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

Energy Recovery, Inc. (NASDAQ:ERII) – Stock analysts at Jefferies Group cut their FY2017 earnings estimates for Energy Recovery in a research note issued to investors on Monday. Jefferies Group analyst L. Alexander now forecasts that the industrial products company will post earnings of $0.05 per share for the year, down from their prior 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.

Other research analysts have also recently issued research reports about the stock. B. Riley reissued a “buy” rating and issued a $20.00 target price (up previously from $16.00) on shares of Energy Recovery in a report on Wednesday, November 1st. BidaskClub lowered shares of Energy Recovery from a “buy” rating to a “hold” rating in a report on Tuesday. JMP Securities assumed coverage on shares of Energy Recovery in a report on Tuesday, September 5th. They issued an “outperform” rating and a $12.00 price objective for the company. 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 objective for the company. Finally, FBR & Co reiterated a “buy” rating on shares of Energy Recovery in a report on Wednesday, October 11th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $16.63.

Energy Recovery (NASDAQ ERII) opened at $9.00 on Thursday. The company has a market cap of $487.18, a PE ratio of 129.86, a PEG ratio of 1.84 and a beta of 5.73. Energy Recovery has a fifty-two week low of $6.13 and a fifty-two week high of $11.67.

Energy Recovery (NASDAQ:ERII) last posted its earnings results on Wednesday, November 1st. The industrial products company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.31). The company 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 firm’s revenue was up 22.9% compared to the same quarter last year. During the same period last year, the company posted ($0.01) EPS.

In other news, VP Andrew B. Stroud, Jr. sold 7,117 shares of the firm’s 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 completion of the sale, the vice president now owns 32,398 shares of the company’s stock, valued at approximately $356,378. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 23.60% of the company’s stock.

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

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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 and Estimates for Energy Recovery (NASDAQ:ERII)

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