Emerald (NYSE:EEX) Shares Pass Below 50 Day Moving Average – What’s Next?

Shares of Emerald Holding, Inc. (NYSE:EEX) crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $5.02 and traded as low as $5.02. Emerald shares last traded at $5.0390, with a volume of 220,030 shares traded.

Wall Street Analyst Weigh In

EEX has been the topic of several research reports. Weiss Ratings upgraded Emerald from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, June 2nd. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $5.03 price objective (down from $7.70) on shares of Emerald in a research note on Tuesday, May 12th. Finally, Maxim Group cut shares of Emerald from a “buy” rating to a “hold” rating in a report on Monday, May 11th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $5.03.

Emerald Stock Performance

The business has a fifty day simple moving average of $5.02 and a two-hundred day simple moving average of $4.80. 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 company has a market cap of $997.26 million, a PE ratio of -26.52 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 company had revenue of $155.40 million during 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 company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders 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 dividend on an annualized basis and a yield of 1.2%. Emerald’s payout ratio is currently -31.58%.

Institutional Trading of Emerald

Institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. grew its position in shares of Emerald by 127.0% in the 4th quarter. Russell Investments Group Ltd. now owns 6,957 shares of the company’s stock worth $31,000 after buying an additional 3,892 shares during the last quarter. Abel Hall LLC purchased a new stake in Emerald during the first quarter valued at approximately $48,000. Ritholtz Wealth Management purchased a new stake in Emerald during the fourth quarter valued at approximately $67,000. Wells Fargo & Company MN boosted its stake in Emerald by 79.0% in the fourth quarter. Wells Fargo & Company MN now owns 15,308 shares of the company’s stock valued at $68,000 after acquiring an additional 6,756 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in Emerald in the first quarter valued at approximately $116,000. 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.