Zacks: Brokerages Expect Energy Recovery, Inc. (NASDAQ:ERII) Will Post Earnings of $0.06 Per Share

Equities analysts forecast that Energy Recovery, Inc. (NASDAQ:ERII) will post earnings of $0.06 per share for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Energy Recovery’s earnings. The highest EPS estimate is $0.06 and the lowest is $0.05. Energy Recovery posted earnings of $0.07 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 14.3%. The company is scheduled to report its next earnings report after the market closes on Thursday, August 1st.

On average, analysts expect that Energy Recovery will report full year earnings of $0.23 per share for the current year. For the next fiscal year, analysts forecast that the business will post earnings of $0.54 per share, with EPS estimates ranging from $0.27 to $0.80. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow Energy Recovery.

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

A number of equities research analysts recently commented on the stock. BidaskClub raised shares of Misonix from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 3rd. TheStreet cut shares of Viewray from a “c-” rating to a “d” rating in a report on Friday, May 3rd. B. Riley set a $82.00 price target on shares of Consolidated-Tomoka Land and gave the stock a “buy” rating in a report on Monday. Zacks Investment Research cut shares of Home Bancshares from a “hold” rating to a “sell” rating in a report on Friday, June 7th. Finally, ValuEngine cut shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $13.00.

Shares of NASDAQ:ERII traded down $0.19 during mid-day trading on Friday, reaching $11.45. The company had a trading volume of 4,645 shares, compared to its average volume of 192,590. The company has a current ratio of 4.85, a quick ratio of 4.55 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $639.03 million, a price-to-earnings ratio of 57.25 and a beta of 4.33. The company has a 50-day simple moving average of $10.17. Energy Recovery has a one year low of $6.17 and a one year high of $12.04.

In related news, VP Nocair Bensalah sold 32,969 shares of Energy Recovery stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $11.00, for a total value of $362,659.00. Following the completion of the transaction, the vice president now owns 106,458 shares in the company, valued at $1,171,038. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Hans Peter Michelet sold 10,000 shares of Energy Recovery stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $10.06, for a total transaction of $100,600.00. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $150,900. The disclosure for this sale can be found here. Insiders have sold a total of 302,017 shares of company stock worth $3,192,405 in the last three months. Insiders own 23.80% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Trigran Investments Inc. lifted its stake in Energy Recovery by 9.4% during the first quarter. Trigran Investments Inc. now owns 3,112,303 shares of the industrial products company’s stock worth $27,170,000 after purchasing an additional 268,501 shares during the last quarter. First Trust Advisors LP lifted its stake in Energy Recovery by 23.3% during the first quarter. First Trust Advisors LP now owns 533,469 shares of the industrial products company’s stock worth $4,657,000 after purchasing an additional 100,752 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Energy Recovery by 36.8% in the fourth quarter. Bank of New York Mellon Corp now owns 185,978 shares of the industrial products company’s stock valued at $1,251,000 after buying an additional 50,009 shares during the last quarter. Marshall Wace LLP bought a new stake in Energy Recovery in the first quarter valued at $308,000. Finally, Geode Capital Management LLC lifted its stake in Energy Recovery by 5.9% in the fourth quarter. Geode Capital Management LLC now owns 386,026 shares of the industrial products company’s stock valued at $2,597,000 after buying an additional 21,560 shares during the last quarter. Institutional investors own 31.98% 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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Earnings History and Estimates for Energy Recovery (NASDAQ:ERII)

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