Northland Capmk Brokers Decrease Earnings Estimates for CECO

CECO Environmental Corp. (NASDAQ:CECO) – Analysts at Northland Capmk reduced their FY2024 earnings estimates for shares of CECO Environmental in a note issued to investors on Wednesday, January 22nd. Northland Capmk analyst B. Brooks now expects that the company will earn $0.62 per share for the year, down from their previous estimate of $0.83. The consensus estimate for CECO Environmental’s current full-year earnings is $0.74 per share. Northland Capmk also issued estimates for CECO Environmental’s Q4 2024 earnings at $0.17 EPS.

CECO has been the topic of several other research reports. Needham & Company LLC lowered their target price on shares of CECO Environmental from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. HC Wainwright cut CECO Environmental from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Northland Securities increased their price target 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 boosted their price objective on CECO Environmental from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $36.20.

CECO Environmental Price Performance

Shares of NASDAQ CECO opened at $29.55 on Friday. The stock has a market cap of $1.03 billion, a P/E ratio of 89.55, a P/E/G ratio of 1.70 and a beta of 1.43. The firm’s 50-day simple moving average is $31.11 and its 200 day simple moving average is $28.68. CECO Environmental has a fifty-two week low of $18.50 and a fifty-two week high of $35.16. 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 posted its earnings results on Tuesday, October 29th. The company reported $0.14 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 business had revenue of $135.50 million during the quarter, compared to analyst estimates of $155.94 million. During the same quarter in the prior year, the business earned $0.22 earnings per share. The firm’s revenue was down 9.3% compared to the same quarter last year.

Institutional Investors Weigh In On CECO Environmental

A number of institutional investors and hedge funds have recently modified their holdings of CECO. First Horizon Advisors Inc. lifted its holdings in shares of CECO Environmental by 71.6% in the third quarter. First Horizon Advisors Inc. now owns 1,416 shares of the company’s stock valued at $40,000 after purchasing an additional 591 shares in the last quarter. Heck Capital Advisors LLC purchased a new stake in CECO Environmental in the 4th quarter worth about $74,000. Quest Partners LLC acquired a new stake in CECO Environmental during the 3rd quarter worth about $69,000. Morse Asset Management Inc purchased a new position in CECO Environmental during the 3rd quarter valued at about $76,000. Finally, Eastern Bank acquired a new position in CECO Environmental in the 3rd quarter valued at approximately $113,000. 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.