Enviri (NYSE:NVRI) Trading Down 5.6% on Disappointing Earnings

Enviri Co. (NYSE:NVRIGet Free Report) shares were down 5.6% during trading on Friday following a weaker than expected earnings announcement. The company traded as low as $7.19 and last traded at $7.23. Approximately 679,221 shares changed hands during 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) 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 firm had revenue of $573.60 million during the quarter, compared to analysts’ expectations of $613.63 million. During the same period last year, the company earned $0.05 earnings per share. The business’s revenue for the quarter was down 3.9% on a year-over-year basis.

Analyst Upgrades and Downgrades

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

Check Out Our Latest Research Report on NVRI

Hedge Funds Weigh In On Enviri

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

Enviri Stock Performance

The business has a 50-day simple moving average of $10.42 and a 200-day simple moving average of $9.60. The firm has a market capitalization of $579.20 million, a PE ratio of -6.28 and a beta of 2.19. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.32 and a quick ratio of 1.00.

Enviri Company Profile

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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.

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