Seaport Global Securities Comments on Energy Recovery, Inc.’s Q3 2019 Earnings (NASDAQ:ERII)

Energy Recovery, Inc. (NASDAQ:ERII) – Analysts at Seaport Global Securities lifted their Q3 2019 earnings estimates for Energy Recovery in a research report issued to clients and investors on Wednesday, June 5th, Zacks Investment Research reports. Seaport Global Securities analyst M. Urban now expects that the industrial products company will earn $0.07 per share for the quarter, up from their previous estimate of $0.06. Seaport Global Securities also issued estimates for Energy Recovery’s FY2019 earnings at $0.23 EPS, Q2 2020 earnings at $0.06 EPS and FY2020 earnings at $0.27 EPS.

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

Other equities research analysts also recently issued reports about the stock. TheStreet raised shares of Energy Recovery from a “c+” rating to a “b” rating in a research note on Friday, May 3rd. JMP Securities reissued a “buy” rating and set a $13.00 price target on shares of Energy Recovery in a research note on Monday, March 11th. BidaskClub raised shares of Energy Recovery from a “sell” rating to a “hold” rating in a research note on Saturday, March 16th. Finally, Zacks Investment Research raised shares of Energy Recovery from a “hold” rating to a “strong-buy” rating and set a $11.00 price target on the stock in a research note on Friday, June 7th. One analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $14.67.

ERII traded up $0.38 on Friday, reaching $10.42. The company had a trading volume of 459,446 shares, compared to its average volume of 159,726. The business has a 50 day moving average of $10.00. The stock has a market capitalization of $567.67 million, a P/E ratio of 52.10 and a beta of 4.49. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.55 and a current ratio of 4.85. Energy Recovery has a 52-week low of $6.17 and a 52-week high of $11.11.

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Energy Recovery by 1.2% in the third quarter. Vanguard Group Inc. now owns 1,659,431 shares of the industrial products company’s stock worth $14,852,000 after purchasing an additional 19,408 shares during the last quarter. Quantum Capital Management boosted its holdings in Energy Recovery by 82.5% in the fourth quarter. Quantum Capital Management now owns 241,639 shares of the industrial products company’s stock valued at $1,626,000 after acquiring an additional 109,200 shares in the last quarter. ETF Managers Group LLC boosted its holdings in Energy Recovery by 15.8% in the fourth quarter. ETF Managers Group LLC now owns 15,865 shares of the industrial products company’s stock valued at $107,000 after acquiring an additional 2,163 shares in the last quarter. Alambic Investment Management L.P. boosted its holdings in Energy Recovery by 425.0% in the fourth quarter. Alambic Investment Management L.P. now owns 97,222 shares of the industrial products company’s stock valued at $654,000 after acquiring an additional 78,704 shares in the last quarter. Finally, Avenir Corp boosted its holdings in Energy Recovery by 56.1% in the fourth quarter. Avenir Corp now owns 798,095 shares of the industrial products company’s stock valued at $5,371,000 after acquiring an additional 286,899 shares in the last quarter. Hedge funds and other institutional investors own 31.98% of the company’s stock.

In other news, VP Emily Smith sold 7,868 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $10.90, for a total value of $85,761.20. Following the transaction, the vice president now owns 48,773 shares in the company, valued at $531,625.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lenox Sharon E. Smith sold 12,500 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $9.01, for a total transaction of $112,625.00. Following the completion of the transaction, the insider now owns 24,081 shares in the company, valued at approximately $216,969.81. The disclosure for this sale can be found here. Insiders sold 314,580 shares of company stock worth $3,305,352 in the last 90 days. Company insiders own 23.80% 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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