B. Riley Has Negative Forecast for AE FY2024 Earnings

Adams Resources & Energy, Inc. (NYSE:AE) – Equities researchers at B. Riley cut their FY2024 earnings estimates for Adams Resources & Energy in a research note issued to investors on Wednesday, November 13th. B. Riley analyst L. Burke now expects that the company will post earnings of ($2.65) per share for the year, down from their prior estimate of ($1.59). B. Riley has a “Neutral” rating and a $38.00 price target on the stock. The consensus estimate for Adams Resources & Energy’s current full-year earnings is ($1.59) per share. B. Riley also issued estimates for Adams Resources & Energy’s Q4 2024 earnings at $0.17 EPS and FY2025 earnings at $0.47 EPS.

Adams Resources & Energy (NYSE:AE) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($1.76) earnings per share for the quarter, missing the consensus estimate of ($0.56) by ($1.20). Adams Resources & Energy had a negative return on equity of 8.00% and a negative net margin of 0.29%. The business had revenue of $695.16 million during the quarter, compared to analyst estimates of $649.00 million.

Adams Resources & Energy Stock Performance

NYSE:AE opened at $37.10 on Friday. The company has a market cap of $95.35 million, a price-to-earnings ratio of -11.73 and a beta of 0.79. Adams Resources & Energy has a fifty-two week low of $22.30 and a fifty-two week high of $37.90. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.97 and a current ratio of 1.06. The stock has a fifty day moving average price of $26.64 and a 200-day moving average price of $26.31.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Empowered Funds LLC lifted its stake in shares of Adams Resources & Energy by 8.1% in the 1st quarter. Empowered Funds LLC now owns 16,344 shares of the company’s stock valued at $474,000 after acquiring an additional 1,225 shares during the last quarter. Bard Associates Inc. increased its stake in shares of Adams Resources & Energy by 13.1% in the third quarter. Bard Associates Inc. now owns 12,438 shares of the company’s stock valued at $336,000 after buying an additional 1,443 shares during the period. Cerity Partners LLC raised its holdings in Adams Resources & Energy by 117.1% in the 3rd quarter. Cerity Partners LLC now owns 20,350 shares of the company’s stock valued at $549,000 after buying an additional 10,977 shares during the last quarter. Round Hill Asset Management grew its holdings in Adams Resources & Energy by 71.6% during the 3rd quarter. Round Hill Asset Management now owns 22,979 shares of the company’s stock worth $620,000 after acquiring an additional 9,587 shares during the last quarter. Finally, Wittenberg Investment Management Inc. increased its position in Adams Resources & Energy by 1.6% in the 3rd quarter. Wittenberg Investment Management Inc. now owns 21,315 shares of the company’s stock valued at $576,000 after acquiring an additional 339 shares during the period. Institutional investors own 57.81% of the company’s stock.

Adams Resources & Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.24 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.96 dividend on an annualized basis and a yield of 2.59%. Adams Resources & Energy’s dividend payout ratio (DPR) is -30.38%.

About Adams Resources & Energy

Adams Resources & Energy, Inc, through its subsidiaries, primarily engages in the marketing, transportation, terminalling, and storage of crude oil and other related products in the United States. The company operates through four segments: Crude Oil Marketing, Transportation, Pipeline and Storage, and Logistics and Repurposing.