Wall Street analysts expect that Energy Recovery, Inc. (NASDAQ:ERII) will report $23.58 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Energy Recovery’s earnings, with the lowest sales estimate coming in at $21.00 million and the highest estimate coming in at $26.16 million. Energy Recovery reported sales of $19.23 million during the same quarter last year, which indicates a positive year-over-year growth rate of 22.6%. The business is scheduled to issue its next quarterly earnings report after the market closes on Thursday, July 30th.
On average, analysts expect that Energy Recovery will report full year sales of $98.27 million for the current fiscal year, with estimates ranging from $97.50 million to $99.04 million. For the next financial year, analysts forecast that the company will post sales of $111.40 million, with estimates ranging from $110.20 million to $112.60 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Energy Recovery.
Energy Recovery (NASDAQ:ERII) last issued its quarterly earnings data on Thursday, April 30th. The industrial products company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.01. Energy Recovery had a return on equity of 5.90% and a net margin of 11.72%. The business had revenue of $19.00 million during the quarter, compared to analyst estimates of $22.04 million.
A number of analysts have commented on ERII shares. BidaskClub raised shares of Energy Recovery from a “sell” rating to a “hold” rating in a research note on Friday, June 5th. Evercore ISI downgraded Energy Recovery to a “hold” rating in a report on Tuesday, March 17th. Zacks Investment Research upgraded Energy Recovery from a “hold” rating to a “buy” rating and set a $8.50 target price on the stock in a report on Tuesday, June 2nd. Finally, B. Riley dropped their target price on Energy Recovery from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Monday, March 23rd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $13.10.
In related news, Director Ole Peter Lorentzen sold 1,500,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $7.52, for a total value of $11,280,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Arve Hanstveit sold 50,000 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $8.03, for a total value of $401,500.00. Following the completion of the transaction, the director now directly owns 999,733 shares of the company’s stock, valued at $8,027,855.99. The disclosure for this sale can be found here. Insiders sold 1,550,463 shares of company stock valued at $11,685,093 over the last three months. 17.40% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of ERII. Bank of Montreal Can grew its stake in Energy Recovery by 44.2% during the fourth quarter. Bank of Montreal Can now owns 5,041 shares of the industrial products company’s stock worth $49,000 after buying an additional 1,546 shares during the last quarter. Citigroup Inc. grew its stake in Energy Recovery by 19.2% during the fourth quarter. Citigroup Inc. now owns 10,108 shares of the industrial products company’s stock worth $99,000 after buying an additional 1,630 shares during the last quarter. UBS Group AG grew its stake in Energy Recovery by 2.6% during the first quarter. UBS Group AG now owns 98,550 shares of the industrial products company’s stock worth $733,000 after buying an additional 2,535 shares during the last quarter. Swiss National Bank grew its stake in Energy Recovery by 4.8% during the fourth quarter. Swiss National Bank now owns 63,100 shares of the industrial products company’s stock worth $618,000 after buying an additional 2,900 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in Energy Recovery by 24.2% during the first quarter. Victory Capital Management Inc. now owns 16,478 shares of the industrial products company’s stock worth $123,000 after buying an additional 3,209 shares during the last quarter. 37.69% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ ERII traded down $0.16 on Monday, reaching $8.35. 567,700 shares of the stock traded hands, compared to its average volume of 247,215. The company has a quick ratio of 3.61, a current ratio of 4.03 and a debt-to-equity ratio of 0.13. Energy Recovery has a 12 month low of $6.11 and a 12 month high of $12.04. The company has a market cap of $464.79 million, a price-to-earnings ratio of 52.19 and a beta of 3.00. The firm’s fifty day simple moving average is $8.12 and its 200 day simple moving average is $8.81.
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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