Brokers Set Expectations for Energy Recovery FY2024 Earnings

Energy Recovery, Inc. (NASDAQ:ERII - Free Report) - Equities research analysts at Seaport Res Ptn issued their FY2024 earnings estimates for shares of Energy Recovery in a note issued to investors on Thursday, December 5th. Seaport Res Ptn analyst J. Campbell expects that the industrial products company will post earnings of $0.34 per share for the year. Seaport Res Ptn currently has a "Strong-Buy" rating on the stock. The consensus estimate for Energy Recovery's current full-year earnings is $0.39 per share. Seaport Res Ptn also issued estimates for Energy Recovery's Q4 2024 earnings at $0.35 EPS, Q1 2025 earnings at $0.10 EPS, Q2 2025 earnings at $0.14 EPS, Q4 2025 earnings at $0.21 EPS, FY2025 earnings at $0.62 EPS, Q1 2026 earnings at $0.13 EPS, Q2 2026 earnings at $0.18 EPS and FY2026 earnings at $0.81 EPS.

Several other research firms have also recently weighed in on ERII. Evercore ISI reduced their price target on shares of Energy Recovery from $23.00 to $20.00 and set an "outperform" rating for the company in a report on Tuesday, November 19th. Scotiabank began coverage on shares of Energy Recovery in a report on Thursday. They issued a "buy" rating and a $22.00 price target for the company. Fearnley Fonds cut shares of Energy Recovery from a "strong-buy" rating to a "hold" rating in a report on Wednesday, November 6th. Finally, B. Riley cut their price objective on shares of Energy Recovery from $22.00 to $20.00 and set a "buy" rating on the stock in a research report on Tuesday, November 19th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $20.75.

Energy Recovery Stock Performance

ERII stock traded up $0.33 during mid-day trading on Monday, hitting $16.59. 281,940 shares of the company were exchanged, compared to its average volume of 435,918. Energy Recovery has a 1-year low of $12.26 and a 1-year high of $20.27. The firm's 50 day simple moving average is $17.53 and its 200 day simple moving average is $15.90. The firm has a market cap of $960.40 million, a P/E ratio of 48.79 and a beta of 1.18.

Energy Recovery (NASDAQ:ERII - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.01. Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. The company had revenue of $38.60 million during the quarter, compared to the consensus estimate of $37.37 million. During the same period in the prior year, the company earned $0.17 earnings per share. The company's revenue for the quarter was up 4.3% compared to the same quarter last year.

Hedge Funds Weigh In On Energy Recovery

Several institutional investors and hedge funds have recently modified their holdings of ERII. Hantz Financial Services Inc. acquired a new stake in Energy Recovery during the second quarter worth about $26,000. CWM LLC boosted its stake in shares of Energy Recovery by 5,032.5% in the 3rd quarter. CWM LLC now owns 4,260 shares of the industrial products company's stock valued at $74,000 after purchasing an additional 4,177 shares in the last quarter. Pinnacle Associates Ltd. acquired a new stake in shares of Energy Recovery in the 3rd quarter valued at approximately $193,000. AXA S.A. bought a new position in Energy Recovery in the 2nd quarter valued at approximately $149,000. Finally, AQR Capital Management LLC raised its holdings in Energy Recovery by 19.8% in the 2nd quarter. AQR Capital Management LLC now owns 11,998 shares of the industrial products company's stock valued at $159,000 after buying an additional 1,986 shares during the last quarter. 83.58% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP Rodney Clemente sold 6,505 shares of the company's stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $17.98, for a total value of $116,959.90. Following the transaction, the senior vice president now directly owns 133,823 shares in the company, valued at approximately $2,406,137.54. This represents a 4.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David W. Moon sold 2,550 shares of the company's stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $17.97, for a total transaction of $45,823.50. Following the completion of the transaction, the chief executive officer now owns 87,101 shares in the company, valued at $1,565,204.97. This trade represents a 2.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,406 shares of company stock valued at $828,688. 4.10% of the stock is currently owned by corporate insiders.

Energy Recovery Company Profile

Energy Recovery, Inc, together with its subsidiaries, designs, manufactures, and sells energy efficiency technology solutions in the Americas, the Middle East, Africa, Asia, and Europe. The company operates through Water and Emerging Technologies segments. The company offers high and low pressure, and ultra pressure exchangers; AT and LPT hydraulic turbochargers; and high-pressure feed and circulation booster pumps for use in seawater and brackish desalination, and wastewater treatment.