Wall Street analysts expect that Energy Recovery, Inc. (NASDAQ:ERII) will announce $0.03 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Energy Recovery’s earnings, with the highest EPS estimate coming in at $0.07 and the lowest estimate coming in at ($0.01). Energy Recovery reported earnings per share of $0.01 in the same quarter last year, which would suggest a positive year over year growth rate of 200%. The company is expected to announce its next quarterly earnings results after the market closes on Thursday, May 2nd.
According to Zacks, analysts expect that Energy Recovery will report full-year earnings of $0.26 per share for the current financial year, with EPS estimates ranging from $0.20 to $0.30. For the next fiscal year, analysts forecast that the firm will post earnings of $0.49 per share, with EPS estimates ranging from $0.25 to $0.80. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Energy Recovery.
Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings results on Thursday, March 7th. The industrial products company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. The firm had revenue of $17.71 million during the quarter, compared to analyst estimates of $15.68 million. Energy Recovery had a return on equity of 10.25% and a net margin of 36.99%.
A number of brokerages recently issued reports on ERII. BidaskClub upgraded Energy Recovery from a “sell” rating to a “hold” rating in a report on Wednesday, April 10th. JMP Securities reissued a “buy” rating and issued a $13.00 price objective on shares of Energy Recovery in a research note on Monday, March 11th. ValuEngine raised shares of Energy Recovery from a “hold” rating to a “buy” rating in a research note on Saturday, February 2nd. TheStreet downgraded shares of Energy Recovery from a “b-” rating to a “c+” rating in a research note on Friday, December 28th. Finally, B. Riley reissued a “buy” rating on shares of Energy Recovery in a research note on Friday, December 28th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Energy Recovery has a consensus rating of “Buy” and an average price target of $14.33.
In other news, insider Lenox Sharon E. Smith sold 12,500 shares of the company’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $9.01, for a total transaction of $112,625.00. Following the transaction, the insider now directly owns 24,081 shares of the company’s stock, valued at $216,969.81. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Arve Hanstveit sold 139,042 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $8.50, for a total value of $1,181,857.00. Following the transaction, the director now directly owns 1,134,842 shares in the company, valued at $9,646,157. The disclosure for this sale can be found here. Insiders sold 227,370 shares of company stock valued at $1,959,034 in the last three months. 23.80% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of ERII. Legal & General Group Plc boosted its holdings in Energy Recovery by 44.4% in the fourth quarter. Legal & General Group Plc now owns 7,455 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 2,294 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in shares of Energy Recovery by 262.3% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 9,783 shares of the industrial products company’s stock worth $66,000 after acquiring an additional 7,083 shares in the last quarter. ETF Managers Group LLC boosted its stake in shares of Energy Recovery by 15.8% during the 4th quarter. ETF Managers Group LLC now owns 15,865 shares of the industrial products company’s stock worth $107,000 after acquiring an additional 2,163 shares in the last quarter. Trexquant Investment LP purchased a new stake in shares of Energy Recovery during the 3rd quarter worth about $115,000. Finally, Bank of Montreal Can boosted its stake in shares of Energy Recovery by 6,958.2% during the 4th quarter. Bank of Montreal Can now owns 17,575 shares of the industrial products company’s stock worth $117,000 after acquiring an additional 17,326 shares in the last quarter. 34.43% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ ERII traded down $0.02 during trading hours on Friday, reaching $9.36. The stock had a trading volume of 323 shares, compared to its average volume of 171,336. The company has a debt-to-equity ratio of 0.11, a quick ratio of 4.15 and a current ratio of 4.41. The firm has a market capitalization of $507.55 million, a price-to-earnings ratio of 46.68 and a beta of 4.81. Energy Recovery has a 52-week low of $6.17 and a 52-week high of $10.25.
Energy Recovery Company Profile
Energy Recovery, Inc provides energy solutions to industrial fluid flow markets under the ERI, PX, Pressure Exchanger, PX Pressure Exchanger, AT, AquaBold, VorTeq, MTeq, IsoBoost, and IsoGen names. The company operates through Water, and Oil & Gas segments. It offers pressure exchanger energy recovery devices for water desalination plants; hydraulic turbochargers for low-pressure brackish, high-pressure seawater reverse osmosis systems, and other water treatment applications; and high-pressure and circulation pumps for small- to medium-sized desalination plants.
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