-$0.02 EPS Expected for Energy Recovery, Inc. (NASDAQ:ERII) This Quarter

Equities research analysts expect Energy Recovery, Inc. (NASDAQ:ERII) to report earnings per share of ($0.02) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Energy Recovery’s earnings. The highest EPS estimate is $0.00 and the lowest is ($0.03). Energy Recovery reported earnings of $0.03 per share during the same quarter last year, which indicates a negative year over year growth rate of 166.7%. The business is scheduled to issue its next earnings report on Thursday, March 5th.

On average, analysts expect that Energy Recovery will report full-year earnings of $0.18 per share for the current financial year, with EPS estimates ranging from $0.16 to $0.19. For the next year, analysts anticipate that the business will report earnings of $0.22 per share, with EPS estimates ranging from $0.21 to $0.23. Zacks’ EPS calculations are an average based on a survey of analysts that cover Energy Recovery.

Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $0.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.04. The company had revenue of $24.90 million during the quarter, compared to analyst estimates of $22.01 million. Energy Recovery had a net margin of 18.65% and a return on equity of 9.95%. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same period last year, the business earned $0.08 EPS.

Several brokerages have weighed in on ERII. Raymond James began coverage on shares of Energy Recovery in a report on Wednesday, October 23rd. They set an “outperform” rating and a $12.00 price objective for the company. JMP Securities set a $15.00 price objective on shares of Energy Recovery and gave the stock a “buy” rating in a report on Thursday, October 10th. ValuEngine lowered shares of Energy Recovery from a “buy” rating to a “hold” rating in a report on Thursday, November 14th. BidaskClub raised shares of Energy Recovery from a “sell” rating to a “hold” rating in a report on Friday, December 13th. Finally, Zacks Investment Research raised shares of Energy Recovery from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $14.20.

ERII stock traded down $0.13 during mid-day trading on Friday, hitting $10.39. 125,617 shares of the company were exchanged, compared to its average volume of 162,316. The company has a market capitalization of $579.82 million, a PE ratio of 41.56 and a beta of 4.20. The company has a current ratio of 4.32, a quick ratio of 4.01 and a debt-to-equity ratio of 0.09. Energy Recovery has a twelve month low of $7.10 and a twelve month high of $12.04. The firm has a fifty day simple moving average of $9.47 and a 200 day simple moving average of $9.68.

In other news, 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 completion of the transaction, the vice president now directly owns 67,189 shares of the company’s stock, valued at approximately $671,890. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Arve Hanstveit sold 13,605 shares of Energy Recovery stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $9.22, for a total transaction of $125,438.10. Following the completion of the transaction, the director now directly owns 1,109,405 shares of the company’s stock, valued at $10,228,714.10. The disclosure for this sale can be found here. Insiders sold a total of 206,721 shares of company stock valued at $1,817,130 over the last ninety days. Company insiders own 23.80% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. California Public Employees Retirement System lifted its position in Energy Recovery by 13.6% in the 3rd quarter. California Public Employees Retirement System now owns 52,627 shares of the industrial products company’s stock valued at $488,000 after purchasing an additional 6,300 shares during the last quarter. Metropolitan Life Insurance Co NY lifted its position in Energy Recovery by 29.2% in the 3rd 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 during the last quarter. State Street Corp lifted its position in Energy Recovery by 1.7% in the 3rd quarter. State Street Corp now owns 715,974 shares of the industrial products company’s stock valued at $6,633,000 after purchasing an additional 11,777 shares during the last quarter. Wells Fargo & Company MN lifted its position in Energy Recovery by 18.6% in the 2nd 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 during the last quarter. Finally, Morgan Stanley lifted its position in Energy Recovery by 85.2% in the 2nd quarter. Morgan Stanley now owns 278,187 shares of the industrial products company’s stock valued at $2,899,000 after purchasing an additional 127,992 shares during the last quarter. 34.55% of the stock is owned by institutional investors and hedge funds.

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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