Q2 2024 EPS Estimates for CECO Environmental Corp. Decreased by Analyst (NASDAQ:CECO)

CECO Environmental Corp. (NASDAQ:CECO) – Equities researchers at HC Wainwright reduced their Q2 2024 EPS estimates for shares of CECO Environmental in a research note issued on Wednesday, May 1st. HC Wainwright analyst A. Dayal now forecasts that the company will earn $0.20 per share for the quarter, down from their prior forecast of $0.22. HC Wainwright has a “Buy” rating and a $30.00 price target on the stock. The consensus estimate for CECO Environmental’s current full-year earnings is $0.96 per share. HC Wainwright also issued estimates for CECO Environmental’s FY2024 earnings at $0.99 EPS.

CECO Environmental (NASDAQ:CECO) last announced its earnings results on Tuesday, April 30th. The company reported $0.11 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.11. CECO Environmental had a net margin of 2.23% and a return on equity of 11.57%. The firm had revenue of $126.30 million during the quarter, compared to analyst estimates of $135.82 million. During the same quarter in the prior year, the firm posted $0.10 EPS. CECO Environmental’s revenue was up 12.2% compared to the same quarter last year.

CECO has been the subject of several other research reports. Roth Mkm raised their price objective on shares of CECO Environmental from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Northland Securities raised their price objective on shares of CECO Environmental from $27.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday, March 6th. Needham & Company LLC raised their price objective on shares of CECO Environmental from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Craig Hallum raised their target price on shares of CECO Environmental from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, CECO Environmental has a consensus rating of “Buy” and a consensus target price of $27.40.

CECO Environmental Stock Performance

NASDAQ:CECO opened at $22.00 on Thursday. CECO Environmental has a twelve month low of $10.68 and a twelve month high of $25.82. The company has a current ratio of 1.38, a quick ratio of 1.22 and a debt-to-equity ratio of 0.53. The company has a 50-day moving average of $22.62 and a 200-day moving average of $20.33. The firm has a market cap of $767.14 million, a price-to-earnings ratio of 62.86, a price-to-earnings-growth ratio of 1.50 and a beta of 1.24.

Insider Activity at CECO Environmental

In other CECO Environmental news, Director Laurie Siegel acquired 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were purchased at an average price of $19.87 per share, with a total value of $49,675.00. Following the completion of the transaction, the director now owns 7,906 shares in the company, valued at $157,092.22. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders own 16.90% of the company’s stock.

Hedge Funds Weigh In On CECO Environmental

A number of institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC raised its position in shares of CECO Environmental by 89.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,641 shares of the company’s stock valued at $94,000 after purchasing an additional 2,195 shares during the period. AJOVista LLC bought a new position in shares of CECO Environmental in the fourth quarter valued at approximately $57,000. Janney Montgomery Scott LLC raised its position in shares of CECO Environmental by 5.4% in the third quarter. Janney Montgomery Scott LLC now owns 64,456 shares of the company’s stock valued at $1,029,000 after purchasing an additional 3,300 shares during the period. Mesirow Financial Investment Management Inc. raised its position in shares of CECO Environmental by 20.3% in the third quarter. Mesirow Financial Investment Management Inc. now owns 19,714 shares of the company’s stock valued at $315,000 after purchasing an additional 3,328 shares during the period. Finally, Truvestments Capital LLC raised its position in shares of CECO Environmental by 21.4% in the third quarter. Truvestments Capital LLC now owns 19,701 shares of the company’s stock valued at $315,000 after purchasing an additional 3,467 shares during the period. Institutional investors own 68.08% of the company’s stock.

About CECO Environmental

CECO Environmental Corp. provides critical solutions in industrial air quality, industrial water treatment, and energy transition solutions worldwide. It operates in two segments: Engineered Systems and Industrial Process Solutions. The company engineers, designs, manufactures, and installs non-metallic expansion joints and flow control products, including rubber expansion joints, ducting expansion joints, and industrial pinch and duck bill valves; membrane-based industrial water and wastewater treatment systems; and provides dust and fume extraction solutions comprising consultation, design, manufacturing, installation, and service, as well as water and wastewater treatment solutions.