Energy Recovery (ERII) Releases Earnings Results, Misses Expectations By $0.17 EPS

Energy Recovery (NASDAQ:ERII) announced its quarterly earnings data on Wednesday, March 7th. The industrial products company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.17), Bloomberg Earnings reports. Energy Recovery had a return on equity of 5.62% and a net margin of 22.39%. The company had revenue of $22.39 million for the quarter, compared to analyst estimates of $30.59 million. During the same period last year, the firm earned $0.06 earnings per share. The firm’s revenue for the quarter was up 25.0% on a year-over-year basis.

Energy Recovery (ERII) traded down $0.24 during trading hours on Wednesday, reaching $8.51. The company’s stock had a trading volume of 537,249 shares, compared to its average volume of 477,531. Energy Recovery has a 1 year low of $6.13 and a 1 year high of $11.30. The firm has a market capitalization of $459.42, a PE ratio of 24.31 and a beta of 5.34.

A number of equities research analysts recently commented on the company. BidaskClub raised Energy Recovery from a “strong sell” rating to a “sell” rating in a research note on Tuesday. TheStreet raised Energy Recovery from a “c” rating to a “b-” rating in a research note on Thursday, March 8th. ValuEngine raised Energy Recovery from a “sell” rating to a “hold” rating in a research note on Friday, March 9th. B. Riley set a $20.00 price objective on Energy Recovery and gave the stock a “buy” rating in a research note on Thursday, November 30th. Finally, Zacks Investment Research raised Energy Recovery from a “hold” rating to a “strong-buy” rating and set a $10.00 price objective for the company in a research note on Wednesday, January 3rd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $15.63.

In other Energy Recovery news, Director Hans Peter Michelet sold 50,000 shares of the business’s stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $8.91, for a total value of $445,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 23.60% of the stock is currently owned by insiders.

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

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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.

Earnings History for Energy Recovery (NASDAQ:ERII)

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