Roth Capital Analysts Decrease Earnings Estimates for CECO

CECO Environmental Corp. (NASDAQ:CECO) – Investment analysts at Roth Capital decreased their FY2024 earnings per share estimates for shares of CECO Environmental in a report issued on Wednesday, October 30th. Roth Capital analyst G. Sweeney now forecasts that the company will post earnings per share of $0.76 for the year, down from their previous estimate of $0.89. The consensus estimate for CECO Environmental’s current full-year earnings is $0.82 per share. Roth Capital also issued estimates for CECO Environmental’s FY2025 earnings at $1.06 EPS and FY2026 earnings at $1.39 EPS.

CECO Environmental (NASDAQ:CECO) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.05). CECO Environmental had a net margin of 2.16% and a return on equity of 11.12%. The company had revenue of $135.50 million for the quarter, compared to the consensus estimate of $155.94 million. During the same quarter last year, the business posted $0.22 earnings per share. CECO Environmental’s revenue was down 9.3% on a year-over-year basis.

A number of other research firms have also recently commented on CECO. Needham & Company LLC lowered their target price on CECO Environmental from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday. Craig Hallum lifted their target price on CECO Environmental from $28.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Northland Securities lifted their target price on CECO Environmental from $28.00 to $35.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Roth Mkm lifted their target price on CECO Environmental from $26.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, HC Wainwright reiterated a “buy” rating and set a $35.00 target price on shares of CECO Environmental in a research note on Wednesday. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, CECO Environmental has an average rating of “Buy” and an average price target of $34.40.

CECO Environmental Trading Down 1.4 %

NASDAQ CECO opened at $23.47 on Thursday. The stock has a market capitalization of $820.98 million, a price-to-earnings ratio of 71.12, a PEG ratio of 2.00 and a beta of 1.33. CECO Environmental has a one year low of $15.65 and a one year high of $31.55. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 1.17. The business’s fifty day moving average is $27.08 and its 200-day moving average is $26.47.

Insider Buying and Selling

In other news, Director Richard F. Wallman acquired 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was bought at an average price of $28.77 per share, with a total value of $287,700.00. Following the acquisition, the director now owns 62,000 shares in the company, valued at $1,783,740. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 16.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. grew its holdings in CECO Environmental by 17.6% during the 3rd quarter. Principal Financial Group Inc. now owns 22,246 shares of the company’s stock valued at $627,000 after buying an additional 3,330 shares in the last quarter. Van ECK Associates Corp grew its holdings in CECO Environmental by 466.4% during the 3rd quarter. Van ECK Associates Corp now owns 379,877 shares of the company’s stock valued at $10,082,000 after buying an additional 312,803 shares in the last quarter. Private Advisor Group LLC boosted its position in shares of CECO Environmental by 5.8% during the 3rd quarter. Private Advisor Group LLC now owns 16,065 shares of the company’s stock valued at $453,000 after acquiring an additional 885 shares during the last quarter. Eastern Bank bought a new stake in shares of CECO Environmental during the 3rd quarter valued at about $113,000. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of CECO Environmental by 65.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 484,518 shares of the company’s stock valued at $13,663,000 after acquiring an additional 191,286 shares during the last quarter. Hedge funds and other institutional investors own 68.08% of the company’s stock.

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.