Energy Recovery, Inc. (NASDAQ:ERII) – Analysts at FBR & Co decreased their Q1 2017 earnings per share estimates for shares of Energy Recovery in a research report issued on Monday, according to Zacks Investment Research. FBR & Co analyst T. Curran now anticipates that the industrial products company will post earnings per share of $0.01 for the quarter, down from their previous forecast of $0.31. FBR & Co has a “Outperform” rating and a $16.00 price target on the stock. FBR & Co also issued estimates for Energy Recovery’s Q2 2017 earnings at $0.01 EPS, Q3 2017 earnings at $0.29 EPS and Q4 2017 earnings at $0.33 EPS.
Energy Recovery (NASDAQ:ERII) last released its quarterly earnings data on Wednesday, March 8th. The industrial products company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. The company had revenue of $17.90 million for the quarter, compared to the consensus estimate of $13.15 million. Energy Recovery had a positive return on equity of 3.64% and a negative net margin of 3.60%. The company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the business earned ($0.11) earnings per share. WARNING: “Energy Recovery, Inc. Forecasted to Post Q1 2017 Earnings of $0.01 Per Share (ERII)” was first posted by BBNS and is owned by of BBNS. If you are viewing this report on another domain, it was illegally copied and reposted in violation of U.S. & international copyright & trademark legislation. The correct version of this report can be read at https://baseballnewssource.com/markets/fbr-co-analysts-decrease-earnings-estimates-for-energy-recovery-inc-erii-updated-updated/525436.html.
Several other research firms also recently issued reports on ERII. Zacks Investment Research raised shares of Energy Recovery from a “hold” rating to a “buy” rating and set a $8.75 price target for the company in a research note on Tuesday, March 14th. Evercore ISI reaffirmed an “outperform” rating and set a $20.00 price target on shares of Energy Recovery in a research note on Wednesday, March 15th. Jefferies Group LLC reissued a “buy” rating and set a $20.00 target price on shares of Energy Recovery in a research note on Saturday, March 11th. Finally, Stephens initiated coverage on shares of Energy Recovery in a research note on Wednesday, January 11th. They set a “buy” rating and a $18.00 target price for the company. Six analysts have rated the stock with a buy rating, Energy Recovery currently has an average rating of “Buy” and a consensus target price of $17.29.
Energy Recovery (NASDAQ:ERII) traded up 1.10% during midday trading on Thursday, reaching $8.24. The company’s stock had a trading volume of 231,897 shares. The firm has a market cap of $443.97 million, a P/E ratio of 412.00 and a beta of 4.86. Energy Recovery has a 52 week low of $7.11 and a 52 week high of $16.67. The firm has a 50 day moving average price of $8.12 and a 200-day moving average price of $10.42.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Energy Recovery by 36.3% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 15,385 shares of the industrial products company’s stock worth $159,000 after buying an additional 4,100 shares in the last quarter. Teachers Advisors LLC boosted its position in shares of Energy Recovery by 17.1% in the fourth quarter. Teachers Advisors LLC now owns 63,071 shares of the industrial products company’s stock worth $653,000 after buying an additional 9,209 shares in the last quarter. Quantbot Technologies LP boosted its position in shares of Energy Recovery by 1,201.5% in the third quarter. Quantbot Technologies LP now owns 10,256 shares of the industrial products company’s stock worth $163,000 after buying an additional 9,468 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in shares of Energy Recovery during the third quarter worth about $185,000. Finally, Russell Investments Group Ltd. acquired a new position in shares of Energy Recovery during the fourth quarter worth about $127,000. Hedge funds and other institutional investors own 31.88% of the company’s stock.
In related news, Director Robert Yu Lang Mao purchased 20,000 shares of Energy Recovery stock in a transaction on Tuesday, March 14th. The stock was acquired at an average cost of $7.53 per share, for a total transaction of $150,600.00. Following the completion of the acquisition, the director now owns 142,361 shares of the company’s stock, valued at approximately $1,071,978.33. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 26.70% of the company’s stock.
Energy Recovery Company Profile
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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