Energy Recovery, Inc. (NASDAQ:ERII) Expected to Post Quarterly Sales of $17.70 Million

Equities analysts expect Energy Recovery, Inc. (NASDAQ:ERII) to post $17.70 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Energy Recovery’s earnings. The lowest sales estimate is $16.90 million and the highest is $18.50 million. Energy Recovery reported sales of $17.71 million in the same quarter last year, which indicates a negative year-over-year growth rate of 0.1%. The company is expected to announce its next quarterly earnings report on Thursday, March 5th.

On average, analysts expect that Energy Recovery will report full-year sales of $85.12 million for the current financial year, with estimates ranging from $84.34 million to $85.90 million. For the next year, analysts forecast that the company will post sales of $98.12 million, with estimates ranging from $97.20 million to $99.03 million. Zacks’ sales averages 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 results on Thursday, October 31st. The industrial products company reported $0.07 EPS for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.04. Energy Recovery had a return on equity of 9.95% and a net margin of 18.65%. The company had revenue of $24.90 million for the quarter, compared to analysts’ expectations of $22.01 million. During the same quarter last year, the business earned $0.08 earnings per share. Energy Recovery’s revenue was up 12.2% on a year-over-year basis.

A number of brokerages recently commented on ERII. Zacks Investment Research upgraded Energy Recovery from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research report on Friday, November 8th. ValuEngine cut Energy Recovery from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th. BidaskClub upgraded Energy Recovery from a “sell” rating to a “hold” rating in a research report on Friday, December 13th. Raymond James started coverage on Energy Recovery in a research report on Wednesday, October 23rd. They issued an “outperform” rating and a $12.00 target price on the stock. Finally, JMP Securities set a $15.00 target price on Energy Recovery and gave the company a “buy” rating in a research report on Thursday, October 10th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $14.20.

Shares of NASDAQ ERII traded down $0.13 during mid-day trading on Monday, reaching $10.39. The company had a trading volume of 125,617 shares, compared to its average volume of 162,316. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.01 and a current ratio of 4.32. Energy Recovery has a one year low of $7.10 and a one year high of $12.04. The firm has a market cap of $579.82 million, a price-to-earnings ratio of 41.56 and a beta of 4.20. The business’s 50-day simple moving average is $9.47 and its 200 day simple moving average is $9.68.

In other news, Director Ole Peter Lorentzen sold 150,000 shares of Energy Recovery stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $8.73, for a total transaction of $1,309,500.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Farshad Ghasripoor sold 2,869 shares of Energy Recovery stock in a transaction dated Thursday, January 9th. The shares were sold at an average price of $10.00, for a total value of $28,690.00. Following the sale, the vice president now directly owns 67,189 shares in the company, valued at $671,890. The disclosure for this sale can be found here. In the last quarter, insiders sold 206,721 shares of company stock worth $1,817,130. Company insiders own 23.80% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. FNY Investment Advisers LLC boosted its stake in shares of Energy Recovery by 2,000.0% during the fourth quarter. FNY Investment Advisers LLC now owns 10,500 shares of the industrial products company’s stock valued at $102,000 after purchasing an additional 10,000 shares in the last quarter. Metropolitan Life Insurance Co NY boosted its stake in shares of Energy Recovery by 29.2% during the third quarter. Metropolitan Life Insurance Co NY now owns 12,593 shares of the industrial products company’s stock valued at $117,000 after purchasing an additional 2,843 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Energy Recovery during the second quarter valued at about $147,000. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Energy Recovery by 36.7% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 27,417 shares of the industrial products company’s stock valued at $286,000 after purchasing an additional 7,360 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of Energy Recovery by 18.6% during the second quarter. Wells Fargo & Company MN now owns 28,924 shares of the industrial products company’s stock valued at $301,000 after purchasing an additional 4,542 shares in the last quarter. 34.55% of the stock is currently owned by hedge funds and other institutional investors.

About Energy Recovery

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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