Energy Recovery, Inc. (ERII) Expected to Post Quarterly Sales of $25.95 Million

Analysts expect Energy Recovery, Inc. (NASDAQ:ERII) to report sales of $25.95 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Energy Recovery’s earnings. The highest sales estimate is $44.25 million and the lowest is $15.70 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 business is scheduled to report its next quarterly earnings results on Wednesday, March 14th.

On average, analysts expect that Energy Recovery will report full year sales of $25.95 million for the current year, with estimates ranging from $54.90 million to $85.02 million. For the next fiscal year, analysts anticipate that the business will report sales of $91.94 million per share, with estimates ranging from $58.90 million to $113.70 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Energy Recovery.

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

Several research analysts have recently issued reports on ERII shares. Seaport Global Securities started coverage on shares of Energy Recovery in a research note on Tuesday, October 17th. They issued a “buy” rating and a $17.00 target price 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 target price on the stock. 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 target price on the stock. B. Riley set a $20.00 target price on shares of Energy Recovery and gave the stock a “buy” rating in a research note on Thursday, November 30th. Finally, FBR & Co set a $16.00 target price on shares of Energy Recovery and gave the stock 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 company. Energy Recovery currently has an average rating of “Buy” and a consensus price target of $16.63.

In related news, VP Andrew B. Stroud, Jr. sold 7,117 shares of the stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $11.00, for a total transaction of $78,287.00. Following the transaction, the vice president now owns 32,398 shares in the company, valued at $356,378. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 23.60% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in ERII. Geode Capital Management LLC increased its holdings in Energy Recovery by 4.7% during the first quarter. Geode Capital Management LLC now owns 278,561 shares of the industrial products company’s stock valued at $2,317,000 after buying an additional 12,408 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Energy Recovery by 6.0% during the first quarter. Schwab Charles Investment Management Inc. now owns 118,471 shares of the industrial products company’s stock valued at $986,000 after buying an additional 6,669 shares during the last quarter. First Trust Advisors LP increased its holdings in Energy Recovery by 52.7% during the second quarter. First Trust Advisors LP now owns 388,821 shares of the industrial products company’s stock valued at $3,223,000 after buying an additional 134,240 shares during the last quarter. Rhumbline Advisers increased its holdings in Energy Recovery by 7.3% during the second quarter. Rhumbline Advisers now owns 40,107 shares of the industrial products company’s stock valued at $332,000 after buying an additional 2,712 shares during the last quarter. Finally, KBC Group NV increased its holdings in Energy Recovery by 3.9% during the second quarter. KBC Group NV now owns 269,471 shares of the industrial products company’s stock valued at $2,234,000 after buying an additional 10,007 shares during the last quarter. 33.58% of the stock is owned by institutional investors and hedge funds.

Energy Recovery (ERII) opened at $8.96 on Friday. The stock has a market cap of $475.44, a P/E ratio of 149.33, a PEG ratio of 4.09 and a beta of 5.72. Energy Recovery has a 52 week low of $6.13 and a 52 week high of $11.46.

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

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