HC Wainwright Analysts Reduce Earnings Estimates for CECO

CECO Environmental Corp. (NASDAQ:CECO) – HC Wainwright cut their Q4 2024 earnings per share estimates for CECO Environmental in a report issued on Wednesday, October 30th. HC Wainwright analyst A. Dayal now forecasts that the company will post earnings of $0.31 per share for the quarter, down from their prior forecast of $0.43. HC Wainwright currently has a “Buy” rating and a $35.00 price target on the stock. The consensus estimate for CECO Environmental’s current full-year earnings is $0.82 per share. HC Wainwright also issued estimates for CECO Environmental’s Q1 2025 earnings at $0.14 EPS, Q3 2025 earnings at $0.32 EPS and FY2025 earnings at $1.33 EPS.

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

Several other research firms also recently issued reports on CECO. Craig Hallum lifted their price target on CECO Environmental from $28.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Roth Mkm upped their price target on shares of CECO Environmental from $26.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Northland Securities raised their price objective on shares of CECO Environmental from $28.00 to $35.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Finally, Needham & Company LLC reduced 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. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, CECO Environmental currently has a consensus rating of “Buy” and a consensus target price of $34.40.

CECO Environmental Stock Performance

Shares of CECO stock opened at $23.80 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.30. The stock has a market cap of $832.52 million, a PE ratio of 72.12, a P/E/G ratio of 2.00 and a beta of 1.33. CECO Environmental has a 1 year low of $15.65 and a 1 year high of $31.55. The stock has a fifty day moving average price of $27.18 and a 200 day moving average price of $26.46.

Insider Activity at CECO Environmental

In related news, Director Richard F. Wallman purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was purchased at an average price of $28.77 per share, with a total value of $287,700.00. Following the completion of the transaction, the director now owns 62,000 shares of the company’s stock, valued at approximately $1,783,740. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 16.90% of the company’s stock.

Hedge Funds Weigh In On CECO Environmental

A number of large investors have recently modified their holdings of CECO. Principal Financial Group Inc. purchased a new stake in shares of CECO Environmental during the 1st quarter worth about $379,000. Precision Wealth Strategies LLC acquired a new position in CECO Environmental during the first quarter valued at approximately $255,000. BNP Paribas Financial Markets boosted its position in CECO Environmental by 247.5% during the 1st quarter. BNP Paribas Financial Markets now owns 44,520 shares of the company’s stock worth $1,025,000 after purchasing an additional 31,707 shares during the period. Essex Investment Management Co. LLC grew its stake in shares of CECO Environmental by 1.6% in the first quarter. Essex Investment Management Co. LLC now owns 205,982 shares of the company’s stock valued at $4,742,000 after buying an additional 3,147 shares in the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new stake in CECO Environmental in the first quarter valued at approximately $366,000. 68.08% of the stock is currently owned by hedge funds and other 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.