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

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

The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.07). The business had revenue of $573.60 million for the quarter, compared to the consensus estimate of $613.63 million. Enviri had a negative return on equity of 0.31% and a negative net margin of 4.27%. The company’s revenue was down 3.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.05 earnings per share.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Enviri

Several institutional investors have recently modified their holdings of the business. Innealta Capital LLC purchased a new stake in Enviri during the second quarter worth about $26,000. CWM LLC increased its stake in shares of Enviri by 137.6% during the 2nd quarter. CWM LLC now owns 4,130 shares of the company’s stock worth $36,000 after purchasing an additional 2,392 shares during the last quarter. PNC Financial Services Group Inc. bought a new stake in shares of Enviri in the 4th quarter worth approximately $65,000. DekaBank Deutsche Girozentrale purchased a new position in Enviri in the first quarter valued at approximately $70,000. Finally, SG Americas Securities LLC bought a new position in Enviri during the first quarter valued at $100,000. 93.43% of the stock is owned by institutional investors.

Enviri Stock Down 5.1 %

The firm has a market capitalization of $582.40 million, a PE ratio of -6.28 and a beta of 2.19. The stock has a 50-day simple moving average of $10.42 and a 200-day simple moving average of $9.60. The company has a quick ratio of 1.00, a current ratio of 1.32 and a debt-to-equity ratio of 2.68.

Enviri Company Profile

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.