Roth Capital Issues Pessimistic Forecast for CECO Earnings

CECO Environmental Corp. (NASDAQ:CECO) – Roth Capital dropped their FY2024 earnings per share (EPS) estimates for CECO Environmental in a research report issued to clients and investors on Friday, January 17th. Roth Capital analyst G. Sweeney now expects that the company will post earnings per share of $0.69 for the year, down from their previous estimate of $0.76. The consensus estimate for CECO Environmental’s current full-year earnings is $0.79 per share. Roth Capital also issued estimates for CECO Environmental’s Q4 2024 earnings at $0.24 EPS, Q3 2025 earnings at $0.34 EPS and Q4 2025 earnings at $0.43 EPS.

A number of other equities research analysts have also recently issued reports on CECO. HC Wainwright cut shares of CECO Environmental from a “buy” rating to a “neutral” rating in a report on Friday. Needham & Company LLC lowered their price objective on CECO Environmental from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Northland Securities raised their price objective on CECO Environmental from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Friday, December 20th. Finally, Craig Hallum upped their target price on CECO Environmental from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $36.20.

CECO Environmental Stock Performance

CECO stock opened at $29.60 on Monday. The firm has a 50 day moving average of $30.79 and a two-hundred day moving average of $28.63. CECO Environmental has a 12 month low of $18.50 and a 12 month high of $35.16. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of 89.70, a P/E/G ratio of 1.68 and a beta of 1.43. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 0.50.

CECO Environmental (NASDAQ:CECO) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.14 earnings per share (EPS) 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 firm had revenue of $135.50 million for the quarter, compared to analyst estimates of $155.94 million. During the same quarter in the prior year, the firm earned $0.22 earnings per share. The firm’s quarterly revenue was down 9.3% compared to the same quarter last year.

Institutional Investors Weigh In On CECO Environmental

Hedge funds and other institutional investors have recently modified their holdings of the stock. American Century Companies Inc. lifted its position in shares of CECO Environmental by 15.3% in the 2nd quarter. American Century Companies Inc. now owns 38,397 shares of the company’s stock worth $1,108,000 after acquiring an additional 5,107 shares during the period. Sei Investments Co. boosted its position in shares of CECO Environmental by 41.3% during the 2nd quarter. Sei Investments Co. now owns 99,089 shares of the company’s stock valued at $2,859,000 after acquiring an additional 28,960 shares in the last quarter. Thrivent Financial for Lutherans bought a new stake in CECO Environmental in the second quarter valued at about $11,857,000. Hood River Capital Management LLC acquired a new position in CECO Environmental in the second quarter worth about $15,495,000. Finally, AQR Capital Management LLC lifted its stake in CECO Environmental by 95.6% during the second quarter. AQR Capital Management LLC now owns 124,672 shares of the company’s stock worth $3,597,000 after purchasing an additional 60,925 shares during the period. Institutional investors and hedge funds 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.