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

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

Tomra Systems ASA Price Performance

OTCMKTS:TMRAY opened at $10.27 on Friday. The business has a 50 day moving average price of $10.11 and a 200-day moving average price of $11.62. Tomra Systems ASA has a fifty-two week low of $9.28 and a fifty-two week high of $16.09.

Analyst Upgrades and Downgrades

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

About Tomra Systems ASA

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.