Research Analysts Issue Forecasts for Energy Recovery, Inc.’s FY2017 Earnings (ERII)
Energy Recovery, Inc. (NASDAQ:ERII) – Equities research analysts at Seaport Global Securities dropped their FY2017 earnings estimates for shares of Energy Recovery in a report issued on Tuesday. Seaport Global Securities analyst S. Randhawa now expects that the industrial products company will post earnings per share of $0.03 for the year, down from their prior estimate of $0.46. Seaport Global Securities currently has a “Buy” rating and a $17.00 target price on the stock. Seaport Global Securities also issued estimates for Energy Recovery’s Q4 2017 earnings at $0.01 EPS, Q1 2018 earnings at $0.45 EPS and FY2018 earnings at $0.85 EPS.
Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings data on Wednesday, November 1st. The industrial products company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.31). The company had revenue of $15.08 million during the quarter, compared to the consensus estimate of $14.64 million. Energy Recovery had a net margin of 7.78% and a return on equity of 5.75%. Energy Recovery’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same period in the previous year, the business earned ($0.01) earnings per share.
Shares of Energy Recovery (ERII) opened at $9.00 on Thursday. The stock has a market capitalization of $487.18, a P/E ratio of 129.86, a PEG ratio of 1.84 and a beta of 5.73. Energy Recovery has a one year low of $6.13 and a one year high of $11.67.
Hedge funds and other institutional investors have recently modified their holdings of the business. Parametric Portfolio Associates LLC bought a new stake in Energy Recovery during the 2nd quarter valued at $117,000. Perigon Wealth Management LLC raised its position in 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 valued at $126,000 after purchasing an additional 9,099 shares in the last quarter. GSA Capital Partners LLP bought a new stake in Energy Recovery during the 3rd quarter valued at $130,000. Boothbay Fund Management LLC bought a new stake in Energy Recovery during the 3rd quarter valued at $131,000. Finally, PEAK6 Investments L.P. bought a new stake in Energy Recovery during the 3rd quarter valued at $150,000. 33.58% of the stock is owned by institutional investors and hedge funds.
In related news, VP Andrew B. Stroud, Jr. sold 7,117 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $11.00, for a total transaction of $78,287.00. Following the completion of the sale, the vice president now directly owns 32,398 shares of the company’s stock, valued at approximately $356,378. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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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