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. “
Other equities analysts also recently issued reports about the company. Wunderlich raised Emerge Energy Services from a “hold” rating to a “buy” rating and raised their price objective for the company from $12.00 to $15.00 in a research note on Thursday, September 29th. DA Davidson reaffirmed a “sell” rating on shares of Emerge Energy Services in a research note on Saturday, June 25th. Finally, Seaport Global Securities raised Emerge Energy Services from a “neutral” rating to a “buy” rating and set a $14.00 price objective for the company in a research note on Friday, June 24th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Emerge Energy Services currently has a consensus rating of “Hold” and a consensus target price of $8.92.
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Emerge Energy Services (NYSE:EMES) traded up 3.66% during midday trading on Monday, reaching $12.74. The company’s stock had a trading volume of 277,342 shares. The firm’s market cap is $307.44 million. The company has a 50 day moving average price of $12.52 and a 200 day moving average price of $8.88. Emerge Energy Services has a 1-year low of $1.97 and a 1-year high of $14.60.
Emerge Energy Services (NYSE:EMES) last issued its earnings results on Monday, August 8th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.92) by $0.03. The firm earned $24.83 million during the quarter, compared to analyst estimates of $25.04 million. The company’s quarterly revenue was down 63.6% on a year-over-year basis. During the same period last year, the business posted $0.12 earnings per share. On average, equities research analysts expect that Emerge Energy Services will post ($4.05) EPS for the current year.
Large investors have recently made changes to their positions in the stock. Royal Bank of Canada boosted 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 during the period. Stifel Financial Corp boosted its stake in shares of 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 stake in shares of Emerge Energy Services during the second quarter worth approximately $224,000. KCG Holdings Inc. bought a new stake in shares of Emerge Energy Services during the second quarter worth approximately $273,000. Finally, JPMorgan Chase & Co. bought a new stake in shares of Emerge Energy Services during the second quarter worth approximately $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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