Tomra Systems ASA (OTCMKTS:TMRAY) Posts Earnings Results, Beats Estimates By $0.01 EPS

Tomra Systems ASA (OTCMKTS:TMRAY) announced its earnings results on Friday. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01, Zacks reports. The business had revenue of $470.83 million during the quarter, compared to analysts’ expectations of $434.22 million.

Tomra Systems ASA Stock Performance

Shares of Tomra Systems ASA stock opened at $11.43 on Friday. The business has a 50 day moving average of $10.13 and a 200 day moving average of $11.62. Tomra Systems ASA has a 52 week low of $9.28 and a 52 week high of $16.09.

Analyst Upgrades and Downgrades

Separately, Barclays restated an “overweight” rating on shares of Tomra Systems ASA in a research report on Wednesday, June 17th. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy”.

Tomra Systems ASA Company Profile

Tomra Systems ASA, headquartered in Asker, Norway, is a leading provider of sensor?based sorting and collection solutions for the recycling, food and mining industries. The company’s core offering centers on reverse vending machines (RVMs) that automate the collection and sorting of used beverage containers in deposit?return schemes. In addition, Tomra designs and manufactures advanced sorting equipment that employs near?infrared (NIR), X-ray and laser technologies to separate materials such as plastics, metals, glass and paper, as well as to optimize yield and quality in food processing operations.

Founded in 1972 by brothers Petter and Tore Planke, Tomra pioneered the use of automated collection technology to support environmental sustainability and resource recovery.