Seaport Res Ptn Weighs in on Energy Recovery FY2024 Earnings

Energy Recovery, Inc. (NASDAQ:ERII) – Seaport Res Ptn issued their FY2024 earnings per share (EPS) 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 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 $0.41 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.

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

Energy Recovery Stock Down 0.9 %

NASDAQ:ERII opened at $16.26 on Monday. The firm has a market capitalization of $941.36 million, a PE ratio of 47.82 and a beta of 1.18. Energy Recovery has a 12-month low of $12.26 and a 12-month high of $20.27. The firm has a 50-day moving average price of $17.55 and a 200 day moving average price of $15.88.

Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $37.37 million. Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. The company’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the company earned $0.17 EPS.

Insiders Place Their Bets

In other news, SVP Rodney Clemente sold 4,207 shares of Energy Recovery stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $20.06, for a total transaction of $84,392.42. Following the completion of the transaction, the senior vice president now directly owns 106,367 shares in the company, valued at approximately $2,133,722.02. The trade was a 3.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO David W. Moon sold 2,550 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $17.97, for a total value of $45,823.50. Following the sale, the chief executive officer now directly owns 87,101 shares of the company’s stock, valued at $1,565,204.97. This represents a 2.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,406 shares of company stock valued at $828,688 in the last 90 days. 4.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Energy Recovery

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