Enviri (NYSE:NVRI) Trading Down 5.6% Following Weak Earnings

Enviri Co. (NYSE:NVRI)’s stock price traded down 5.6% on Friday after the company announced weaker than expected quarterly earnings. The company traded as low as $7.19 and last traded at $7.23. 679,221 shares were traded during mid-day trading, an increase of 52% from the average session volume of 447,835 shares. The stock had previously closed at $7.66.

The company reported ($0.01) earnings per share (EPS) 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 company had revenue of $573.60 million for the quarter, compared to analysts’ expectations of $613.63 million. During the same period last year, the company posted $0.05 EPS. The business’s revenue for the quarter was down 3.9% on a year-over-year basis.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets reduced their price objective on shares of Enviri from $13.00 to $10.00 and set a “market perform” rating for the company in a research note on Friday.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. purchased a new position in Enviri during the fourth quarter worth about $65,000. Diversified Trust Co raised its stake in Enviri by 14.5% in the first quarter. Diversified Trust Co now owns 13,246 shares of the company’s stock valued at $121,000 after purchasing an additional 1,675 shares in the last quarter. Private Advisor Group LLC bought a new stake in Enviri during the first quarter valued at approximately $472,000. BNP Paribas Financial Markets grew its stake in Enviri by 204.0% in the 1st quarter. BNP Paribas Financial Markets now owns 68,181 shares of the company’s stock worth $624,000 after buying an additional 45,750 shares in the last quarter. Finally, Central Pacific Bank Trust Division bought a new position in shares of Enviri in the 1st quarter worth $307,000. Institutional investors own 93.43% of the company’s stock.

Enviri Stock Performance

The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.00 and a current ratio of 1.32. The stock has a market cap of $582.40 million, a PE ratio of -6.28 and a beta of 2.19. The company’s 50-day moving average price is $10.42 and its two-hundred day moving average price is $9.60.

About Enviri

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.