CECO Environmental Corp. to Post Q3 2024 Earnings of $0.20 Per Share, Roth Capital Forecasts (NASDAQ:CECO)

CECO Environmental Corp. (NASDAQ:CECO) – Equities research analysts at Roth Capital lowered their Q3 2024 EPS estimates for shares of CECO Environmental in a report released on Wednesday, July 31st. Roth Capital analyst G. Sweeney now expects that the company will post earnings per share of $0.20 for the quarter, down from their prior forecast of $0.30. The consensus estimate for CECO Environmental’s current full-year earnings is $0.92 per share. Roth Capital also issued estimates for CECO Environmental’s Q4 2024 earnings at $0.37 EPS.

CECO Environmental (NASDAQ:CECO) last posted its earnings results on Tuesday, July 30th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.04. CECO Environmental had a net margin of 2.33% and a return on equity of 12.35%. The company had revenue of $137.50 million for the quarter, compared to analyst estimates of $143.33 million. During the same period last year, the business posted $0.15 earnings per share. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year.

A number of other research firms have also commented on CECO. Needham & Company LLC raised their price target on CECO Environmental from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Craig Hallum raised their target price on shares of CECO Environmental from $28.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Northland Securities lifted their price target on shares of CECO Environmental from $28.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. HC Wainwright increased their target price on CECO Environmental from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Roth Mkm lifted their price target on CECO Environmental from $26.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $34.80.

CECO Environmental Stock Performance

Shares of CECO Environmental stock opened at $27.19 on Monday. CECO Environmental has a 12 month low of $11.55 and a 12 month high of $31.55. The company has a current ratio of 1.36, a quick ratio of 1.19 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $949.91 million, a PE ratio of 77.69, a PEG ratio of 2.07 and a beta of 1.37. The stock’s fifty day simple moving average is $26.95 and its 200 day simple moving average is $23.98.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CECO. Allspring Global Investments Holdings LLC lifted its position in CECO Environmental by 651,526.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 293,232 shares of the company’s stock worth $8,460,000 after acquiring an additional 293,187 shares during the last quarter. Hennessy Advisors Inc. acquired a new position in shares of CECO Environmental during the 4th quarter worth approximately $4,153,000. Great Lakes Advisors LLC acquired a new stake in shares of CECO Environmental in the fourth quarter valued at approximately $2,720,000. Robeco Schweiz AG bought a new position in CECO Environmental during the 1st quarter worth $2,738,000. Finally, First Eagle Investment Management LLC grew its holdings in shares of 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 purchasing an additional 109,500 shares in the last quarter. 68.08% of the stock is owned by institutional investors and hedge funds.

Insider Activity at CECO Environmental

In other news, Director Richard F. Wallman purchased 4,000 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was purchased at an average price of $24.50 per share, for a total transaction of $98,000.00. Following the completion of the purchase, the director now directly owns 205,319 shares in the company, valued at approximately $5,030,315.50. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 16.90% of the stock is owned by company 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.