Goldman Sachs Group Downgrades Emerald Expositions Events (NYSE:EEX) to Neutral

Emerald Expositions Events (NYSE:EEX) was downgraded by equities research analysts at Goldman Sachs Group from a “buy” rating to a “neutral” rating in a research note issued to investors on Monday, June 3rd, MarketBeat reports. They presently have a $14.16 target price on the stock, down from their previous target price of $15.16. Goldman Sachs Group’s target price would suggest a potential upside of 27.00% from the stock’s previous close.

Several other research analysts have also weighed in on EEX. TheStreet upgraded shares of Emerald Expositions Events from a “d” rating to a “c-” rating in a research note on Wednesday, May 8th. Zacks Investment Research lowered shares of Emerald Expositions Events from a “buy” rating to a “sell” rating in a research note on Monday, May 6th. Finally, ValuEngine lowered shares of Emerald Expositions Events from a “sell” rating to a “strong sell” rating in a research note on Friday, May 3rd. Four analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Emerald Expositions Events presently has an average rating of “Hold” and an average target price of $14.27.

EEX stock traded up $0.10 on Monday, hitting $11.15. 301,899 shares of the company’s stock traded hands, compared to its average volume of 132,634. Emerald Expositions Events has a 1-year low of $10.67 and a 1-year high of $20.98. The firm has a market cap of $782.45 million, a PE ratio of 8.38, a price-to-earnings-growth ratio of 1.20 and a beta of 0.71. The stock’s fifty day moving average is $11.91. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.46 and a current ratio of 0.46.

Emerald Expositions Events (NYSE:EEX) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.53 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by ($0.05). The firm had revenue of $137.40 million during the quarter, compared to analysts’ expectations of $141.44 million. Emerald Expositions Events had a negative net margin of 9.76% and a positive return on equity of 11.55%. The firm’s revenue was down 3.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.66 EPS. On average, equities analysts expect that Emerald Expositions Events will post 1.04 EPS for the current year.

In other news, insider Darrell C. Denny sold 58,455 shares of the stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $12.91, for a total transaction of $754,654.05. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Karalynn Sprouse sold 35,000 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $13.35, for a total transaction of $467,250.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 103,307 shares of company stock worth $1,344,463. 3.20% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Gamco Investors INC. ET AL boosted its holdings in shares of Emerald Expositions Events by 5.5% during the 1st quarter. Gamco Investors INC. ET AL now owns 19,024 shares of the company’s stock worth $242,000 after buying an additional 1,000 shares during the period. New York State Teachers Retirement System bought a new stake in shares of Emerald Expositions Events during the 4th quarter worth $27,000. Citigroup Inc. boosted its holdings in shares of Emerald Expositions Events by 45.4% during the 4th quarter. Citigroup Inc. now owns 9,922 shares of the company’s stock worth $122,000 after buying an additional 3,096 shares during the period. Teachers Advisors LLC boosted its holdings in shares of Emerald Expositions Events by 9.0% during the 3rd quarter. Teachers Advisors LLC now owns 45,603 shares of the company’s stock worth $752,000 after buying an additional 3,771 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its holdings in shares of Emerald Expositions Events by 269.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 5,757 shares of the company’s stock worth $73,000 after buying an additional 4,197 shares during the period. 35.60% of the stock is owned by institutional investors and hedge funds.

About Emerald Expositions Events

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, such as photography, food, healthcare, industrials, and military.

Further Reading: Are sell-side analysts objective?

Analyst Recommendations for Emerald Expositions Events (NYSE:EEX)

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