Emerge Energy Services LP (EMES) Rating Lowered to Sell at Zacks Investment Research
Emerge Energy Services LP (NYSE:EMES) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Monday.
According to Zacks, “Emerge Energy Services LP is engaged in owning, operation, acquisition and development of energy service assets primarily in the United States. It operates in two business segments: sand and fuel processing and distribution. Emerge Energy Services LP is based in Southlake, Texas. “
EMES has been the topic of several other reports. Seaport Global Securities raised Emerge Energy Services from a “neutral” rating to a “buy” rating and set a $14.00 price objective on the stock in a report on Friday, June 24th. Wunderlich raised their price objective on Emerge Energy Services from $4.00 to $9.00 and gave the company a “hold” rating in a report on Tuesday, June 14th. Finally, DA Davidson lowered Emerge Energy Services from a “buy” rating to an “underperform” rating and set a $5.00 price objective on the stock. in a report on Monday, June 13th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $8.92.
Emerge Energy Services (NYSE:EMES) traded up 3.66% during mid-day trading on Monday, reaching $12.74. The company had a trading volume of 277,342 shares. The stock’s market capitalization is $307.44 million. The stock has a 50 day moving average of $12.52 and a 200 day moving average of $8.88. Emerge Energy Services has a 52 week low of $1.97 and a 52 week high of $14.60.
Emerge Energy Services (NYSE:EMES) last announced its quarterly earnings results on Monday, August 8th. The company reported ($0.95) earnings per share for the quarter, missing the consensus estimate of ($0.92) by $0.03. The company earned $24.83 million during the quarter, compared to the consensus estimate of $25.04 million. During the same period in the prior year, the company posted $0.12 EPS. The company’s quarterly revenue was down 63.6% compared to the same quarter last year. Analysts anticipate that Emerge Energy Services will post ($4.05) earnings per share for the current year.
Several hedge funds have recently modified their holdings of EMES. Royal Bank of Canada raised its stake in shares of Emerge Energy Services by 4.9% in the second quarter. Royal Bank of Canada now owns 13,800 shares of the company’s stock worth $159,000 after buying an additional 650 shares in the last quarter. Stifel Financial Corp raised its position in Emerge Energy Services by 10.8% in the second quarter. Stifel Financial Corp now owns 13,286 shares of the company’s stock worth $153,000 after buying an additional 1,291 shares during the period. Jane Street Group LLC bought a new position in Emerge Energy Services during the second quarter worth $224,000. KCG Holdings Inc. bought a new position in Emerge Energy Services during the second quarter worth $273,000. Finally, JPMorgan Chase & Co. bought a new position in Emerge Energy Services during the second quarter worth $3,894,000.
Emerge Energy Services Company Profile
Emerge Energy Services LP owns, operates, acquires and develops a portfolio of energy service assets. The Company’s segments include Sand segment, Fuel segment and Corporate. The Company’s Sand segment consists of the production and sale of various grades of industrial sand primarily used in the extraction of oil and natural gas, as well as the production of building products and foundry materials.
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