CECO Environmental Corp. Expected to Earn Q2 2024 Earnings of $0.13 Per Share (NASDAQ:CECO)

CECO Environmental Corp. (NASDAQ:CECO) – Stock analysts at Northland Capmk decreased their Q2 2024 earnings per share (EPS) estimates for shares of CECO Environmental in a note issued to investors on Monday, July 8th. Northland Capmk analyst B. Brooks now forecasts that the company will earn $0.13 per share for the quarter, down from their previous forecast of $0.18. The consensus estimate for CECO Environmental’s current full-year earnings is $0.93 per share. Northland Capmk also issued estimates for CECO Environmental’s FY2024 earnings at $0.91 EPS, Q2 2025 earnings at $0.35 EPS, Q3 2025 earnings at $0.45 EPS and Q4 2025 earnings at $0.52 EPS.

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

CECO has been the topic of several other research reports. HC Wainwright reissued a “buy” rating and set a $30.00 target price on shares of CECO Environmental in a research note on Wednesday, May 1st. Needham & Company LLC increased their target price on CECO Environmental from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Finally, Craig Hallum increased their target price on CECO Environmental from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $27.40.

CECO Environmental Price Performance

CECO opened at $28.30 on Tuesday. The stock’s 50-day moving average price is $25.24 and its 200 day moving average price is $22.69. CECO Environmental has a 12-month low of $11.46 and a 12-month high of $29.11. The company has a current ratio of 1.38, a quick ratio of 1.19 and a debt-to-equity ratio of 0.53. The firm has a market cap of $988.80 million, a price-to-earnings ratio of 80.86, a PEG ratio of 2.01 and a beta of 1.37.

Insider Buying and Selling at CECO Environmental

In related news, Director Richard F. Wallman purchased 4,000 shares of CECO Environmental stock in a transaction on Tuesday, May 21st. The shares were bought at an average price of $24.50 per share, with a total value of $98,000.00. Following the transaction, the director now directly owns 205,319 shares of the company’s stock, valued at $5,030,315.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other CECO Environmental news, Director Richard F. Wallman acquired 5,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were acquired at an average price of $21.95 per share, for a total transaction of $109,750.00. Following the acquisition, the director now owns 191,853 shares in the company, valued at approximately $4,211,173.35. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Richard F. Wallman acquired 4,000 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was acquired at an average price of $24.50 per share, for a total transaction of $98,000.00. Following the acquisition, the director now owns 205,319 shares in the company, valued at approximately $5,030,315.50. The disclosure for this purchase can be found here. 16.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CECO. Wellington Management Group LLP increased its holdings in shares of CECO Environmental by 271.2% in the 3rd quarter. Wellington Management Group LLP now owns 629,146 shares of the company’s stock valued at $10,047,000 after acquiring an additional 459,646 shares during the last quarter. Hennessy Advisors Inc. purchased a new position in shares of CECO Environmental in the 4th quarter valued at about $4,153,000. Great Lakes Advisors LLC purchased a new position in CECO Environmental during the 4th quarter worth approximately $2,720,000. Robeco Schweiz AG purchased a new position in CECO Environmental during the 1st quarter worth approximately $2,738,000. Finally, First Eagle Investment Management LLC grew its stake in CECO Environmental by 22.7% during the 1st quarter. First Eagle Investment Management LLC now owns 592,864 shares of the company’s stock worth $13,648,000 after buying an additional 109,500 shares during the last quarter. Hedge funds and other institutional investors own 68.08% 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.