Energy Recovery, Inc. Expected to Post Q1 2018 Earnings of ($0.02) Per Share (ERII)
Energy Recovery, Inc. (NASDAQ:ERII) – Research analysts at B. Riley issued their Q1 2018 EPS estimates for Energy Recovery in a note issued to investors on Wednesday. B. Riley analyst T. Curran forecasts that the industrial products company will post earnings per share of ($0.02) for the quarter. B. Riley currently has a “Buy” rating and a $20.00 price target on the stock. B. Riley also issued estimates for Energy Recovery’s Q4 2018 earnings at $0.08 EPS.
Energy Recovery (NASDAQ:ERII) last released its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.31). The company had revenue of $15.08 million during the quarter, compared to analysts’ expectations of $14.64 million. Energy Recovery had a net margin of 7.78% and a return on equity of 5.75%. Energy Recovery’s revenue was up 22.9% on a year-over-year basis. During the same period last year, the firm posted ($0.01) earnings per share.
A number of other research firms also recently issued reports on ERII. Seaport Global Securities assumed coverage on shares of Energy Recovery in a research note on Tuesday, October 17th. They issued a “buy” rating and a $17.00 price target on the stock. FBR & Co reissued a “buy” rating on shares of Energy Recovery in a research note on Wednesday, October 11th. BidaskClub downgraded shares of Energy Recovery from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Capital One Financial Corporation assumed coverage on shares of Energy Recovery in a research note on Thursday, September 7th. They issued an “overweight” rating and a $16.00 price target on the stock. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $17.00 price target (down from $20.00) on shares of Energy Recovery in a research note on Wednesday, August 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $17.00.
Shares of Energy Recovery (ERII) opened at $9.54 on Monday. The stock has a market cap of $508.08, a P/E ratio of 135.43, a PEG ratio of 1.92 and a beta of 5.60. Energy Recovery has a 52 week low of $6.13 and a 52 week high of $12.73.
In other Energy Recovery news, Director Olav Fjell bought 18,000 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The shares were purchased at an average cost of $7.08 per share, with a total value of $127,440.00. Following the purchase, the director now directly owns 18,000 shares in the company, valued at $127,440. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 23.60% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in ERII. Tudor Investment Corp ET AL purchased a new stake in Energy Recovery during the 1st quarter worth approximately $113,000. Parametric Portfolio Associates LLC purchased a new stake in Energy Recovery during the 2nd quarter worth approximately $117,000. Perigon Wealth Management LLC increased its stake in Energy Recovery by 149.7% during the 2nd quarter. Perigon Wealth Management LLC now owns 15,179 shares of the industrial products company’s stock worth $126,000 after buying an additional 9,099 shares during the period. National Planning Corp increased its stake in Energy Recovery by 21.3% during the 2nd quarter. National Planning Corp now owns 18,743 shares of the industrial products company’s stock worth $157,000 after buying an additional 3,297 shares during the period. Finally, Voya Investment Management LLC increased its stake in Energy Recovery by 21.0% during the 2nd quarter. Voya Investment Management LLC now owns 19,001 shares of the industrial products company’s stock worth $158,000 after buying an additional 3,293 shares during the period. 33.74% of the stock is currently owned by hedge funds and other institutional investors.
About Energy Recovery
Energy Recovery, Inc is an energy solutions provider to industrial fluid flow markets. The Company’s solutions convert wasted pressure energy into a reusable asset and preserve or eliminate pumping technology in hostile processing environments. Its segments include Water, Oil & Gas, and Corporate. The Water Segment focuses on products sold for use in reverse osmosis water desalination.
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