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

CECO Environmental Corp. (NASDAQ:CECO) – Investment analysts at Roth Capital lowered their Q2 2024 earnings per share (EPS) estimates for CECO Environmental in a note issued to investors on Wednesday, May 1st. Roth Capital analyst G. Sweeney now expects that the company will post earnings per share of $0.15 for the quarter, down from their prior estimate of $0.17. The consensus estimate for CECO Environmental’s current full-year earnings is $0.94 per share. Roth Capital also issued estimates for CECO Environmental’s Q3 2024 earnings at $0.30 EPS, Q4 2024 earnings at $0.33 EPS and FY2024 earnings at $0.89 EPS.

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

CECO Environmental Price Performance

Shares of NASDAQ:CECO opened at $22.45 on Thursday. The stock’s 50 day moving average is $22.70 and its 200-day moving average is $20.36. CECO Environmental has a twelve month low of $10.68 and a twelve month high of $25.82. The company has a quick ratio of 1.22, a current ratio of 1.38 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $784.40 million, a price-to-earnings 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, meeting analysts’ consensus estimates of $0.11. The company had revenue of $126.30 million for the quarter, compared to the consensus estimate of $135.82 million. CECO Environmental had a return on equity of 11.57% and a net margin of 2.23%. The firm’s revenue was up 12.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.10 EPS.

Institutional Trading of CECO Environmental

A number of hedge funds have recently bought and sold shares of CECO. Wellington Management Group LLP lifted its holdings in CECO Environmental by 271.2% during the third quarter. Wellington Management Group LLP now owns 629,146 shares of the company’s stock worth $10,047,000 after buying an additional 459,646 shares during the period. First Eagle Investment Management LLC acquired a new position in shares of CECO Environmental during the third quarter worth $7,037,000. Loomis Sayles & Co. L P acquired a new position in shares of CECO Environmental during the third quarter worth $6,891,000. RK Capital Management LLC increased its position in shares of CECO Environmental by 36.6% during the third quarter. RK Capital Management LLC now owns 884,347 shares of the company’s stock worth $14,123,000 after purchasing an additional 237,093 shares in the last quarter. Finally, Hennessy Advisors Inc. acquired a new position in shares of CECO Environmental during the fourth quarter worth $4,153,000. Hedge funds and other institutional investors own 68.08% of the company’s stock.

Insider Buying and Selling

In related news, Director Richard F. Wallman bought 5,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were bought at an average cost of $21.95 per share, for a total transaction of $109,750.00. Following the completion of the transaction, the director now owns 191,853 shares of the company’s stock, valued at $4,211,173.35. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Laurie Siegel bought 2,500 shares of the stock in a transaction on Wednesday, March 6th. The stock was bought at an average price of $19.87 per share, for a total transaction of $49,675.00. Following the completion of the acquisition, the director now directly owns 7,906 shares in the company, valued at $157,092.22. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard F. Wallman bought 5,000 shares of the stock in a transaction on Wednesday, May 1st. The shares were bought at an average price 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 disclosure for this purchase can be found here. 16.90% of the stock is currently owned by company insiders.

CECO Environmental Company Profile

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.