Energy Recovery, Inc. (NASDAQ:ERII) Expected to Announce Quarterly Sales of $22.31 Million

Equities analysts expect Energy Recovery, Inc. (NASDAQ:ERII) to announce $22.31 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Energy Recovery’s earnings. The lowest sales estimate is $21.00 million and the highest is $23.62 million. Energy Recovery posted sales of $17.41 million in the same quarter last year, which would indicate a positive year over year growth rate of 28.1%. The firm is scheduled to issue its next quarterly earnings results on Thursday, August 1st.

On average, analysts expect that Energy Recovery will report full-year sales of $92.90 million for the current financial year, with estimates ranging from $84.00 million to $101.79 million. For the next financial year, analysts expect that the firm will report sales of $124.15 million, with estimates ranging from $90.00 million to $158.30 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that that provide coverage for Energy Recovery.

Energy Recovery (NASDAQ:ERII) last released its 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. Energy Recovery had a return on equity of 11.72% and a net margin of 39.35%. The company had revenue of $19.80 million for the quarter, compared to the consensus estimate of $15.98 million. During the same quarter last year, the business posted ($0.01) EPS. Energy Recovery’s quarterly revenue was up 43.5% compared to the same quarter last year.

A number of research firms have commented on ERII. Zacks Investment Research raised Energy Recovery from a “hold” rating to a “strong-buy” rating and set a $11.00 target price on the stock in a report on Friday, June 7th. BidaskClub downgraded Energy Recovery from a “hold” rating to a “sell” rating in a report on Tuesday, March 26th. TheStreet raised Energy Recovery from a “c+” rating to a “b” rating in a report on Friday, May 3rd. Finally, JMP Securities reaffirmed a “buy” rating and set a $13.00 target price on shares of Energy Recovery in a report on Monday, March 11th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Energy Recovery presently has an average rating of “Buy” and a consensus target price of $14.67.

NASDAQ:ERII opened at $9.91 on Friday. 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. The company has a market cap of $539.89 million, a price-to-earnings ratio of 49.55 and a beta of 4.49.

In related news, VP Emily Smith sold 7,868 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $10.90, for a total value of $85,761.20. Following the sale, the vice president now owns 48,773 shares of the company’s stock, valued at approximately $531,625.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Hans Peter Michelet sold 99,014 shares of the firm’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 completion of the sale, the director now directly owns 18,365 shares in the company, valued at approximately $197,056.45. The disclosure for this sale can be found here. In the last three months, insiders sold 314,580 shares of company stock worth $3,305,352. Company insiders own 23.80% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Trigran Investments Inc. raised its stake in Energy Recovery by 9.4% during the 1st quarter. Trigran Investments Inc. now owns 3,112,303 shares of the industrial products company’s stock valued at $27,170,000 after acquiring an additional 268,501 shares in the last quarter. Vanguard Group Inc. raised its stake in Energy Recovery by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 1,659,431 shares of the industrial products company’s stock valued at $14,852,000 after acquiring an additional 19,408 shares in the last quarter. Avenir Corp raised its stake in Energy Recovery by 56.1% during the 4th 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. First Trust Advisors LP raised its stake in Energy Recovery by 23.3% during the 1st quarter. First Trust Advisors LP now owns 533,469 shares of the industrial products company’s stock valued at $4,657,000 after acquiring an additional 100,752 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Energy Recovery by 0.7% during the 4th quarter. Northern Trust Corp now owns 456,306 shares of the industrial products company’s stock valued at $3,070,000 after acquiring an additional 3,041 shares in the last quarter. 31.98% of the stock is currently 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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