B. Riley Weighs in on Energy Recovery, Inc.’s Q1 2018 Earnings (ERII)
Energy Recovery, Inc. (NASDAQ:ERII) – Equities research analysts at B. Riley issued their Q1 2018 earnings estimates for Energy Recovery in a research report issued to clients and investors on Wednesday. B. Riley analyst T. Curran anticipates that the industrial products company will earn ($0.02) per share for the quarter. B. Riley has a “Buy” rating and a $20.00 price target on the stock. B. Riley also issued estimates for Energy Recovery’s Q4 2018 earnings at $0.08 EPS.
Several other equities analysts have also recently weighed in on the company. Seaport Global Securities initiated coverage on Energy Recovery in a report on Tuesday, October 17th. They set a “buy” rating and a $17.00 price objective on the stock. JMP Securities assumed coverage on Energy Recovery in a report on Tuesday, September 5th. They set an “outperform” rating and a $12.00 price objective on the stock. Capital One Financial Corporation assumed coverage on Energy Recovery in a research report on Thursday, September 7th. They issued an “overweight” rating and a $16.00 target price on the stock. FBR & Co set a $16.00 target price on Energy Recovery and gave the company a “buy” rating in a research report on Monday, August 28th. Finally, BidaskClub lowered Energy Recovery from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $17.00.
Energy Recovery (NASDAQ ERII) opened at $9.48 on Monday. Energy Recovery has a 1-year low of $6.13 and a 1-year high of $12.73. The firm has a market capitalization of $508.08, a PE ratio of 135.43, a PEG ratio of 1.92 and a beta of 5.60.
Energy Recovery (NASDAQ:ERII) last released its quarterly earnings data on Wednesday, November 1st. The industrial products company reported $0.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.31). Energy Recovery had a net margin of 7.78% and a return on equity of 5.75%. The business had revenue of $15.08 million for the quarter, compared to the consensus estimate of $14.64 million. During the same quarter last year, the firm earned ($0.01) EPS. The company’s revenue for the quarter was up 22.9% on a year-over-year basis.
Large investors have recently bought and sold shares of the business. Tudor Investment Corp ET AL acquired a new position in shares of Energy Recovery during the 1st quarter worth approximately $113,000. Parametric Portfolio Associates LLC acquired a new position in shares of Energy Recovery during the 2nd quarter worth approximately $117,000. Perigon Wealth Management LLC increased its position in shares of Energy Recovery by 149.7% during the 2nd quarter. Perigon Wealth Management LLC now owns 15,179 shares of the industrial products company’s stock worth $126,000 after purchasing an additional 9,099 shares during the last quarter. National Planning Corp increased its position in shares of Energy Recovery by 21.3% during the 2nd quarter. National Planning Corp now owns 18,743 shares of the industrial products company’s stock worth $157,000 after purchasing an additional 3,297 shares during the last quarter. Finally, Voya Investment Management LLC increased its position in shares of Energy Recovery by 21.0% during the 2nd quarter. Voya Investment Management LLC now owns 19,001 shares of the industrial products company’s stock worth $158,000 after purchasing an additional 3,293 shares during the last quarter. 33.74% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Olav Fjell bought 18,000 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The shares were acquired at an average price of $7.08 per share, with a total value of $127,440.00. Following the transaction, the director now owns 18,000 shares in the company, valued at $127,440. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 23.60% of the stock is currently owned by company insiders.
About Energy Recovery
Energy Recovery, Inc is an energy solutions provider to industrial fluid flow markets. The Company’s solutions convert wasted pressure energy into a reusable asset and preserve or eliminate pumping technology in hostile processing environments. Its segments include Water, Oil & Gas, and Corporate. The Water Segment focuses on products sold for use in reverse osmosis water desalination.
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