Emerald (NYSE:EEX) Given New $7.80 Price Target at Rosenblatt Securities

Emerald (NYSE:EEX) had its price objective cut by equities research analysts at Rosenblatt Securities from $8.40 to $7.80 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Rosenblatt Securities’ target price would indicate a potential upside of 89.78% from the company’s current price.

Emerald Trading Down 11.8 %

Shares of NYSE:EEX opened at $4.11 on Thursday. The business’s 50 day moving average price is $4.90 and its 200-day moving average price is $5.44. Emerald has a 1 year low of $4.00 and a 1 year high of $7.05. The firm has a market capitalization of $837.77 million, a price-to-earnings ratio of -5.48 and a beta of 1.36. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.34 and a quick ratio of 1.34.

Emerald (NYSE:EEX) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.13. Emerald had a net margin of 0.25% and a return on equity of 3.53%. The business had revenue of $86.00 million for the quarter.

Institutional Investors Weigh In On Emerald

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new position in shares of Emerald in the third quarter worth about $53,000. Bank of New York Mellon Corp raised its holdings in Emerald by 5.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 70,486 shares of the company’s stock valued at $401,000 after acquiring an additional 3,950 shares during the last quarter. FFT Wealth Management LLC purchased a new position in Emerald in the 2nd quarter worth approximately $532,000. Thrivent Financial for Lutherans boosted its holdings in shares of Emerald by 17.8% during the 2nd quarter. Thrivent Financial for Lutherans now owns 126,479 shares of the company’s stock worth $719,000 after purchasing an additional 19,156 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Emerald by 9.0% during the 2nd quarter. Renaissance Technologies LLC now owns 195,357 shares of the company’s stock worth $1,112,000 after purchasing an additional 16,200 shares during the last quarter. Institutional investors and hedge funds own 14.90% of the company’s stock.

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.