Equities Analysts Increase Earnings Estimates for Energy Recovery, Inc. (NASDAQ:ERII)

Equities Analysts Increase Earnings Estimates for Energy Recovery, Inc. (NASDAQ:ERII)

Energy Recovery, Inc. (NASDAQ:ERII) – Equities researchers at Seaport Global Securities increased their Q2 2019 earnings per share (EPS) estimates for shares of Energy Recovery in a research note issued to investors on Wednesday, June 5th, Zacks Investment Research reports. Seaport Global Securities analyst M. Urban now anticipates that the industrial products company will earn $0.06 per share for the quarter, up from their prior forecast of $0.04. Seaport Global Securities also issued estimates for Energy Recovery’s Q4 2019 earnings at $0.06 EPS and Q3 2020 earnings at $0.09 EPS.

Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.02. Energy Recovery had a return on equity of 11.72% and a net margin of 39.35%. The company had revenue of $19.80 million for the quarter, compared to the consensus estimate of $15.98 million. During the same quarter in the prior year, the business posted ($0.01) EPS. The firm’s quarterly revenue was up 43.5% on a year-over-year basis.

A number of other equities analysts have also recently commented on ERII. JMP Securities reiterated a “buy” rating and set a $13.00 price target on shares of Energy Recovery in a report on Monday, March 11th. BidaskClub upgraded Energy Recovery from a “sell” rating to a “hold” rating in a report on Saturday, March 16th. TheStreet upgraded Energy Recovery from a “c+” rating to a “b” rating in a report on Friday, May 3rd. Finally, Zacks Investment Research upgraded Energy Recovery from a “hold” rating to a “strong-buy” rating and set a $11.00 price target for the company in a report on Friday, June 7th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Energy Recovery has a consensus rating of “Buy” and a consensus price target of $14.67.

Shares of NASDAQ ERII traded down $0.17 during mid-day trading on Thursday, hitting $9.91. The company had a trading volume of 177,274 shares, compared to its average volume of 204,227. Energy Recovery has a one year low of $6.17 and a one year high of $11.11. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.85 and a quick ratio of 4.55. The stock has a market capitalization of $549.16 million, a price-to-earnings ratio of 49.55 and a beta of 4.49.

A number of institutional investors and hedge funds have recently modified their holdings of the business. ETF Managers Group LLC raised its holdings in shares of Energy Recovery by 9.8% during the first quarter. ETF Managers Group LLC now owns 17,413 shares of the industrial products company’s stock valued at $152,000 after purchasing an additional 1,548 shares during the period. Legal & General Group Plc grew its position in shares of Energy Recovery by 44.4% during the 4th quarter. Legal & General Group Plc now owns 7,455 shares of the industrial products company’s stock valued at $50,000 after acquiring an additional 2,294 shares during the period. Northern Trust Corp grew its position in shares of Energy Recovery by 0.7% during the 4th quarter. Northern Trust Corp now owns 456,306 shares of the industrial products company’s stock valued at $3,070,000 after acquiring an additional 3,041 shares during the period. Cadence Capital Management LLC boosted its holdings in Energy Recovery by 1.8% in the 1st quarter. Cadence Capital Management LLC now owns 369,126 shares of the industrial products company’s stock worth $3,222,000 after buying an additional 6,548 shares during the period. Finally, Metropolitan Life Insurance Co. NY boosted its holdings in Energy Recovery by 262.3% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 9,783 shares of the industrial products company’s stock worth $66,000 after buying an additional 7,083 shares during the period. 31.98% of the stock is currently owned by institutional investors and hedge funds.

In other Energy Recovery news, insider Lenox Sharon E. Smith sold 12,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $9.01, for a total transaction of $112,625.00. Following the completion of the transaction, the insider now directly owns 24,081 shares in the company, valued at $216,969.81. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Emily Smith sold 7,868 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $10.90, for a total transaction of $85,761.20. Following the completion of the sale, the vice president now directly owns 48,773 shares in the company, valued at approximately $531,625.70. The disclosure for this sale can be found here. Insiders have sold 314,580 shares of company stock valued at $3,305,352 over the last 90 days. Company insiders own 23.80% of the company’s stock.

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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