Tomra Systems ASA (OTCMKTS:TMRAY) Issues Quarterly Earnings Results

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

Tomra Systems ASA Stock Performance

Shares of TMRAY stock opened at $10.27 on Friday. The firm has a fifty day simple moving average of $10.11 and a 200-day simple moving average of $11.62. Tomra Systems ASA has a twelve month low of $9.28 and a twelve month high of $16.09.

Analysts Set New Price Targets

Separately, Barclays reaffirmed an “overweight” rating on shares of Tomra Systems ASA in a research report on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to MarketBeat.com, the company currently has a consensus 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.