Northland Capmk Analysts Lower Earnings Estimates for CECO Environmental Corp. (NASDAQ:CECO)

CECO Environmental Corp. (NASDAQ:CECO) – Investment analysts at Northland Capmk lowered their Q2 2024 earnings per share (EPS) estimates for CECO Environmental in a research report issued to clients and investors on Tuesday, April 30th. Northland Capmk analyst B. Brooks now anticipates that the company will earn $0.18 per share for the quarter, down from their prior estimate of $0.19. 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 Q4 2024 earnings at $0.36 EPS, FY2024 earnings at $0.93 EPS and Q1 2025 earnings at $0.19 EPS.

CECO Environmental (NASDAQ:CECO) last announced its earnings results on Tuesday, April 30th. The company reported $0.11 EPS for the quarter, meeting analysts’ consensus estimates of $0.11. The business 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%. The business’s revenue was up 12.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.10 earnings per share.

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

CECO Environmental Price Performance

CECO stock opened at $22.45 on Thursday. The business has a fifty day moving average of $22.70 and a two-hundred day moving average of $20.36. The company has a quick ratio of 1.22, a current ratio of 1.38 and a debt-to-equity ratio of 0.53. The stock has a market cap of $784.40 million, a price-to-earnings ratio of 64.14, a price-to-earnings-growth ratio of 1.57 and a beta of 1.24. CECO Environmental has a 52-week low of $10.68 and a 52-week high of $25.82.

Insider Transactions at CECO Environmental

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

Hedge Funds Weigh In On CECO Environmental

Several institutional investors have recently bought and sold shares of the company. Channing Capital Management LLC purchased a new stake in shares of CECO Environmental in the third quarter valued at about $388,000. Wellington Management Group LLP lifted its position in 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 purchasing an additional 459,646 shares during the period. Loomis Sayles & Co. L P purchased a new stake in CECO Environmental in the 3rd quarter valued at approximately $6,891,000. Millrace Asset Group Inc. increased its position in CECO Environmental by 14.7% during the 3rd quarter. Millrace Asset Group Inc. now owns 209,524 shares of the company’s stock worth $3,346,000 after purchasing an additional 26,822 shares during the period. Finally, Guyasuta Investment Advisors Inc. purchased a new position in shares of CECO Environmental during the 4th quarter worth approximately $203,000. 68.08% of the stock is owned by institutional investors and hedge funds.

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.