Energy Recovery, Inc. (NASDAQ:ERII) – Equities research analysts at FBR & Co cut their Q2 2017 earnings per share estimates for shares of Energy Recovery in a report released on Monday. FBR & Co analyst T. Curran now anticipates that the industrial products company will earn $0.00 per share for the quarter, down from their prior estimate of $0.01. FBR & Co has a “Outperform” rating and a $16.00 price target on the stock. FBR & Co also issued estimates for Energy Recovery’s Q3 2017 earnings at $0.31 EPS.
Energy Recovery (NASDAQ:ERII) last announced its earnings results on Wednesday, May 3rd. The industrial products company reported ($0.01) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.01 by $0.02. Energy Recovery had a negative net margin of 3.60% and a positive return on equity of 3.64%. The firm had revenue of $12.26 million during the quarter, compared to analyst estimates of $15.15 million.
Other analysts also recently issued reports about the company. Stephens began coverage on Energy Recovery in a research note on Wednesday, January 11th. They issued a “buy” rating and a $18.00 price objective for the company. Zacks Investment Research raised Energy Recovery from a “hold” rating to a “buy” rating and set a $8.75 price objective for the company in a research note on Tuesday, March 14th. Evercore ISI reissued an “outperform” rating and issued a $20.00 price objective on shares of Energy Recovery in a research note on Wednesday, March 15th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $20.00 price objective on shares of Energy Recovery in a research note on Saturday, March 11th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $17.42.
Shares of Energy Recovery (NASDAQ:ERII) opened at 7.65 on Wednesday. The firm has a market cap of $412.56 million, a price-to-earnings ratio of 162.77 and a beta of 4.86. Energy Recovery has a 12 month low of $7.11 and a 12 month high of $16.67. The company has a 50-day moving average price of $8.10 and a 200-day moving average price of $9.80.
Several hedge funds have recently modified their holdings of ERII. Alambic Investment Management L.P. acquired a new stake in shares of Energy Recovery during the first quarter worth approximately $104,000. Russell Investments Group Ltd. acquired a new stake in shares of Energy Recovery during the fourth quarter worth approximately $127,000. Ladenburg Thalmann Financial Services Inc. increased its stake 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 during the last quarter. Parallel Advisors LLC acquired a new stake in shares of Energy Recovery during the fourth quarter worth approximately $180,000. Finally, Stoneridge Investment Partners LLC acquired a new stake in shares of Energy Recovery during the first quarter worth approximately $215,000. 31.88% of the stock is owned by institutional investors.
In other Energy Recovery news, Director Robert Yu Lang Mao purchased 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 14th. The stock was bought at an average cost of $7.53 per share, with a total value of $150,600.00. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 26.70% of the company’s stock.
About Energy Recovery
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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