FY2017 EPS Estimates for Energy Recovery, Inc. (ERII) Raised by B. Riley
Energy Recovery, Inc. (NASDAQ:ERII) – Analysts at B. Riley increased their FY2017 earnings estimates for shares of Energy Recovery in a research report issued to clients and investors on Wednesday. B. Riley analyst T. Curran now anticipates that the industrial products company will earn $0.43 per share for the year, up from their previous forecast of $0.37. B. Riley currently has a “Buy” rating and a $20.00 target price on the stock. B. Riley also issued estimates for Energy Recovery’s Q4 2017 earnings at $0.41 EPS, Q2 2018 earnings at $0.37 EPS and Q3 2018 earnings at $0.05 EPS.
Several other research firms have also recently issued reports on ERII. BidaskClub cut shares of Energy Recovery from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. JMP Securities initiated coverage on shares of Energy Recovery in a research report on Tuesday, September 5th. They set an “outperform” rating and a $12.00 price objective for the company. ValuEngine raised shares of Energy Recovery from a “sell” rating to a “hold” rating in a research report on Thursday, November 2nd. FBR & Co reaffirmed a “buy” rating on shares of Energy Recovery in a research report on Wednesday, October 11th. Finally, Seaport Global Securities initiated coverage on shares of Energy Recovery in a research note on Tuesday, October 17th. They set a “buy” rating and a $17.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $17.00.
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Shares of Energy Recovery (NASDAQ ERII) opened at $9.48 on Friday. The stock has a market cap of $512.37, a price-to-earnings ratio of 136.57, a PEG ratio of 1.93 and a beta of 5.60. Energy Recovery has a 1 year low of $6.13 and a 1 year high of $12.73.
Energy Recovery (NASDAQ:ERII) last released its quarterly earnings data on Wednesday, November 1st. The industrial products company reported $0.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.31). The firm had revenue of $15.08 million for the quarter, compared to analysts’ expectations of $14.64 million. Energy Recovery had a return on equity of 5.75% and a net margin of 7.78%. Energy Recovery’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same period last year, the firm posted ($0.01) earnings per share.
A number of large investors have recently made changes to their positions in the stock. Schwab Charles Investment Management Inc. raised its stake in Energy Recovery by 0.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 119,212 shares of the industrial products company’s stock worth $989,000 after acquiring an additional 741 shares in the last quarter. American International Group Inc. increased its stake in Energy Recovery by 7.1% in the first quarter. American International Group Inc. now owns 21,200 shares of the industrial products company’s stock valued at $176,000 after purchasing an additional 1,399 shares during the period. Rhumbline Advisers increased its stake in Energy Recovery by 7.3% in the second quarter. Rhumbline Advisers now owns 40,107 shares of the industrial products company’s stock valued at $332,000 after purchasing an additional 2,712 shares during the period. Teachers Advisors LLC increased its stake in Energy Recovery by 4.4% in the second quarter. Teachers Advisors LLC now owns 68,641 shares of the industrial products company’s stock valued at $569,000 after purchasing an additional 2,887 shares during the period. Finally, Harbour Capital Advisors LLC increased its stake in Energy Recovery by 729.0% in the second quarter. Harbour Capital Advisors LLC now owns 3,316 shares of the industrial products company’s stock valued at $400,000 after purchasing an additional 2,916 shares during the period. Hedge funds and other institutional investors own 33.84% of the company’s stock.
In related news, Director Olav Fjell purchased 18,000 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The shares were purchased at an average cost of $7.08 per share, for a total transaction of $127,440.00. Following the purchase, the director now directly owns 18,000 shares of the company’s stock, valued at $127,440. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 23.60% of the stock is owned by company insiders.
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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