Enviri (NYSE:NVRI) Shares Gap Down on Disappointing Earnings

Enviri Co. (NYSE:NVRI)’s share price gapped down before the market opened on Thursday following a dissappointing earnings announcement. The stock had previously closed at $10.04, but opened at $8.60. Enviri shares last traded at $8.05, with a volume of 96,949 shares trading hands.

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 net margin of 4.27% and a negative return on equity of 0.31%. The business had revenue of $573.60 million for the quarter, compared to analyst estimates of $613.63 million. During the same quarter in the prior year, the business earned $0.05 earnings per share. The firm’s quarterly revenue was down 3.9% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Enviri

Institutional investors have recently made changes to their positions in the company. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in Enviri by 1.2% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,330,795 shares of the company’s stock worth $46,005,000 after purchasing an additional 62,298 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Enviri by 6.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,107,266 shares of the company’s stock worth $35,446,000 after buying an additional 249,181 shares in the last quarter. Paradigm Capital Management Inc. NY lifted its position in shares of Enviri by 3.5% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 3,908,400 shares of the company’s stock worth $33,729,000 after buying an additional 132,000 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its stake in shares of Enviri by 11.1% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 3,823,704 shares of the company’s stock worth $32,999,000 after buying an additional 383,395 shares during the last quarter. Finally, Leeward Investments LLC MA grew its holdings in shares of Enviri by 93.5% in the third quarter. Leeward Investments LLC MA now owns 908,912 shares of the company’s stock valued at $9,398,000 after acquiring an additional 439,102 shares in the last quarter. Institutional investors own 93.43% of the company’s stock.

Enviri Stock Down 5.1 %

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

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.