Q2 2024 EPS Estimates for CECO Environmental Corp. Decreased by Analyst (NASDAQ:CECO)

CECO Environmental Corp. (NASDAQ:CECO) – Analysts at HC Wainwright dropped their Q2 2024 earnings per share estimates for shares of CECO Environmental in a research note issued to investors on Wednesday, May 1st. HC Wainwright analyst A. Dayal now anticipates that the company will earn $0.20 per share for the quarter, down from their prior estimate of $0.22. HC Wainwright currently has a “Buy” rating and a $30.00 target price on the stock. The consensus estimate for CECO Environmental’s current full-year earnings is $0.96 per share. HC Wainwright also issued estimates for CECO Environmental’s FY2024 earnings at $0.99 EPS.

CECO Environmental (NASDAQ:CECO) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.11 EPS for the quarter, meeting analysts’ consensus estimates of $0.11. The business had revenue of $126.30 million during the quarter, compared to analyst estimates of $135.82 million. CECO Environmental had a return on equity of 11.57% and a net margin of 2.23%. CECO Environmental’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.10 EPS.

CECO has been the subject of a number of other research reports. Craig Hallum lifted their price objective on CECO Environmental from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday. Northland Securities lifted their target price on CECO Environmental from $27.00 to $28.00 and gave the stock an “outperform” rating in a report on Wednesday, March 6th. Roth Mkm lifted their target price on CECO Environmental from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Finally, Needham & Company LLC lifted their target price on CECO Environmental from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, CECO Environmental currently has a consensus rating of “Buy” and a consensus price target of $27.40.

CECO Environmental Stock Up 1.8 %

Shares of NASDAQ:CECO opened at $22.00 on Thursday. The stock has a 50 day moving average price of $22.62 and a 200-day moving average price of $20.33. The firm has a market capitalization of $767.14 million, a P/E ratio of 62.86, a P/E/G ratio of 1.50 and a beta of 1.24. CECO Environmental has a 52-week low of $10.68 and a 52-week high of $25.82. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.22 and a current ratio of 1.38.

Institutional Trading of CECO Environmental

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

Insider Buying and Selling

In other news, Director Laurie Siegel acquired 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was bought at an average price of $19.87 per share, with a total value of $49,675.00. Following the completion of the acquisition, the director now directly 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 available through this hyperlink. 16.90% of the stock is currently owned by corporate insiders.

CECO Environmental Company Profile

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.