Equities Analysts Offer Predictions for CECO Environmental Corp.’s Q3 2024 Earnings (NASDAQ:CECO)

CECO Environmental Corp. (NASDAQ:CECO) – Stock analysts at Northland Capmk decreased their Q3 2024 earnings per share (EPS) estimates for shares of CECO Environmental in a note issued to investors on Tuesday, April 30th. Northland Capmk analyst B. Brooks now forecasts that the company will post earnings per share of $0.31 for the quarter, down from their prior forecast of $0.37. The consensus estimate for CECO Environmental’s current full-year earnings is $0.94 per share. Northland Capmk also issued estimates for CECO Environmental’s FY2025 earnings at $1.49 EPS.

Other equities analysts have also recently issued research reports about the stock. Northland Securities raised their target price on shares of CECO Environmental from $27.00 to $28.00 and gave the stock an “outperform” rating in a report on Wednesday, March 6th. Needham & Company LLC boosted their price objective on CECO Environmental from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday. Craig Hallum increased their target price on CECO Environmental from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday. Roth Mkm boosted their price target on shares of CECO Environmental from $22.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price objective on shares of CECO Environmental in a report on Wednesday. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $27.40.

CECO Environmental Trading Down 2.3 %

CECO Environmental stock opened at $22.45 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.22 and a current ratio of 1.38. CECO Environmental has a 1 year low of $10.68 and a 1 year high of $25.82. The firm’s 50-day moving average is $22.70 and its 200-day moving average is $20.36. The company has a market cap of $784.40 million, a P/E ratio of 64.14, a PEG ratio of 1.57 and a beta of 1.24.

CECO Environmental (NASDAQ:CECO) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.11 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.11. CECO Environmental had a return on equity of 11.57% and a net margin of 2.23%. The firm had revenue of $126.30 million for the quarter, compared to analysts’ expectations of $135.82 million. During the same period last year, the business posted $0.10 earnings per share. The firm’s revenue for the quarter was up 12.2% on a year-over-year basis.

Insider Activity at CECO Environmental

In related news, Director Laurie Siegel purchased 2,500 shares of CECO Environmental stock in a transaction dated Wednesday, March 6th. The stock was bought at an average cost of $19.87 per share, with a total value of $49,675.00. Following the purchase, the director now owns 7,906 shares in the company, valued at approximately $157,092.22. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In other CECO Environmental news, Director Richard F. Wallman purchased 5,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was bought at an average cost of $21.95 per share, with a total value of $109,750.00. Following the acquisition, the director now owns 191,853 shares of the company’s stock, valued at $4,211,173.35. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Laurie Siegel acquired 2,500 shares of the stock in a transaction dated Wednesday, March 6th. The stock was acquired at an average cost of $19.87 per share, for a total transaction of $49,675.00. Following the purchase, the director now directly owns 7,906 shares in the company, valued at $157,092.22. The disclosure for this purchase can be found here. Company insiders own 16.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new position in shares of CECO Environmental in the 3rd quarter valued at $204,000. Mesirow Financial Investment Management Inc. increased 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 worth $315,000 after acquiring an additional 3,328 shares in the last quarter. Jump Financial LLC lifted its position in shares of CECO Environmental by 200.4% in the 3rd quarter. Jump Financial LLC now owns 33,039 shares of the company’s stock valued at $528,000 after acquiring an additional 22,039 shares in the last quarter. Boston Partners acquired a new position in CECO Environmental in the 3rd quarter worth approximately $201,000. Finally, First Eagle Investment Management LLC purchased a new position in CECO Environmental during the 3rd quarter worth approximately $7,037,000. 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.