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

Enviri Co. (NYSE:NVRI) shares gapped down prior to trading on Thursday after the company announced weaker than expected quarterly earnings. 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 traded.

The company reported ($0.01) 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 during the quarter, compared to analyst estimates of $613.63 million. Enviri’s revenue was down 3.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.05 earnings per share.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets decreased their price target on 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 added to or reduced their stakes in NVRI. Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of Enviri by 1.2% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,330,795 shares of the company’s stock valued at $46,005,000 after acquiring an additional 62,298 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Enviri by 6.5% during the second quarter. Dimensional Fund Advisors LP now owns 4,107,266 shares of the company’s stock valued at $35,446,000 after purchasing an additional 249,181 shares during the period. Paradigm Capital Management Inc. NY grew its stake in shares of Enviri by 3.5% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 3,908,400 shares of the company’s stock valued at $33,729,000 after buying an additional 132,000 shares during the period. D. E. Shaw & Co. Inc. increased its position in Enviri by 11.1% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 3,823,704 shares of the company’s stock valued at $32,999,000 after buying an additional 383,395 shares in the last quarter. Finally, Leeward Investments LLC MA raised its stake in Enviri by 93.5% during the 3rd quarter. Leeward Investments LLC MA now owns 908,912 shares of the company’s stock worth $9,398,000 after buying an additional 439,102 shares during the period. 93.43% of the stock is owned by institutional investors and hedge funds.

Enviri Trading Down 5.1 %

The company has a debt-to-equity ratio of 2.68, a current ratio of 1.32 and a quick ratio of 1.00. The firm has a fifty day simple moving average of $10.42 and a 200-day simple moving average of $9.60. The firm has a market cap of $582.40 million, a P/E ratio of -6.28 and a beta of 2.19.

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.