Seaport Res Ptn Estimates Energy Recovery FY2024 Earnings

Energy Recovery, Inc. (NASDAQ:ERII) – Equities researchers at Seaport Res Ptn issued their FY2024 earnings estimates for Energy Recovery in a report issued on Thursday, December 5th. Seaport Res Ptn analyst J. Campbell forecasts that the industrial products company will earn $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 $0.41 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.

A number of other brokerages also recently weighed in on ERII. Evercore ISI decreased their price target on Energy Recovery from $23.00 to $20.00 and set an “outperform” rating for the company in a report on Tuesday, November 19th. B. Riley decreased their target price on Energy Recovery from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, November 19th. Fearnley Fonds cut Energy Recovery from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, Scotiabank assumed coverage on shares of Energy Recovery in a research note on Thursday. They issued a “buy” rating and a $22.00 price objective for the company. 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. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $20.75.

Energy Recovery Stock Performance

Shares of NASDAQ ERII opened at $16.26 on Monday. Energy Recovery has a 52-week low of $12.26 and a 52-week high of $20.27. The company’s 50 day moving average price is $17.55 and its 200-day moving average price is $15.88. The company has a market capitalization of $941.36 million, a P/E ratio of 47.82 and a beta of 1.18.

Energy Recovery (NASDAQ:ERII) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. The company had revenue of $38.60 million for the quarter, compared to analyst estimates of $37.37 million. Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. Energy Recovery’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.17 earnings per share.

Insider Activity

In other Energy Recovery news, SVP Rodney Clemente sold 19,618 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $20.00, for a total transaction of $392,360.00. Following the completion of the sale, the senior vice president now directly owns 114,205 shares of the company’s stock, valued at approximately $2,284,100. The trade was a 14.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Farshad Ghasripoor sold 10,526 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $17.97, for a total value of $189,152.22. Following the completion of the sale, the chief technology officer now directly owns 126,961 shares of the company’s stock, valued at approximately $2,281,489.17. This trade represents a 7.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,406 shares of company stock worth $828,688 over the last quarter. 4.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Energy Recovery

Institutional investors have recently made changes to their positions in the company. KBC Group NV grew its holdings in shares of Energy Recovery by 14.1% in the third quarter. KBC Group NV now owns 1,238,219 shares of the industrial products company’s stock valued at $21,533,000 after acquiring an additional 153,381 shares in the last quarter. Federated Hermes Inc. bought a new position in Energy Recovery in the 2nd quarter valued at $472,000. Baillie Gifford & Co. purchased a new stake in shares of Energy Recovery during the 3rd quarter valued at $15,237,000. Summit Global Investments bought a new stake in shares of Energy Recovery during the 3rd quarter worth $939,000. Finally, Raymond James & Associates boosted its holdings in shares of Energy Recovery by 15.0% in the 2nd quarter. Raymond James & Associates now owns 409,623 shares of the industrial products company’s stock worth $5,444,000 after buying an additional 53,330 shares during the last quarter. Institutional investors own 83.58% of the company’s stock.

About Energy Recovery

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.