Q3 2024 EPS Estimates for CECO Environmental Corp. (NASDAQ:CECO) Boosted by HC Wainwright

CECO Environmental Corp. (NASDAQ:CECO) – HC Wainwright upped their Q3 2024 EPS estimates for CECO Environmental in a research report issued on Wednesday, May 1st. HC Wainwright analyst A. Dayal now anticipates that the company will post earnings of $0.30 per share for the quarter, up from their prior estimate of $0.27. 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 $0.94 per share. HC Wainwright also issued estimates for CECO Environmental’s Q4 2024 earnings at $0.37 EPS and FY2025 earnings at $1.41 EPS.

CECO Environmental (NASDAQ:CECO) last issued 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 firm had revenue of $126.30 million during the quarter, compared to analysts’ expectations of $135.82 million. CECO Environmental had a net margin of 2.23% and a return on equity of 11.57%. The business’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.10 earnings per share.

Several other research analysts have also recently weighed in on CECO. Roth Mkm upped 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. Northland Securities upped their price target on shares of CECO Environmental from $27.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, March 6th. Needham & Company LLC upped their price target on shares of CECO Environmental from $23.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Craig Hallum upped their price target on shares of CECO Environmental from $25.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, CECO Environmental currently has an average rating of “Buy” and a consensus target price of $27.40.

CECO Environmental Stock Down 2.3 %

CECO Environmental stock opened at $22.45 on Friday. The stock has a market capitalization of $784.40 million, a PE ratio of 64.14, a price-to-earnings-growth ratio of 1.63 and a beta of 1.24. 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 company has a 50 day moving average of $22.74 and a 200-day moving average of $20.41.

Insider Buying and Selling

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

Institutional Trading of CECO Environmental

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. AJOVista LLC bought a new stake in CECO Environmental during the fourth quarter worth $57,000. Tower Research Capital LLC TRC raised its position in CECO Environmental by 89.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,641 shares of the company’s stock worth $94,000 after acquiring an additional 2,195 shares in the last quarter. Kessler Investment Group LLC bought a new position in shares of CECO Environmental in the fourth quarter valued at about $125,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of CECO Environmental in the fourth quarter valued at about $159,000. Finally, Guyasuta Investment Advisors Inc. bought a new position in shares of CECO Environmental in the fourth quarter valued at about $203,000. 68.08% of the stock is owned by institutional investors.

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.