B. Riley Has Negative Estimate for AE FY2024 Earnings

Adams Resources & Energy, Inc. (NYSE:AE) – Analysts at B. Riley decreased their FY2024 EPS estimates for Adams Resources & Energy in a research note issued to investors on Wednesday, November 13th. B. Riley analyst L. Burke now anticipates that the company will earn ($2.65) per share for the year, down from their previous forecast of ($1.59). B. Riley currently has a “Neutral” rating and a $38.00 target price on the stock. The consensus estimate for Adams Resources & Energy’s current full-year earnings is ($1.59) per share. B. Riley also issued estimates for Adams Resources & Energy’s Q4 2024 earnings at $0.17 EPS and FY2025 earnings at $0.47 EPS.

Adams Resources & Energy (NYSE:AE) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($1.76) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.56) by ($1.20). Adams Resources & Energy had a negative net margin of 0.29% and a negative return on equity of 8.14%. The firm had revenue of $695.16 million during the quarter, compared to analysts’ expectations of $649.00 million.

Adams Resources & Energy Trading Down 0.0 %

Shares of NYSE AE opened at $37.07 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 0.17. The stock’s 50 day moving average price is $26.92 and its two-hundred day moving average price is $26.39. Adams Resources & Energy has a 52-week low of $22.30 and a 52-week high of $37.90. The stock has a market capitalization of $95.57 million, a P/E ratio of -11.73 and a beta of 0.79.

Institutional Investors Weigh In On Adams Resources & Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Empowered Funds LLC lifted its position in shares of Adams Resources & Energy by 8.1% during the 1st quarter. Empowered Funds LLC now owns 16,344 shares of the company’s stock valued at $474,000 after acquiring an additional 1,225 shares during the last quarter. Barclays PLC lifted its stake in Adams Resources & Energy by 118.5% during the third quarter. Barclays PLC now owns 1,934 shares of the company’s stock valued at $52,000 after buying an additional 1,049 shares in the last quarter. Cerity Partners LLC boosted its holdings in shares of Adams Resources & Energy by 117.1% in the third quarter. Cerity Partners LLC now owns 20,350 shares of the company’s stock worth $549,000 after buying an additional 10,977 shares during the period. Wittenberg Investment Management Inc. increased its position in shares of Adams Resources & Energy by 1.6% in the third quarter. Wittenberg Investment Management Inc. now owns 21,315 shares of the company’s stock worth $576,000 after acquiring an additional 339 shares in the last quarter. Finally, Round Hill Asset Management raised its holdings in shares of Adams Resources & Energy by 71.6% during the third quarter. Round Hill Asset Management now owns 22,979 shares of the company’s stock valued at $620,000 after acquiring an additional 9,587 shares during the period. 57.81% of the stock is currently owned by institutional investors.

Adams Resources & Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.96 annualized dividend and a dividend yield of 2.59%. Adams Resources & Energy’s dividend payout ratio is presently -30.38%.

About Adams Resources & Energy

Adams Resources & Energy, Inc, through its subsidiaries, primarily engages in the marketing, transportation, terminalling, and storage of crude oil and other related products in the United States. The company operates through four segments: Crude Oil Marketing, Transportation, Pipeline and Storage, and Logistics and Repurposing.