Enviri (NYSE:NVRI) Stock Rating Lowered by Wall Street Zen

Key Points

• Enviri (NYSE: NVRI) was downgraded from a "hold" rating to a "sell" rating by Wall Street Zen, indicating a negative shift in analyst sentiment.
• The company's recent earnings report showed a loss of $0.22 per share, missing the consensus estimate by $0.11 and reflecting a 7.9% decline in revenue compared to the same quarter last year.
• Institutional investors are actively involved, with hedge funds buying significant stakes, leading to a scenario where 93.43% of the stock is owned by such investors.

Enviri (NYSE:NVRI - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Saturday.

Enviri Stock Up 0.9%

NYSE:NVRI traded up $0.08 during midday trading on Friday, reaching $8.83. The company had a trading volume of 609,475 shares, compared to its average volume of 808,658. The firm has a market capitalization of $711.74 million, a price-to-earnings ratio of -4.50 and a beta of 1.77. The stock's fifty day simple moving average is $8.79 and its 200-day simple moving average is $7.75. Enviri has a 12-month low of $4.72 and a 12-month high of $11.95. The company has a current ratio of 1.19, a quick ratio of 0.88 and a debt-to-equity ratio of 3.55.

Enviri (NYSE:NVRI - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.11). The company had revenue of $562.25 million during the quarter, compared to analysts' expectations of $576.50 million. Enviri had a negative net margin of 7.02% and a negative return on equity of 7.86%. The company's revenue for the quarter was down 7.9% on a year-over-year basis. During the same quarter last year, the business posted $0.02 earnings per share. On average, sell-side analysts anticipate that Enviri will post -0.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Enviri

Several institutional investors have recently added to or reduced their stakes in the stock. Prudential Financial Inc. boosted its stake in shares of Enviri by 4.2% during the 2nd quarter. Prudential Financial Inc. now owns 117,967 shares of the company's stock worth $1,024,000 after acquiring an additional 4,788 shares in the last quarter. American Century Companies Inc. lifted its stake in Enviri by 132.4% in the 2nd quarter. American Century Companies Inc. now owns 70,586 shares of the company's stock valued at $613,000 after buying an additional 40,216 shares in the last quarter. Rhumbline Advisers lifted its stake in Enviri by 0.5% in the 2nd quarter. Rhumbline Advisers now owns 238,076 shares of the company's stock valued at $2,066,000 after buying an additional 1,150 shares in the last quarter. Legal & General Group Plc lifted its stake in Enviri by 3.2% in the 2nd quarter. Legal & General Group Plc now owns 219,907 shares of the company's stock valued at $1,909,000 after buying an additional 6,764 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Enviri by 3.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 73,223 shares of the company's stock valued at $636,000 after buying an additional 2,129 shares in the last quarter. Institutional investors and hedge funds own 93.43% of the company's stock.

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.