Tomra Systems ASA (OTCMKTS:TMRAY) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Tomra Systems ASA (OTCMKTS:TMRAY) announced its quarterly earnings data on Friday. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.02, Zacks reports.

Tomra Systems ASA Stock Up 1.4%

Shares of TMRAY stock opened at $10.27 on Friday. Tomra Systems ASA has a fifty-two week low of $9.28 and a fifty-two week high of $16.09. The firm’s 50 day moving average price is $10.11 and its two-hundred day moving average price is $11.62.

Wall Street Analyst Weigh In

Separately, Barclays reaffirmed an “overweight” rating on shares of Tomra Systems ASA in a research report on Wednesday, June 17th. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy”.

Tomra Systems ASA Company Profile

Tomra Systems ASA, headquartered in Asker, Norway, is a leading provider of sensor‐based sorting and collection solutions for the recycling, food and mining industries. The company’s core offering centers on reverse vending machines (RVMs) that automate the collection and sorting of used beverage containers in deposit‐return schemes. In addition, Tomra designs and manufactures advanced sorting equipment that employs near‐infrared (NIR), X-ray and laser technologies to separate materials such as plastics, metals, glass and paper, as well as to optimize yield and quality in food processing operations.

Founded in 1972 by brothers Petter and Tore Planke, Tomra pioneered the use of automated collection technology to support environmental sustainability and resource recovery.