Brokers Offer Predictions for Energy Recovery, Inc.’s Q2 2019 Earnings (NASDAQ:ERII)

Energy Recovery, Inc. (NASDAQ:ERII) – Seaport Global Securities increased their Q2 2019 earnings per share (EPS) estimates for Energy Recovery in a note issued to investors on Wednesday, June 5th, Zacks Investment Research reports. Seaport Global Securities analyst M. Urban now forecasts that the industrial products company will post earnings per share of $0.06 for the quarter, up from their previous forecast of $0.04. Seaport Global Securities also issued estimates for Energy Recovery’s Q4 2019 earnings at $0.06 EPS and Q3 2020 earnings at $0.09 EPS.

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

A number of other equities research analysts have also recently issued reports on ERII. BidaskClub cut Energy Recovery from a “hold” rating to a “sell” rating in a research note on Monday, June 24th. Zacks Investment Research upgraded Energy Recovery from a “hold” rating to a “strong-buy” rating and set a $11.00 price objective on the stock in a research note on Friday, June 7th. TheStreet upgraded Energy Recovery from a “c+” rating to a “b” rating in a research note on Friday, May 3rd. Finally, JMP Securities reiterated a “buy” rating and set a $13.00 price objective on shares of Energy Recovery in a research note on Monday, March 11th. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $14.67.

Shares of Energy Recovery stock traded up $0.38 on Thursday, reaching $10.42. 459,446 shares of the company were exchanged, compared to its average volume of 159,726. Energy Recovery has a one year low of $6.17 and a one year high of $11.11. The firm has a market cap of $546.97 million, a P/E ratio of 52.10 and a beta of 4.49. The company has a quick ratio of 4.55, a current ratio of 4.85 and a debt-to-equity ratio of 0.10. The firm’s 50-day moving average is $10.00.

In related news, VP Nocair Bensalah sold 32,969 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $11.00, for a total transaction of $362,659.00. Following the transaction, the vice president now directly owns 106,458 shares of the company’s stock, valued at approximately $1,171,038. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Hans Peter Michelet sold 99,014 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $10.73, for a total value of $1,062,420.22. Following the transaction, the director now directly owns 18,365 shares in the company, valued at $197,056.45. The disclosure for this sale can be found here. Insiders have sold a total of 314,580 shares of company stock worth $3,305,352 over the last three months. 23.80% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Legal & General Group Plc grew its holdings in Energy Recovery by 44.4% in the 4th quarter. Legal & General Group Plc now owns 7,455 shares of the industrial products company’s stock valued at $50,000 after buying an additional 2,294 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in Energy Recovery by 53,485.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 7,502 shares of the industrial products company’s stock valued at $65,000 after buying an additional 7,488 shares in the last quarter. Metropolitan Life Insurance Co. NY grew its holdings in Energy Recovery by 262.3% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 9,783 shares of the industrial products company’s stock valued at $66,000 after buying an additional 7,083 shares in the last quarter. ETF Managers Group LLC grew its holdings in Energy Recovery by 15.8% in the 4th quarter. ETF Managers Group LLC now owns 15,865 shares of the industrial products company’s stock valued at $107,000 after buying an additional 2,163 shares in the last quarter. Finally, Bank of Montreal Can grew its holdings in Energy Recovery by 6,958.2% in the 4th quarter. Bank of Montreal Can now owns 17,575 shares of the industrial products company’s stock valued at $117,000 after buying an additional 17,326 shares in the last quarter. 31.98% 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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