HC Wainwright Cuts Earnings Estimates for CECO Environmental

CECO Environmental Corp. (NASDAQ:CECO - Free Report) - Analysts at HC Wainwright lowered their FY2024 earnings per share (EPS) estimates for CECO Environmental in a note issued to investors on Wednesday, October 30th. HC Wainwright analyst A. Dayal now expects that the company will earn $0.77 per share for the year, down from their previous estimate of $0.96. HC Wainwright currently has a "Buy" rating and a $35.00 target price on the stock. The consensus estimate for CECO Environmental's current full-year earnings is $0.93 per share. HC Wainwright also issued estimates for CECO Environmental's Q2 2025 earnings at $0.24 EPS and Q4 2025 earnings at $0.64 EPS.

A number of other analysts have also commented on CECO. Roth Mkm lifted their price objective on CECO Environmental from $26.00 to $35.00 and gave the stock a "buy" rating in a research report on Wednesday, July 31st. Needham & Company LLC cut their target price on CECO Environmental from $35.00 to $33.00 and set a "buy" rating on the stock in a research note on Wednesday. Craig Hallum boosted their target price on CECO Environmental from $28.00 to $34.00 and gave the company a "buy" rating in a research note on Wednesday, July 31st. Finally, Northland Securities boosted their target price on CECO Environmental from $28.00 to $35.00 and gave the company an "outperform" rating in a research note on Thursday, August 1st. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $34.40.

CECO Environmental Price Performance

Shares of NASDAQ:CECO traded down $0.79 during midday trading on Thursday, reaching $23.80. The company's stock had a trading volume of 463,859 shares, compared to its average volume of 263,634. The business's fifty day simple moving average is $27.18 and its 200-day simple moving average is $26.46. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 1.17. The company has a market capitalization of $832.07 million, a P/E ratio of 72.12, a P/E/G ratio of 2.01 and a beta of 1.33. CECO Environmental has a fifty-two week low of $15.65 and a fifty-two week high of $31.55.

CECO Environmental (NASDAQ:CECO - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.19 by ($0.05). CECO Environmental had a net margin of 2.33% and a return on equity of 12.35%. The company had revenue of $135.50 million for the quarter, compared to the consensus estimate of $155.94 million. During the same period in the previous year, the business posted $0.22 earnings per share. The firm's revenue was down 9.3% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CECO. Hood River Capital Management LLC bought a new stake in shares of CECO Environmental during the 2nd quarter valued at $15,495,000. Robeco Schweiz AG lifted its position in shares of CECO Environmental by 375.2% during the 2nd quarter. Robeco Schweiz AG now owns 565,255 shares of the company's stock worth $16,308,000 after buying an additional 446,305 shares during the last quarter. Thrivent Financial for Lutherans bought a new stake in shares of CECO Environmental during the 2nd quarter worth $11,857,000. Van ECK Associates Corp raised its position in CECO Environmental by 466.4% in the third quarter. Van ECK Associates Corp now owns 379,877 shares of the company's stock valued at $10,082,000 after purchasing an additional 312,803 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in CECO Environmental by 651,526.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 293,232 shares of the company's stock valued at $8,460,000 after purchasing an additional 293,187 shares during the last quarter. 68.08% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other CECO Environmental news, Director Richard F. Wallman bought 10,000 shares of the firm's stock in a transaction that occurred on Friday, August 30th. The shares were acquired at an average cost of $28.77 per share, with a total value of $287,700.00. Following the acquisition, the director now owns 62,000 shares of the company's stock, valued at $1,783,740. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 16.90% of the company's stock.

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.