Zacks: Analysts Anticipate Energy Recovery, Inc. (ERII) to Post $0.03 EPS

Equities research analysts forecast that Energy Recovery, Inc. (NASDAQ:ERII) will report earnings of $0.03 per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Energy Recovery’s earnings. The highest EPS estimate is $0.07 and the lowest is ($0.01). Energy Recovery posted earnings of $0.01 per share during the same quarter last year, which would suggest a positive year over year growth rate of 200%. The firm is expected to announce its next quarterly earnings report after the market closes on Thursday, May 2nd.

According to Zacks, analysts expect that Energy Recovery will report full-year earnings of $0.26 per share for the current year, with EPS estimates ranging from $0.20 to $0.30. For the next financial year, analysts anticipate that the company will post earnings of $0.49 per share, with EPS estimates ranging from $0.25 to $0.80. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow Energy Recovery.

Energy Recovery (NASDAQ:ERII) last released its quarterly earnings results on Thursday, March 7th. The industrial products company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. Energy Recovery had a return on equity of 10.25% and a net margin of 36.99%. The firm had revenue of $17.71 million during the quarter, compared to the consensus estimate of $15.68 million.

A number of equities analysts have weighed in on the company. BidaskClub raised Energy Recovery from a “sell” rating to a “hold” rating in a research report on Wednesday, April 10th. JMP Securities reaffirmed a “buy” rating and set a $13.00 price target on shares of Energy Recovery in a research report on Monday, March 11th. ValuEngine raised Energy Recovery from a “hold” rating to a “buy” rating in a research report on Saturday, February 2nd. TheStreet downgraded Energy Recovery from a “b-” rating to a “c+” rating in a research report on Friday, December 28th. Finally, B. Riley reaffirmed a “buy” rating on shares of Energy Recovery in a research report on Friday, December 28th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $14.33.

In other news, VP Rodney Clemente sold 53,036 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $8.85, for a total transaction of $469,368.60. Following the sale, the vice president now owns 69,564 shares in the company, valued at approximately $615,641.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Emily Smith sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $8.00, for a total value of $80,000.00. Following the sale, the vice president now owns 66,776 shares in the company, valued at approximately $534,208. The disclosure for this sale can be found here. In the last quarter, insiders have sold 227,370 shares of company stock worth $1,959,034. Company insiders own 23.80% of the company’s stock.

Several institutional investors have recently made changes to their positions in ERII. Wells Fargo & Company MN grew its holdings in Energy Recovery by 26.2% in the 3rd quarter. Wells Fargo & Company MN now owns 113,529 shares of the industrial products company’s stock valued at $1,016,000 after buying an additional 23,583 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Energy Recovery by 63.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 81,563 shares of the industrial products company’s stock valued at $730,000 after buying an additional 31,658 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Energy Recovery by 5.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 135,969 shares of the industrial products company’s stock valued at $1,217,000 after buying an additional 7,480 shares in the last quarter. BlackRock Inc. grew its holdings in Energy Recovery by 0.9% in the 3rd quarter. BlackRock Inc. now owns 2,479,926 shares of the industrial products company’s stock valued at $22,197,000 after buying an additional 21,746 shares in the last quarter. Finally, Trexquant Investment LP acquired a new position in Energy Recovery in the 3rd quarter valued at $115,000. Institutional investors own 34.43% of the company’s stock.

NASDAQ:ERII traded down $0.02 during trading hours on Friday, reaching $9.36. 323 shares of the stock were exchanged, compared to its average volume of 171,336. Energy Recovery has a twelve month low of $6.17 and a twelve month high of $10.25. The company has a quick ratio of 4.15, a current ratio of 4.41 and a debt-to-equity ratio of 0.11. The company has a market cap of $507.55 million, a P/E ratio of 46.68 and a beta of 4.81.

Energy Recovery Company Profile

Energy Recovery, Inc provides energy solutions to industrial fluid flow markets under the ERI, PX, Pressure Exchanger, PX Pressure Exchanger, AT, AquaBold, VorTeq, MTeq, IsoBoost, and IsoGen names. The company operates through Water, and Oil & Gas segments. It offers pressure exchanger energy recovery devices for water desalination plants; hydraulic turbochargers for low-pressure brackish, high-pressure seawater reverse osmosis systems, and other water treatment applications; and high-pressure and circulation pumps for small- to medium-sized desalination plants.

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