Emerald (NYSE:EEX) Posts Quarterly Earnings Results, Misses Estimates By $0.07 EPS

Key Points

• Emerald missed quarterly earnings expectations, reporting $0.04 EPS versus the $0.11 consensus estimate, a shortfall of $0.07 per share.
• The company continues to show profitability pressure, with a negative net margin of 6.62% and a negative return on equity of 8.24%.
• Despite the earnings miss, EEX shares rose to $5.00 in mid-day trading, and the company also maintained a quarterly dividend of $0.015 per share, yielding about 1.2% annualized.

Emerald (NYSE:EEX - Get Free Report) announced its earnings results on Monday. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.07), Zacks reports. Emerald had a negative return on equity of 8.24% and a negative net margin of 6.62%.

Emerald Price Performance

NYSE EEX traded up $0.43 during mid-day trading on Monday, hitting $5.00. The stock had a trading volume of 2,253,655 shares, compared to its average volume of 56,997. The firm's 50 day moving average is $4.55 and its 200 day moving average is $4.45. Emerald has a twelve month low of $3.32 and a twelve month high of $5.45. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market capitalization of $988.56 million, a price-to-earnings ratio of -33.30 and a beta of 0.55.

Emerald Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 2nd. Investors of record on Monday, March 23rd were paid a $0.015 dividend. This represents a $0.06 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Monday, March 23rd. Emerald's dividend payout ratio is currently -40.00%.

Analysts Set New Price Targets

Separately, Rosenblatt Securities reaffirmed a "buy" rating and set a $7.70 target price on shares of Emerald in a research note on Monday, March 16th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $7.70.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in EEX. Cubist Systematic Strategies LLC acquired a new position in Emerald in the 1st quarter valued at $116,000. XTX Topco Ltd increased its stake in shares of Emerald by 103.7% in the 2nd quarter. XTX Topco Ltd now owns 30,127 shares of the company's stock worth $146,000 after acquiring an additional 15,339 shares during the last quarter. Jane Street Group LLC increased its stake in shares of Emerald by 18.1% in the 2nd quarter. Jane Street Group LLC now owns 33,350 shares of the company's stock worth $162,000 after acquiring an additional 5,113 shares during the last quarter. MSD Partners L.P. increased its stake in shares of Emerald by 1.6% in the 2nd quarter. MSD Partners L.P. now owns 1,066,638 shares of the company's stock worth $5,173,000 after acquiring an additional 16,638 shares during the last quarter. Finally, Squarepoint Ops LLC increased its stake in shares of Emerald by 26.0% in the 3rd quarter. Squarepoint Ops LLC now owns 47,364 shares of the company's stock worth $241,000 after acquiring an additional 9,787 shares during the last quarter. 14.90% of the stock is owned by institutional investors and hedge funds.

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.

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