Brokerages Expect Energy Recovery, Inc. (ERII) Will Announce Quarterly Sales of $25.95 Million

Wall Street analysts expect that Energy Recovery, Inc. (NASDAQ:ERII) will report sales of $25.95 million for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Energy Recovery’s earnings, with the lowest sales estimate coming in at $15.70 million and the highest estimate coming in at $44.25 million. Energy Recovery posted sales of $16.67 million in the same quarter last year, which would indicate a positive year over year growth rate of 55.7%. The company is expected to announce its next quarterly earnings report on Wednesday, March 14th.

On average, analysts expect that Energy Recovery will report full year sales of $25.95 million for the current fiscal year, with estimates ranging from $54.90 million to $85.02 million. For the next year, analysts anticipate that the company will post sales of $90.25 million per share, with estimates ranging from $58.90 million to $113.70 million. Zacks’ sales averages are an average based on a survey of research firms that cover Energy Recovery.

Energy Recovery (NASDAQ:ERII) last posted 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). 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 for the quarter, compared to analyst estimates of $14.64 million. During the same quarter last year, the company earned ($0.01) EPS. The business’s revenue was up 22.9% compared to the same quarter last year.

Several equities analysts have recently issued reports on the stock. BidaskClub downgraded shares of Energy Recovery from a “buy” rating to a “hold” rating in a report on Tuesday, December 19th. Seaport Global Securities assumed coverage on shares of Energy Recovery in a report on Tuesday, October 17th. They issued a “buy” rating and a $17.00 price target on the stock. B. Riley set a $20.00 price target on shares of Energy Recovery and gave the stock a “buy” rating in a report on Monday, December 18th. Zacks Investment Research upgraded shares of Energy Recovery from a “hold” rating to a “strong-buy” rating and set a $10.00 price target on the stock in a report on Wednesday, January 3rd. Finally, FBR & Co reiterated a “buy” rating on shares of Energy Recovery in a report on Wednesday, October 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the stock. Energy Recovery presently has an average rating of “Buy” and a consensus price target of $15.89.

Energy Recovery (NASDAQ:ERII) traded down $0.05 on Wednesday, hitting $8.69. 315,572 shares of the stock traded hands, compared to its average volume of 480,228. Energy Recovery has a 12-month low of $6.13 and a 12-month high of $11.30. The firm has a market capitalization of $465.74, a P/E ratio of 144.83 and a beta of 5.73.

In other news, Director Hans Peter Michelet sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $8.91, for a total transaction of $445,500.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Andrew B. Stroud, Jr. sold 7,117 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $11.00, for a total transaction of $78,287.00. Following the sale, the vice president now directly owns 32,398 shares in the company, valued at approximately $356,378. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,117 shares of company stock worth $545,787. 23.60% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Heartland Advisors Inc. grew its stake in shares of Energy Recovery by 183.3% during the 3rd quarter. Heartland Advisors Inc. now owns 850,000 shares of the industrial products company’s stock worth $6,715,000 after purchasing an additional 550,000 shares during the period. 683 Capital Management LLC grew its stake in shares of Energy Recovery by 115.3% during the 3rd quarter. 683 Capital Management LLC now owns 700,100 shares of the industrial products company’s stock worth $5,531,000 after purchasing an additional 374,900 shares during the period. State Street Corp grew its stake in shares of Energy Recovery by 8.8% during the 2nd quarter. State Street Corp now owns 604,520 shares of the industrial products company’s stock worth $5,014,000 after purchasing an additional 48,823 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Energy Recovery by 64.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 593,539 shares of the industrial products company’s stock worth $4,920,000 after purchasing an additional 233,625 shares during the period. Finally, Northern Trust Corp grew its stake in shares of Energy Recovery by 10.9% during the 2nd quarter. Northern Trust Corp now owns 449,189 shares of the industrial products company’s stock worth $3,724,000 after purchasing an additional 44,294 shares during the period. 33.58% of the stock is currently owned by institutional investors and hedge funds.

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Energy Recovery Company Profile

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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