CECO Environmental Corp. Forecasted to Post FY2016 Earnings of $0.83 Per Share (CECE)
CECO Environmental Corp. (NASDAQ:CECE) – Equities research analysts at Roth Capital upped their FY2016 earnings per share estimates for CECO Environmental Corp. in a research note issued on Wednesday. Roth Capital analyst G. Sweeney now anticipates that the firm will post earnings per share of $0.83 for the year, up from their previous forecast of $0.80. Roth Capital also issued estimates for CECO Environmental Corp.’s Q1 2017 earnings at $0.21 EPS, Q2 2017 earnings at $0.22 EPS, Q3 2017 earnings at $0.25 EPS, Q4 2017 earnings at $0.26 EPS, FY2017 earnings at $0.95 EPS and FY2018 earnings at $1.06 EPS.
CECO Environmental Corp. (NASDAQ:CECE) last posted its quarterly earnings data on Tuesday, November 8th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.03. The company had revenue of $101.60 million for the quarter, compared to the consensus estimate of $110.44 million. CECO Environmental Corp. had a net margin of 2.35% and a return on equity of 11.22%. The firm’s revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.27 earnings per share.
Other equities analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of CECO Environmental Corp. from a “hold” rating to a “strong-buy” rating and set a $12.00 target price for the company in a report on Thursday. Needham & Company LLC boosted their target price on shares of CECO Environmental Corp. from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, August 10th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $10.93.
CECO Environmental Corp. (NASDAQ:CECE) opened at 10.29 on Thursday. The company has a 50 day moving average of $10.52 and a 200-day moving average of $9.43. The stock’s market cap is $349.46 million. CECO Environmental Corp. has a 12-month low of $5.60 and a 12-month high of $11.75.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Friday, December 16th will be issued a dividend of $0.066 per share. The ex-dividend date is Wednesday, December 14th. This represents a $0.26 annualized dividend and a dividend yield of 2.57%. CECO Environmental Corp.’s dividend payout ratio (DPR) is currently 89.66%.
A number of institutional investors have recently modified their holdings of CECE. Victory Capital Management Inc. acquired a new position in shares of CECO Environmental Corp. during the second quarter valued at $726,000. Mesirow Financial Investment Management Equity Management acquired a new position in shares of CECO Environmental Corp. during the second quarter valued at $277,000. Janney Montgomery Scott LLC increased its position in shares of CECO Environmental Corp. by 110.8% in the second quarter. Janney Montgomery Scott LLC now owns 108,188 shares of the company’s stock valued at $899,000 after buying an additional 56,869 shares during the period. Boston Partners increased its position in shares of CECO Environmental Corp. by 6.2% in the second quarter. Boston Partners now owns 627,206 shares of the company’s stock valued at $5,482,000 after buying an additional 36,346 shares during the period. Finally, Rutabaga Capital Management LLC MA increased its position in shares of CECO Environmental Corp. by 677.7% in the second quarter. Rutabaga Capital Management LLC MA now owns 500,106 shares of the company’s stock valued at $4,371,000 after buying an additional 435,797 shares during the period. Institutional investors own 53.87% of the company’s stock.
CECO Environmental Corp. Company Profile
CECO Environmental Corp. is a provider of engineered technologies to the environmental, energy, and fluid handling and filtration industrial segments. The Company focuses on engineering, designing, building and installing systems that capture, clean and destroy airborne contaminants from industrial facilities, as well as equipment that controls emissions from such facilities, and fluid handling and filtration systems.
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