Wall Street brokerages expect Energy Recovery, Inc. (NASDAQ:ERII) to report $19.85 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Energy Recovery’s earnings. The lowest sales estimate is $19.00 million and the highest is $20.70 million. Energy Recovery reported sales of $9.58 million during the same quarter last year, which indicates a positive year over year growth rate of 107.2%. The business is expected to announce its next earnings report on Wednesday, November 7th.

According to Zacks, analysts expect that Energy Recovery will report full year sales of $74.27 million for the current fiscal year, with estimates ranging from $73.34 million to $75.20 million. For the next fiscal year, analysts forecast that the business will report sales of $108.10 million per share, with estimates ranging from $103.70 million to $112.50 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover Energy Recovery.

Energy Recovery (NASDAQ:ERII) last issued its earnings results on Thursday, August 2nd. The industrial products company reported $0.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.06. Energy Recovery had a return on equity of 10.72% and a net margin of 46.91%. The company had revenue of $20.80 million during the quarter, compared to the consensus estimate of $16.39 million. During the same quarter in the prior year, the business earned ($0.01) earnings per share. The company’s revenue was up 90.8% compared to the same quarter last year.

Several brokerages have recently weighed in on ERII. B. Riley set a $20.00 target price on Energy Recovery and gave the stock a “buy” rating in a research report on Monday, August 6th. ValuEngine downgraded Energy Recovery from a “buy” rating to a “hold” rating in a research report on Friday, August 3rd. BidaskClub downgraded Energy Recovery from a “hold” rating to a “sell” rating in a research report on Friday, May 4th. Zacks Investment Research raised Energy Recovery from a “sell” rating to a “hold” rating in a research report on Thursday, May 3rd. Finally, TheStreet downgraded Energy Recovery from a “b-” rating to a “c” rating in a research report on Tuesday, May 29th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $15.14.

In related news, Director Hans Peter Michelet sold 101,990 shares of the business’s stock in a transaction dated Monday, June 18th. The stock was sold at an average price of $8.12, for a total value of $828,158.80. Following the transaction, the director now owns 36,152 shares in the company, valued at $293,554.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 23.80% of the company’s stock.

Several large investors have recently added to or reduced their stakes in ERII. Nokomis Capital L.L.C. lifted its stake in shares of Energy Recovery by 33.2% in the first quarter. Nokomis Capital L.L.C. now owns 2,437,326 shares of the industrial products company’s stock worth $20,035,000 after acquiring an additional 607,745 shares in the last quarter. Trigran Investments Inc. acquired a new position in shares of Energy Recovery in the second quarter worth about $2,292,000. BlackRock Inc. lifted its stake in shares of Energy Recovery by 11.9% in the second quarter. BlackRock Inc. now owns 2,458,180 shares of the industrial products company’s stock worth $19,861,000 after acquiring an additional 261,516 shares in the last quarter. SCP Investment LP lifted its stake in shares of Energy Recovery by 316.7% in the first quarter. SCP Investment LP now owns 200,000 shares of the industrial products company’s stock worth $1,644,000 after acquiring an additional 152,000 shares in the last quarter. Finally, Heartland Advisors Inc. lifted its stake in shares of Energy Recovery by 17.6% in the first quarter. Heartland Advisors Inc. now owns 1,000,000 shares of the industrial products company’s stock worth $8,220,000 after acquiring an additional 150,000 shares in the last quarter. Institutional investors and hedge funds own 38.30% of the company’s stock.

Shares of NASDAQ ERII opened at $9.07 on Tuesday. Energy Recovery has a 1-year low of $6.17 and a 1-year high of $11.30. The company has a quick ratio of 4.26, a current ratio of 4.51 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $518.12 million, a PE ratio of 130.43 and a beta of 5.40.

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 worldwide. 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 low and high-pressure reverse osmosis systems.

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