Zacks: Brokerages Expect Energy Recovery (ERII) Will Announce Quarterly Sales of $13.87 Million

Analysts predict that Energy Recovery (NASDAQ:ERII) will announce $13.87 million in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Energy Recovery’s earnings. The highest sales estimate is $15.20 million and the lowest is $11.60 million. Energy Recovery posted sales of $12.26 million in the same quarter last year, which would indicate a positive year over year growth rate of 13.1%. The firm is scheduled to announce its next earnings report on Wednesday, May 2nd.

According to Zacks, analysts expect that Energy Recovery will report full year sales of $13.87 million for the current fiscal year, with estimates ranging from $54.90 million to $94.20 million. For the next financial year, analysts expect that the firm will report sales of $100.60 million per share, with estimates ranging from $85.00 million to $116.20 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Energy Recovery.

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Energy Recovery (NASDAQ:ERII) last issued its earnings results on Wednesday, March 7th. The industrial products company reported $0.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.17). The business had revenue of $22.39 million for the quarter, compared to the consensus estimate of $30.59 million. Energy Recovery had a return on equity of 5.62% and a net margin of 22.39%. The company’s quarterly revenue was up 25.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.06 earnings per share.

Several research analysts have recently weighed in on ERII shares. Jefferies Group reiterated a “buy” rating and issued a $14.00 price target on shares of Energy Recovery in a report on Wednesday, December 20th. TheStreet raised Energy Recovery from a “c” rating to a “b-” rating in a research note on Thursday, March 8th. ValuEngine lowered Energy Recovery from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. BidaskClub lowered Energy Recovery from a “sell” rating to a “strong sell” rating in a research note on Wednesday, January 31st. Finally, Zacks Investment Research lowered Energy Recovery from a “strong-buy” rating to a “sell” rating in a research note on Monday, January 8th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $15.00.

Several large investors have recently added to or reduced their stakes in ERII. BlackRock Inc. increased its holdings in shares of Energy Recovery by 1.2% during the fourth quarter. BlackRock Inc. now owns 2,204,184 shares of the industrial products company’s stock valued at $19,287,000 after acquiring an additional 26,017 shares in the last quarter. Nokomis Capital L.L.C. lifted its position in shares of Energy Recovery by 28.9% during the fourth quarter. Nokomis Capital L.L.C. now owns 1,829,581 shares of the industrial products company’s stock worth $16,009,000 after purchasing an additional 409,756 shares during the last quarter. Encompass Capital Advisors LLC lifted its position in shares of Energy Recovery by 51.1% during the fourth quarter. Encompass Capital Advisors LLC now owns 1,208,674 shares of the industrial products company’s stock worth $10,576,000 after purchasing an additional 408,674 shares during the last quarter. 683 Capital Management LLC lifted its position in shares of Energy Recovery by 7.1% during the fourth quarter. 683 Capital Management LLC now owns 750,000 shares of the industrial products company’s stock worth $6,563,000 after purchasing an additional 49,900 shares during the last quarter. Finally, State Street Corp lifted its position in shares of Energy Recovery by 8.8% during the second 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 last quarter. 36.07% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:ERII traded down $0.17 during trading hours on Thursday, reaching $8.27. 214,355 shares of the company’s stock were exchanged, compared to its average volume of 467,506. The stock has a market capitalization of $446.46, a price-to-earnings ratio of 118.14 and a beta of 5.31. Energy Recovery has a 12 month low of $6.13 and a 12 month high of $11.30.

Energy Recovery announced that its board has authorized a share repurchase plan on Thursday, March 8th that authorizes the company to buyback $10.00 million in shares. This buyback authorization authorizes the industrial products company to reacquire shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

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Energy Recovery Company Profile

Energy Recovery, Inc provides energy solutions to industrial fluid flow markets under the ERI, PX, Pressure Exchanger, PX Pressure Exchanger, AT, AquaBold, VorTeq, MTeq, IsoBoost, and IsoGen names worldwide. The company operates through Water and Oil & Gas segments. It offers pressure exchanger energy recovery devices for water desalination plants; hydraulic turbochargers for low-pressure brackish, high-pressure seawater reverse osmosis systems, and other water treatment applications; and high-pressure and circulation pumps for low and high-pressure reverse osmosis systems.

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

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