What is Northland Capmk's Forecast for CECO FY2024 Earnings?

CECO Environmental Corp. (NASDAQ:CECO - Free Report) - Stock analysts at Northland Capmk decreased their FY2024 earnings per share (EPS) estimates for shares of CECO Environmental in a report released on Wednesday, January 22nd. Northland Capmk analyst B. Brooks now anticipates that the company will post earnings of $0.62 per share for the year, down from their previous estimate of $0.83. The consensus estimate for CECO Environmental's current full-year earnings is $0.74 per share. Northland Capmk also issued estimates for CECO Environmental's Q4 2024 earnings at $0.17 EPS.

CECO Environmental (NASDAQ:CECO - Get Free Report) last issued its quarterly 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). The business had revenue of $135.50 million during the quarter, compared to analyst estimates of $155.94 million. CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. CECO Environmental's revenue was down 9.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.22 EPS.

A number of other analysts have also recently commented on the company. Needham & Company LLC lowered their price target on CECO Environmental from $35.00 to $33.00 and set a "buy" rating for the company in a research report on Wednesday, October 30th. Craig Hallum upped their target price on CECO Environmental from $34.00 to $40.00 and gave the company a "buy" rating in a research report on Monday, January 6th. HC Wainwright downgraded shares of CECO Environmental from a "buy" rating to a "neutral" rating in a report on Friday, January 17th. Finally, Northland Securities lifted their price objective on shares of CECO Environmental from $35.00 to $38.00 and gave the company an "outperform" rating in a research note on Friday, December 20th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, CECO Environmental presently has an average rating of "Moderate Buy" and an average target price of $36.20.

CECO Environmental Stock Performance

CECO Environmental stock traded down $0.88 during mid-day trading on Friday, reaching $29.55. 238,271 shares of the company traded hands, compared to its average volume of 376,151. The firm's fifty day moving average is $31.11 and its two-hundred day moving average is $28.67. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of 89.55, a price-to-earnings-growth ratio of 1.70 and a beta of 1.43. CECO Environmental has a fifty-two week low of $18.50 and a fifty-two week high of $35.16. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 1.12.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Essex Investment Management Co. LLC boosted its stake in shares of CECO Environmental by 0.3% in the third quarter. Essex Investment Management Co. LLC now owns 208,426 shares of the company's stock worth $5,878,000 after acquiring an additional 562 shares during the last quarter. First Horizon Advisors Inc. raised its position in CECO Environmental by 71.6% in the third quarter. First Horizon Advisors Inc. now owns 1,416 shares of the company's stock valued at $40,000 after purchasing an additional 591 shares during the period. Private Advisor Group LLC lifted its position in CECO Environmental by 5.8% in the third quarter. Private Advisor Group LLC now owns 16,065 shares of the company's stock valued at $453,000 after buying an additional 885 shares during the last quarter. Heck Capital Advisors LLC purchased a new position in shares of CECO Environmental during the 4th quarter worth approximately $74,000. Finally, Quest Partners LLC purchased a new position in shares of CECO Environmental during the third quarter worth $69,000. 68.08% of the stock is owned by institutional investors and hedge funds.

About CECO Environmental

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.