Equities Analysts Issue Forecasts for CECO Q4 Earnings

CECO Environmental Corp. (NASDAQ:CECO - Free Report) - Research analysts at HC Wainwright cut their Q4 2024 earnings per share estimates for shares of CECO Environmental in a research report issued to clients and investors on Wednesday, October 30th. HC Wainwright analyst A. Dayal now expects that the company will post earnings of $0.31 per share for the quarter, down from their previous forecast of $0.43. HC Wainwright has a "Buy" rating and a $35.00 price target on the stock. The consensus estimate for CECO Environmental's current full-year earnings is $0.82 per share. HC Wainwright also issued estimates for CECO Environmental's Q1 2025 earnings at $0.14 EPS, Q3 2025 earnings at $0.32 EPS and FY2025 earnings at $1.33 EPS.

CECO Environmental (NASDAQ:CECO - Get Free Report) last posted its earnings results on Tuesday, October 29th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.05). CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. The firm had revenue of $135.50 million during the quarter, compared to the consensus estimate of $155.94 million. During the same period in the previous year, the company posted $0.22 EPS. The firm's revenue for the quarter was down 9.3% compared to the same quarter last year.

A number of other equities research analysts have also commented on the company. Roth Mkm increased their price target 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 lowered their target price on CECO Environmental from $35.00 to $33.00 and set a "buy" rating for the company in a research note on Wednesday. Craig Hallum lifted their price target on CECO Environmental from $28.00 to $34.00 and gave the company a "buy" rating in a report on Wednesday, July 31st. Finally, Northland Securities raised their price objective on shares of CECO Environmental from $28.00 to $35.00 and gave the company an "outperform" rating in a research report on Thursday, August 1st. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, CECO Environmental presently has a consensus rating of "Buy" and an average target price of $34.40.

CECO Environmental Price Performance

CECO Environmental stock traded down $0.33 during trading hours on Friday, hitting $23.47. 312,637 shares of the stock were exchanged, compared to its average volume of 263,864. CECO Environmental has a 12 month low of $15.65 and a 12 month high of $31.55. The business's 50-day moving average is $27.08 and its two-hundred day moving average is $26.47. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.30. The stock has a market capitalization of $820.98 million, a P/E ratio of 71.12, a P/E/G ratio of 2.00 and a beta of 1.33.

Institutional Investors Weigh In On CECO Environmental

Hedge funds have recently modified their holdings of the business. CWM LLC raised its holdings in CECO Environmental by 45.3% during the 2nd quarter. CWM LLC now owns 2,270 shares of the company's stock worth $65,000 after buying an additional 708 shares during the period. EntryPoint Capital LLC bought a new stake in CECO Environmental in the 1st quarter valued at $72,000. Eastern Bank acquired a new position in CECO Environmental in the 3rd quarter worth $113,000. SG Americas Securities LLC bought a new position in CECO Environmental during the 2nd quarter worth about $201,000. Finally, Kessler Investment Group LLC lifted its holdings in shares of CECO Environmental by 27.8% in the second quarter. Kessler Investment Group LLC now owns 7,166 shares of the company's stock valued at $207,000 after purchasing an additional 1,560 shares in the last quarter. Institutional investors and hedge funds own 68.08% of the company's stock.

Insider Transactions at CECO Environmental

In other news, Director Richard F. Wallman acquired 10,000 shares of the firm's stock in a transaction that occurred on Friday, August 30th. The stock was purchased at an average price of $28.77 per share, for a total transaction of $287,700.00. Following the completion of the acquisition, the director now owns 62,000 shares in the company, valued at $1,783,740. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 16.90% of the stock is 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.