Energy Recovery, Inc. to Post FY2017 Earnings of $0.05 Per Share, Jefferies Group Forecasts (ERII)

Energy Recovery, Inc. (NASDAQ:ERII) – Equities research analysts at Jefferies Group reduced their FY2017 earnings estimates for shares of Energy Recovery in a research report issued on Monday. Jefferies Group analyst L. Alexander now anticipates that the industrial products company will post earnings of $0.05 per share for the year, down from their previous forecast of $0.35. Jefferies Group currently has a “Buy” rating and a $14.00 target price on the stock. Jefferies Group also issued estimates for Energy Recovery’s Q4 2017 earnings at $0.04 EPS, Q1 2018 earnings at $0.03 EPS and FY2019 earnings at $0.70 EPS.

Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.03 EPS for the quarter, missing the 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 analysts’ expectations of $14.64 million. During the same quarter in the prior year, the firm earned ($0.01) earnings per share. The company’s revenue was up 22.9% on a year-over-year basis.

Several other equities analysts have also recently commented on the stock. Seaport Global Securities started coverage on shares of Energy Recovery in a report on Tuesday, October 17th. They set a “buy” rating and a $17.00 price target on the stock. JMP Securities started coverage on shares of Energy Recovery in a research note on Tuesday, September 5th. They issued an “outperform” rating and a $12.00 price objective for the company. Capital One Financial started coverage on shares of Energy Recovery in a research note on Thursday, September 7th. They issued an “overweight” rating and a $16.00 price objective for the company. B. Riley set a $20.00 price objective on shares of Energy Recovery and gave the company a “buy” rating in a research note on Thursday, November 30th. Finally, FBR & Co set a $16.00 price objective on shares of Energy Recovery and gave the company a “buy” rating in a research note on Monday, August 28th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $16.63.

Energy Recovery (ERII) opened at $9.05 on Thursday. Energy Recovery has a fifty-two week low of $6.13 and a fifty-two week high of $11.46. The company has a market cap of $487.18, a price-to-earnings ratio of 129.86, a PEG ratio of 1.84 and a beta of 5.73.

Several institutional investors and hedge funds have recently made changes to their positions in ERII. Parametric Portfolio Associates LLC acquired a new position in shares of Energy Recovery during the second quarter valued at about $117,000. Perigon Wealth Management LLC raised its position in shares of Energy Recovery by 149.7% during the second quarter. Perigon Wealth Management LLC now owns 15,179 shares of the industrial products company’s stock valued at $126,000 after buying an additional 9,099 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of Energy Recovery during the third quarter valued at about $130,000. Boothbay Fund Management LLC acquired a new position in shares of Energy Recovery during the third quarter valued at about $131,000. Finally, PEAK6 Investments L.P. bought a new stake in Energy Recovery in the third quarter valued at about $150,000. 33.58% of the stock is owned by institutional investors and hedge funds.

In other news, VP Andrew B. Stroud, Jr. sold 7,117 shares of the company’s stock in a transaction dated Thursday, November 30th. The shares were 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 owns 32,398 shares of the company’s stock, valued at $356,378. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 23.60% of the stock is currently owned by corporate insiders.

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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.

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

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