Q3 2017 EPS Estimates for Energy Recovery, Inc. Decreased by Analyst (NASDAQ:ERII)
Energy Recovery, Inc. (NASDAQ:ERII) – Equities researchers at Jefferies Group reduced their Q3 2017 EPS estimates for shares of Energy Recovery in a research note issued on Thursday. Jefferies Group analyst L. Alexander now forecasts that the industrial products company will post earnings of $0.00 per share for the quarter, down from their previous forecast of $0.37. Jefferies Group also issued estimates for Energy Recovery’s Q4 2017 earnings at $0.37 EPS, FY2017 earnings at $0.35 EPS and FY2018 earnings at $0.50 EPS.
Energy Recovery (NASDAQ:ERII) last released its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported ($0.01) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.01). The company had revenue of $12.20 million for the quarter, compared to analyst estimates of $14.99 million. Energy Recovery had a return on equity of 2.43% and a net margin of 3.07%. Energy Recovery’s revenue was down 7.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.01 earnings per share.
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ERII has been the topic of a number of other reports. Zacks Investment Research raised Energy Recovery from a “hold” rating to a “buy” rating and set a $9.50 price objective on the stock in a research note on Monday, May 1st. BidaskClub raised Energy Recovery from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. Energy Recovery presently has a consensus rating of “Buy” and an average price target of $17.42.
Shares of Energy Recovery (NASDAQ:ERII) opened at 6.77 on Monday. The stock’s 50 day moving average price is $7.90 and its 200-day moving average price is $8.38. Energy Recovery has a 52-week low of $6.70 and a 52-week high of $16.67. The firm has a market cap of $362.68 million, a price-to-earnings ratio of 233.45 and a beta of 5.51.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. increased its position in shares of Energy Recovery by 1,532.6% in the first quarter. Goldman Sachs Group Inc. now owns 359,914 shares of the industrial products company’s stock worth $2,994,000 after buying an additional 337,869 shares in the last quarter. Arosa Capital Management LP purchased a new position in Energy Recovery during the first quarter worth $2,080,000. Russell Investments Group Ltd. purchased a new position in Energy Recovery during the fourth quarter worth $127,000. KBC Group NV increased its position in Energy Recovery by 8.5% in the first quarter. KBC Group NV now owns 259,464 shares of the industrial products company’s stock worth $2,159,000 after buying an additional 20,386 shares during the period. Finally, Teza Capital Management LLC purchased a new position in Energy Recovery during the first quarter worth $264,000. 31.86% of the stock is currently owned by institutional investors.
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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