Research Analysts Offer Predictions for CECO Environmental Corp.’s Q3 2024 Earnings (NASDAQ:CECO)

CECO Environmental Corp. (NASDAQ:CECO) – Equities researchers at Northland Capmk decreased their Q3 2024 earnings estimates for CECO Environmental in a research report issued to clients and investors on Tuesday, April 30th. Northland Capmk analyst B. Brooks now expects that the company will post earnings per share of $0.31 for the quarter, down from their previous estimate of $0.37. The consensus estimate for CECO Environmental’s current full-year earnings is $0.94 per share. Northland Capmk also issued estimates for CECO Environmental’s FY2025 earnings at $1.49 EPS.

CECO Environmental (NASDAQ:CECO) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.11 EPS for the quarter, hitting the consensus estimate of $0.11. CECO Environmental had a net margin of 2.23% and a return on equity of 11.57%. The business had revenue of $126.30 million for the quarter, compared to analysts’ expectations of $135.82 million. During the same quarter last year, the company posted $0.10 earnings per share. The company’s quarterly revenue was up 12.2% compared to the same quarter last year.

Several other research firms have also weighed in on CECO. HC Wainwright reiterated a “buy” rating and set a $30.00 price objective on shares of CECO Environmental in a research note on Wednesday. Northland Securities increased their price objective on shares of CECO Environmental from $27.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 6th. Roth Mkm increased their price objective on shares of CECO Environmental from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Craig Hallum increased their price objective on shares of CECO Environmental from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Needham & Company LLC increased their price objective on shares of CECO Environmental from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $27.40.

CECO Environmental Stock Performance

Shares of CECO stock opened at $22.45 on Friday. The stock has a market capitalization of $784.40 million, a price-to-earnings ratio of 64.14, a PEG ratio of 1.63 and a beta of 1.24. CECO Environmental has a one year low of $10.68 and a one year high of $25.82. The company’s 50-day simple moving average is $22.74 and its 200-day simple moving average is $20.41. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.22 and a current ratio of 1.38.

Insider Buying and Selling at CECO Environmental

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Channing Capital Management LLC bought a new position in shares of CECO Environmental in the third quarter valued at approximately $388,000. Wellington Management Group LLP boosted its holdings in shares of CECO Environmental by 271.2% in the third 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 in the last quarter. Millrace Asset Group Inc. boosted its holdings in CECO Environmental by 14.7% during the third quarter. Millrace Asset Group Inc. now owns 209,524 shares of the company’s stock worth $3,346,000 after buying an additional 26,822 shares in the last quarter. Loomis Sayles & Co. L P bought a new stake in CECO Environmental during the third quarter worth approximately $6,891,000. Finally, Guyasuta Investment Advisors Inc. bought a new stake in CECO Environmental during the fourth quarter worth approximately $203,000. 68.08% of the stock is currently owned by institutional investors.

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.