Q2 2024 EPS Estimates for CECO Environmental Corp. (NASDAQ:CECO) Cut by HC Wainwright

CECO Environmental Corp. (NASDAQ:CECO) – Research analysts at HC Wainwright reduced their Q2 2024 earnings per share estimates for shares of CECO Environmental in a report issued on Wednesday, May 1st. HC Wainwright analyst A. Dayal now forecasts that the company will earn $0.20 per share for the quarter, down from their prior forecast of $0.22. HC Wainwright currently has a “Buy” rating and a $30.00 target price on the stock. The consensus estimate for CECO Environmental’s current full-year earnings is $0.94 per share. HC Wainwright also issued estimates for CECO Environmental’s FY2024 earnings at $0.99 EPS.

Several other equities analysts have also issued reports on CECO. Roth Mkm boosted their price objective on CECO Environmental from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Craig Hallum increased their price objective on CECO Environmental from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday. Needham & Company LLC increased their price objective on CECO Environmental from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Northland Securities increased their price objective on CECO Environmental from $27.00 to $28.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 6th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, CECO Environmental presently has a consensus rating of “Buy” and a consensus price target of $27.40.

CECO Environmental Stock Performance

Shares of CECO stock opened at $22.45 on Thursday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.38 and a quick ratio of 1.22. The stock has a market cap of $784.40 million, a PE ratio of 64.14, a price-to-earnings-growth ratio of 1.57 and a beta of 1.24. The stock has a 50-day moving average of $22.70 and a 200-day moving average of $20.36. CECO Environmental has a one year low of $10.68 and a one year high of $25.82.

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

Insider Transactions at CECO Environmental

In related news, Director Richard F. Wallman bought 5,000 shares of CECO Environmental stock in a transaction dated Wednesday, May 1st. The shares were bought at an average cost of $21.95 per share, with a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other CECO Environmental news, Director Laurie Siegel acquired 2,500 shares of CECO Environmental stock in a transaction that occurred on Wednesday, March 6th. The shares were acquired at an average cost of $19.87 per share, with a total value of $49,675.00. Following the completion of the purchase, the director now directly owns 7,906 shares of the company’s stock, valued at approximately $157,092.22. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard F. Wallman acquired 5,000 shares of CECO Environmental stock in a transaction that occurred on Wednesday, May 1st. The stock was acquired at an average cost of $21.95 per share, for a total transaction of $109,750.00. Following the completion of the purchase, the director now directly owns 191,853 shares of the company’s stock, valued at $4,211,173.35. The disclosure for this purchase can be found here. 16.90% of the stock is currently owned by insiders.

Institutional Trading of CECO Environmental

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of CECO Environmental by 1.0% during the third quarter. Vanguard Group Inc. now owns 1,440,579 shares of the company’s stock valued at $23,006,000 after purchasing an additional 13,747 shares in the last quarter. RK Capital Management LLC boosted its stake in shares of CECO Environmental by 36.6% during the third quarter. RK Capital Management LLC now owns 884,347 shares of the company’s stock valued at $14,123,000 after purchasing an additional 237,093 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of CECO Environmental by 271.2% during the third quarter. Wellington Management Group LLP now owns 629,146 shares of the company’s stock valued at $10,047,000 after purchasing an additional 459,646 shares in the last quarter. First Eagle Investment Management LLC boosted its stake in shares of CECO Environmental by 9.7% during the fourth quarter. First Eagle Investment Management LLC now owns 483,364 shares of the company’s stock valued at $9,803,000 after purchasing an additional 42,731 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of CECO Environmental by 28.3% during the fourth quarter. Russell Investments Group Ltd. now owns 448,248 shares of the company’s stock valued at $9,090,000 after purchasing an additional 98,951 shares in the last quarter. 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.