge Funds Weigh In On Emerald

Several institutional investors and hedge funds have recently bought and sold shares of EEX. FFT Wealth Management LLC purchased a new stake in shares of Emerald during the 2nd quarter valued at $532,000. Thrivent Financial for Lutherans increased its position in Emerald by 17.8% during the 2nd quarter. Thrivent Financial for Lutherans now owns 126,479 shares of the company’s stock valued at $719,000 after buying an additional 19,156 shares in the last quarter. Renaissance Technologies LLC raised its stake in Emerald by 9.0% in the second quarter. Renaissance Technologies LLC now owns 195,357 shares of the company’s stock valued at $1,112,000 after buying an additional 16,200 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Emerald in the third quarter valued at about $53,000. Finally, Vanguard Group Inc. boosted its holdings in Emerald by 0.5% in the first quarter. Vanguard Group Inc. now owns 1,113,221 shares of the company’s stock worth $7,581,000 after acquiring an additional 5,184 shares in the last quarter. 14.90% of the stock is owned by hedge funds and other institutional investors.

Emerald Company Profile

Emerald Holding, Inc operates business-to-business (B2B) trade shows in the United States. The company provides B2B trade show franchises; and B2B print publications and digital media products, which provide industry specific business news and information across various sectors. It also offers B2B e-commerce and digital merchandising solutions to manufacturers and retailers through Elastic Suite and Bulletin platforms.