FY2016 EPS Estimates for CECO Environmental Corp. (CECE) Boosted by Jefferies Group
CECO Environmental Corp. (NASDAQ:CECE) – Jefferies Group lifted their FY2016 EPS estimates for shares of CECO Environmental Corp. in a research note issued on Friday. Jefferies Group analyst B. Bohra now forecasts that the firm will post earnings of $0.88 per share for the year, up from their prior estimate of $0.76. Jefferies Group has a “Hold” rating and a $11.00 price objective on the stock. Jefferies Group also issued estimates for CECO Environmental Corp.’s Q4 2016 earnings at $0.20 EPS and FY2017 earnings at $0.94 EPS.
CECO Environmental Corp. (NASDAQ:CECE) last released its quarterly earnings data on Tuesday, November 8th. The company reported $0.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.03. CECO Environmental Corp. had a return on equity of 11.22% and a net margin of 2.35%. The business had revenue of $101.60 million for the quarter, compared to analysts’ expectations of $110.44 million. During the same quarter in the previous year, the business posted $0.27 EPS. CECO Environmental Corp.’s revenue for the quarter was up 3.5% on a year-over-year basis.
CECE has been the subject of several other reports. Zacks Investment Research cut CECO Environmental Corp. from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 11th. TheStreet upgraded CECO Environmental Corp. from a “hold” rating to a “buy” rating in a research report on Friday, November 11th. Seaport Global Securities cut CECO Environmental Corp. from a “buy” rating to a “neutral” rating and set a $13.00 price target for the company. in a research report on Thursday, November 17th. Finally, Needham & Company LLC lifted their price target on 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 research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $12.00.
CECO Environmental Corp. (NASDAQ:CECE) opened at 12.92 on Monday. The stock’s 50 day moving average price is $10.81 and its 200 day moving average price is $9.77. CECO Environmental Corp. has a 12-month low of $5.60 and a 12-month high of $13.00. The company has a market cap of $439.41 million, a PE ratio of 44.40 and a beta of 1.58.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Shareholders 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 2.04%. The ex-dividend date of this dividend is Wednesday, December 14th. CECO Environmental Corp.’s dividend payout ratio (DPR) is currently 89.66%.
A number of large investors have recently modified their holdings of the company. Bank of Montreal Can purchased a new stake in shares of CECO Environmental Corp. during the second quarter valued at about $106,000. BlackRock Advisors LLC raised its stake 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. First Trust Advisors LP purchased a new stake in shares of CECO Environmental Corp. during the third quarter valued at about $161,000. Van Hulzen Asset Management LLC purchased a new stake in shares of CECO Environmental Corp. during the second quarter valued at about $126,000. Finally, Connors Investor Services Inc. purchased a new stake in shares of CECO Environmental Corp. during the second quarter valued at about $131,000. 55.15% of the stock is owned by hedge funds and other institutional investors.
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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