Analysts Anticipate Energy Recovery, Inc. (NASDAQ:ERII) Will Post Quarterly Sales of $17.70 Million

Wall Street brokerages expect Energy Recovery, Inc. (NASDAQ:ERII) to report sales of $17.70 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Energy Recovery’s earnings, with the highest sales estimate coming in at $18.50 million and the lowest estimate coming in at $16.90 million. Energy Recovery reported sales of $17.71 million during the same quarter last year, which indicates a negative year over year growth rate of 0.1%. The firm is scheduled to report its next quarterly earnings report on Thursday, March 5th.

According to Zacks, analysts expect that Energy Recovery will report full-year sales of $85.12 million for the current fiscal year, with estimates ranging from $84.34 million to $85.90 million. For the next financial year, analysts forecast that the business will post sales of $98.12 million, with estimates ranging from $97.20 million to $99.03 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for 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 Zacks’ consensus estimate of $0.03 by $0.04. Energy Recovery had a net margin of 18.65% and a return on equity of 9.95%. The business had revenue of $24.90 million for the quarter, compared to analysts’ expectations of $22.01 million. During the same quarter in the prior year, the company earned $0.08 earnings per share. The business’s revenue was up 12.2% compared to the same quarter last year.

Several research analysts have recently issued reports on the company. Raymond James initiated coverage on Energy Recovery in a research note on Wednesday, October 23rd. They set an “outperform” rating and a $12.00 price target for the company. BidaskClub raised Energy Recovery from a “strong sell” rating to a “sell” rating in a research note on Monday, November 25th. Zacks Investment Research raised Energy Recovery from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research report on Friday, November 8th. JMP Securities set a $15.00 price target on Energy Recovery and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Evercore ISI reissued a “buy” rating and set a $18.00 price target on shares of Energy Recovery in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. Energy Recovery currently has a consensus rating of “Buy” and a consensus target price of $14.20.

In related news, Director Arve Hanstveit sold 13,605 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $9.22, for a total transaction of $125,438.10. Following the sale, the director now owns 1,109,405 shares of the company’s stock, valued at $10,228,714.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 14,294 shares of company stock worth $131,947 in the last three months. 22.30% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ERII. Marshall Wace LLP bought a new stake in Energy Recovery during the first quarter worth $308,000. 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. SFE Investment Counsel lifted its stake in Energy Recovery by 27.5% during the second quarter. SFE Investment Counsel now owns 19,951 shares of the industrial products company’s stock worth $208,000 after purchasing an additional 4,303 shares during the last quarter. Ibex Investors LLC bought a new stake in Energy Recovery during the second quarter worth $233,000. Finally, KBC Group NV lifted its stake in Energy Recovery by 508.9% during the second quarter. KBC Group NV now owns 313,451 shares of the industrial products company’s stock worth $3,266,000 after purchasing an additional 261,971 shares during the last quarter. Hedge funds and other institutional investors own 35.57% of the company’s stock.

NASDAQ:ERII traded down $0.09 during trading hours on Friday, hitting $8.62. 184,458 shares of the company were exchanged, compared to its average volume of 216,191. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.32 and a quick ratio of 4.01. The company’s 50 day moving average price is $9.25 and its 200-day moving average price is $9.81. The stock has a market capitalization of $477.89 million, a price-to-earnings ratio of 43.10 and a beta of 4.20. Energy Recovery has a 52-week low of $6.17 and a 52-week high of $12.04.

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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