What is B. Riley’s Forecast for AE FY2024 Earnings?

Adams Resources & Energy, Inc. (NYSE:AE) – Research analysts at B. Riley dropped their FY2024 earnings per share (EPS) estimates for shares of Adams Resources & Energy in a research note issued to investors on Wednesday, November 13th. B. Riley analyst L. Burke now expects that the company will post earnings of ($2.65) per share for the year, down from their prior forecast of ($1.59). B. Riley has a “Neutral” rating and a $38.00 price target 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 announced its quarterly earnings results on Tuesday, November 12th. The company reported ($1.76) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($1.20). The business had revenue of $695.16 million for the quarter, compared to the consensus estimate of $649.00 million. Adams Resources & Energy had a negative net margin of 0.29% and a negative return on equity of 8.00%.

Adams Resources & Energy Stock Up 0.1 %

Shares of NYSE:AE opened at $37.10 on Friday. The stock has a market cap of $95.35 million, a price-to-earnings ratio of -11.73 and a beta of 0.79. The business’s 50 day moving average is $26.64 and its 200 day moving average is $26.31. Adams Resources & Energy has a 12-month low of $22.30 and a 12-month high of $37.90. The company has a quick ratio of 0.97, a current ratio of 1.06 and a debt-to-equity ratio of 0.33.

Institutional Investors Weigh In On Adams Resources & Energy

A number of hedge funds have recently made changes to their positions in AE. Bard Associates Inc. grew its stake in shares of Adams Resources & Energy by 13.1% during the 3rd quarter. Bard Associates Inc. now owns 12,438 shares of the company’s stock worth $336,000 after acquiring an additional 1,443 shares during the period. Empowered Funds LLC boosted its position in Adams Resources & Energy by 8.1% during the first quarter. Empowered Funds LLC now owns 16,344 shares of the company’s stock worth $474,000 after purchasing an additional 1,225 shares during the period. Cerity Partners LLC increased its stake 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 purchasing an additional 10,977 shares in the last quarter. Wittenberg Investment Management Inc. lifted its stake in shares of Adams Resources & Energy by 1.6% during the 3rd quarter. Wittenberg Investment Management Inc. now owns 21,315 shares of the company’s stock valued at $576,000 after buying an additional 339 shares in the last quarter. Finally, Round Hill Asset Management boosted its holdings in Adams Resources & Energy by 71.6% in the 3rd quarter. Round Hill Asset Management now owns 22,979 shares of the company’s stock worth $620,000 after buying an additional 9,587 shares during the period. 57.81% of the stock is currently owned by institutional investors.

Adams Resources & Energy Announces Dividend

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