Wall Street brokerages forecast that Energy Recovery, Inc. (NASDAQ:ERII) will post $34.28 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Energy Recovery’s earnings. The lowest sales estimate is $17.90 million and the highest is $44.25 million. Energy Recovery posted sales of $16.67 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 105.6%. The firm is scheduled to report its next quarterly earnings results on Wednesday, March 14th.

According to Zacks, analysts expect that Energy Recovery will report full-year sales of $34.28 million for the current year, with estimates ranging from $54.90 million to $85.02 million. For the next financial year, analysts forecast that the firm will post sales of $85.94 million per share, with estimates ranging from $58.90 million to $98.15 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Energy Recovery.

Energy Recovery (NASDAQ:ERII) last issued its quarterly earnings data on Wednesday, November 1st. The industrial products company reported $0.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.31). Energy Recovery had a net margin of 7.78% and a return on equity of 5.75%. The company had revenue of $15.08 million during the quarter, compared to the consensus estimate of $14.64 million. During the same period in the previous year, the company earned ($0.01) earnings per share. Energy Recovery’s revenue for the quarter was up 22.9% compared to the same quarter last year.

ERII has been the topic of a number of analyst reports. Jefferies Group reiterated a “buy” rating and set a $17.00 price objective (down from $20.00) on shares of Energy Recovery in a research note on Wednesday, August 9th. FBR & Co set a $16.00 price objective on shares of Energy Recovery and gave the stock a “buy” rating in a research note on Monday, August 28th. JMP Securities initiated coverage on shares of Energy Recovery in a research note on Tuesday, September 5th. They set an “outperform” rating and a $12.00 price objective on the stock. Capital One Financial initiated coverage on shares of Energy Recovery in a research note on Thursday, September 7th. They set an “overweight” rating and a $16.00 price objective on the stock. 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 objective on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $17.00.

Energy Recovery (NASDAQ:ERII) opened at $10.37 on Wednesday. The company has a market cap of $588.47, a PE ratio of 156.86, a P/E/G ratio of 2.22 and a beta of 5.73. Energy Recovery has a one year low of $6.13 and a one year high of $12.73.

In related news, Director Olav Fjell bought 18,000 shares of the company’s stock in a transaction dated Thursday, September 14th. The stock was purchased at an average price of $7.08 per share, with a total value of $127,440.00. Following the completion of the acquisition, the director now owns 18,000 shares of the company’s stock, valued at $127,440. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, VP Andrew B. Stroud, Jr. sold 7,117 shares of the stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $11.00, for a total transaction of $78,287.00. Following the completion of the transaction, the vice president now directly owns 32,398 shares of the company’s stock, valued at approximately $356,378. The disclosure for this sale can be found here. 23.60% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the company. Parametric Portfolio Associates LLC bought a new position in shares of Energy Recovery in the second quarter worth about $117,000. Perigon Wealth Management LLC lifted its holdings in shares of Energy Recovery by 149.7% in the second quarter. Perigon Wealth Management LLC now owns 15,179 shares of the industrial products company’s stock worth $126,000 after acquiring an additional 9,099 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of Energy Recovery in the third quarter worth about $130,000. Boothbay Fund Management LLC bought a new position in shares of Energy Recovery in the third quarter worth about $131,000. Finally, PEAK6 Investments L.P. bought a new position in shares of Energy Recovery in the third quarter worth about $150,000. 33.61% of the stock is owned by hedge funds and other institutional investors.

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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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Earnings History and Estimates for Energy Recovery (NASDAQ:ERII)

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