Seaport Global Securities Weighs in on CECO Environmental Corp.’s Q3 2017 Earnings (CECE)
CECO Environmental Corp. (NASDAQ:CECE) – Research analysts at Seaport Global Securities cut their Q3 2017 EPS estimates for CECO Environmental Corp. in a research note issued on Wednesday. Seaport Global Securities analyst R. Cassil now anticipates that the firm will post earnings of $0.24 per share for the quarter, down from their previous forecast of $0.26. Seaport Global Securities also issued estimates for CECO Environmental Corp.’s Q4 2017 earnings at $0.21 EPS and FY2017 earnings at $0.90 EPS.
CECO Environmental Corp. (NASDAQ:CECE) last announced its quarterly earnings data on Tuesday, November 8th. The company reported $0.24 EPS for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.03. The firm had revenue of $101.60 million for the quarter, compared to analyst estimates of $110.44 million. CECO Environmental Corp. had a return on equity of 11.22% and a net margin of 2.35%. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period last year, the company earned $0.27 EPS.
Several other equities research analysts also recently issued reports on the stock. Zacks Investment Research upgraded shares of CECO Environmental Corp. from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research report on Monday, September 19th. Needham & Company LLC lifted their price target on shares of CECO Environmental Corp. from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, August 10th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $10.93.
CECO Environmental Corp. (NASDAQ:CECE) opened at 10.86 on Friday. The firm has a 50-day moving average price of $10.51 and a 200-day moving average price of $9.46. CECO Environmental Corp. has a 12 month low of $5.60 and a 12 month high of $11.75. The company has a market capitalization of $369.35 million, a price-to-earnings ratio of 37.32 and a beta of 1.58.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Friday, December 16th will be given a dividend of $0.066 per share. The ex-dividend date is Wednesday, December 14th. This represents a $0.26 annualized dividend and a yield of 2.43%. CECO Environmental Corp.’s dividend payout ratio is currently 89.66%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mesirow Financial Investment Management Equity Management purchased a new position in shares of CECO Environmental Corp. during the second quarter valued at approximately $277,000. Victory Capital Management Inc. purchased a new position in shares of CECO Environmental Corp. during the second quarter valued at approximately $726,000. 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 in the last quarter. Foundry Partners LLC increased its position in shares of CECO Environmental Corp. by 0.3% in the second quarter. Foundry Partners LLC now owns 464,740 shares of the company’s stock valued at $4,062,000 after buying an additional 1,275 shares in the last quarter. Finally, 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 in the last quarter. Institutional investors and hedge funds own 53.87% of the company’s stock.
About CECO Environmental Corp.
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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