Energy Recovery (ERII) to Release Quarterly Earnings on Wednesday

Energy Recovery (NASDAQ:ERII) is set to issue its quarterly earnings data after the market closes on Wednesday, October 30th. Analysts expect the company to announce earnings of $0.14 per share for the quarter. Energy Recovery has set its FY 2024 guidance at EPS.Investors interested in registering for the company’s conference call can do so using this link.

Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings data on Wednesday, July 31st. The industrial products company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.10. Energy Recovery had a return on equity of 9.88% and a net margin of 15.40%. The company had revenue of $27.20 million for the quarter, compared to analyst estimates of $23.36 million. On average, analysts expect Energy Recovery to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Energy Recovery Trading Down 0.2 %

NASDAQ ERII opened at $17.82 on Monday. The business’s 50 day moving average is $17.16 and its two-hundred day moving average is $15.17. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of 49.50 and a beta of 1.23. Energy Recovery has a 12-month low of $12.26 and a 12-month high of $19.94.

Insider Buying and Selling

In other news, CEO David W. Moon acquired 3,000 shares of Energy Recovery stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average cost of $16.00 per share, with a total value of $48,000.00. Following the completion of the acquisition, the chief executive officer now owns 32,750 shares in the company, valued at $524,000. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 4.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on ERII. StockNews.com raised Energy Recovery from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Raymond James upgraded shares of Energy Recovery from an “outperform” rating to a “strong-buy” rating and set a $21.00 price objective for the company in a research note on Tuesday, July 9th.

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.