CECO Environmental Corp. (CECE) Receives $10.90 Consensus PT from Brokerages
Shares of CECO Environmental Corp. (NASDAQ:CECE) have received an average recommendation of “Buy” from the eight brokerages that are presently covering the stock. Three research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $10.90.
Several analysts have issued reports on CECE shares. Zacks Investment Research downgraded shares of CECO Environmental Corp. from a “strong-buy” rating to a “hold” rating in a research report on Friday. Needham & Company LLC raised their price target on shares of CECO Environmental Corp. from $10.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, August 10th.
Institutional investors have recently made changes to their positions in the company. Bank of Montreal Can purchased a new position in shares of CECO Environmental Corp. during the second quarter valued at about $106,000. BlackRock Advisors LLC boosted its position in shares of CECO Environmental Corp. by 1.6% in the second quarter. BlackRock Advisors LLC now owns 12,757 shares of the company’s stock valued at $111,000 after buying an additional 195 shares during the period. Van Hulzen Asset Management LLC purchased a new position in shares of CECO Environmental Corp. during the second quarter valued at about $126,000. Connors Investor Services Inc. purchased a new position in shares of CECO Environmental Corp. during the second quarter valued at about $131,000. Finally, American International Group Inc. boosted its position in shares of CECO Environmental Corp. by 1.6% in the second quarter. American International Group Inc. now owns 16,851 shares of the company’s stock valued at $147,000 after buying an additional 258 shares during the period. Hedge funds and other institutional investors own 53.87% of the company’s stock.
CECO Environmental Corp. (NASDAQ:CECE) opened at 10.86 on Wednesday. The firm has a market cap of $369.35 million, a PE ratio of 37.32 and a beta of 1.58. CECO Environmental Corp. has a one year low of $5.60 and a one year high of $11.75. The company has a 50 day moving average of $10.51 and a 200-day moving average of $9.46.
CECO Environmental Corp. (NASDAQ:CECE) last issued its quarterly earnings data on Tuesday, November 8th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.03. CECO Environmental Corp. had a net margin of 2.35% and a return on equity of 11.22%. The company earned $101.60 million during the quarter, compared to the consensus estimate of $110.44 million. During the same quarter last year, the company earned $0.27 earnings per share. CECO Environmental Corp.’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, equities research analysts predict that CECO Environmental Corp. will post $0.80 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Friday, December 16th will be paid a dividend of $0.066 per share. This represents a $0.26 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend is Wednesday, December 14th. CECO Environmental Corp.’s dividend payout ratio (DPR) is presently 89.66%.
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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