Enviri Co. (NYSE:NVRI - Get Free Report)'s share price dropped 5.6% during trading on Friday after the company announced weaker than expected quarterly earnings. The stock traded as low as $7.19 and last traded at $7.23. Approximately 679,221 shares changed hands during mid-day trading, an increase of 52% from the average daily volume of 447,835 shares. The stock had previously closed at $7.66.
The company reported ($0.01) earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.07). Enviri had a negative return on equity of 0.31% and a negative net margin of 4.27%. The firm had revenue of $573.60 million during the quarter, compared to analyst estimates of $613.63 million. During the same quarter last year, the company posted $0.05 EPS. The company's revenue was down 3.9% on a year-over-year basis.
Analyst Upgrades and Downgrades
Separately, BMO Capital Markets reduced their price target on shares of Enviri from $13.00 to $10.00 and set a "market perform" rating for the company in a research report on Friday.
Check Out Our Latest Report on Enviri
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the business. Innealta Capital LLC purchased a new position in Enviri in the second quarter worth approximately $26,000. CWM LLC raised its stake in Enviri by 137.6% in the second quarter. CWM LLC now owns 4,130 shares of the company's stock valued at $36,000 after buying an additional 2,392 shares in the last quarter. PNC Financial Services Group Inc. purchased a new stake in Enviri during the fourth quarter worth approximately $65,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Enviri during the 1st quarter worth approximately $70,000. Finally, SG Americas Securities LLC purchased a new position in shares of Enviri in the 1st quarter valued at $100,000. 93.43% of the stock is owned by hedge funds and other institutional investors.
Enviri Price Performance
The firm has a market cap of $582.40 million, a price-to-earnings ratio of -6.28 and a beta of 2.19. The stock has a 50-day moving average price of $10.42 and a 200 day moving average price of $9.60. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.32 and a quick ratio of 1.00.
About Enviri
(
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Enviri Corporation provides environmental solutions for industrial and specialty waste streams in the United States and internationally. The company operates through two segments: Harsco Environmental and Clean Earth. The Harsco Environmental segment offers on-site services under long-term contracts for material logistics, product quality improvement, and resource recovery for iron, steel, and metals manufacturing; manufactures and sells industrial abrasives, roofing granules, aluminum dross, and scrap processing systems; and meltshop and furnace services, such as under-vessel cleaning, removal of ladle slag, and general melt shop debris.
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