Tomra Systems ASA (OTCMKTS:TMRAY) Announces Earnings Results

Tomra Systems ASA (OTCMKTS:TMRAY) announced its earnings results on Friday. The company reported $0.17 earnings per share (EPS) for the quarter, Zacks reports.

Tomra Systems ASA Stock Down 8.1%

Shares of TMRAY stock opened at $12.92 on Friday. Tomra Systems ASA has a fifty-two week low of $11.36 and a fifty-two week high of $16.94. The stock’s fifty day moving average price is $13.29 and its two-hundred day moving average price is $13.70.

Analyst Ratings Changes

Separately, Nordea Equity Research raised Tomra Systems ASA to a “buy” rating in a research report on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Strong 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.