Zacks Investment Research Lowers Emerge Energy Services LP (EMES) to Sell
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 subject of a number of other research reports. Seaport Global Securities upgraded shares of Emerge Energy Services from a “neutral” rating to a “buy” rating and set a $14.00 price objective for the company in a research report on Friday, June 24th. DA Davidson restated a “sell” rating on shares of Emerge Energy Services in a research report on Saturday, June 25th. Finally, Wunderlich upped their price objective on shares of Emerge Energy Services from $4.00 to $9.00 and gave the stock a “hold” rating in a research report on Tuesday, June 14th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average 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 trading on Monday, hitting $12.74. 277,342 shares of the stock traded hands. Emerge Energy Services has a 52-week low of $1.97 and a 52-week high of $14.60. The stock’s market cap is $307.44 million. The company’s 50 day moving average price is $12.52 and its 200-day moving average price is $8.88.
Emerge Energy Services (NYSE:EMES) last released its quarterly earnings results on Monday, August 8th. The company reported ($0.95) EPS for the quarter, missing the consensus estimate of ($0.92) by $0.03. The company had revenue of $24.83 million for the quarter, compared to analysts’ expectations of $25.04 million. During the same period last year, the business posted $0.12 EPS. Emerge Energy Services’s revenue was down 63.6% compared to the same quarter last year. Equities research analysts forecast that Emerge Energy Services will post ($4.05) earnings per share for the current fiscal year.
Several institutional investors have recently bought and sold shares of the company. ING Groep NV boosted its position in Emerge Energy Services by 307.7% in the first quarter. ING Groep NV now owns 265,000 shares of the company’s stock worth $1,325,000 after buying an additional 200,000 shares during the period. Royal Bank of Canada boosted its position in 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 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. Finally, KCG Holdings Inc. bought a new position in Emerge Energy Services during the second quarter worth $273,000.
About Emerge Energy Services
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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