HC Wainwright Equities Analysts Cut Earnings Estimates for CECO Environmental Corp. (NASDAQ:CECO)

CECO Environmental Corp. (NASDAQ:CECO) – Investment analysts at HC Wainwright reduced their Q3 2024 earnings estimates for shares of CECO Environmental in a research report issued to clients and investors on Wednesday, July 31st. HC Wainwright analyst A. Dayal now expects that the company will post earnings of $0.22 per share for the quarter, down from their prior estimate of $0.30. HC Wainwright currently has a “Buy” rating and a $35.00 target price on the stock. The consensus estimate for CECO Environmental’s current full-year earnings is $0.92 per share. HC Wainwright also issued estimates for CECO Environmental’s FY2025 earnings at $1.53 EPS.

CECO Environmental (NASDAQ:CECO) last announced its earnings results on Tuesday, July 30th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.04. CECO Environmental had a return on equity of 12.35% and a net margin of 2.33%. The company had revenue of $137.50 million for the quarter, compared to analyst estimates of $143.33 million. During the same quarter in the previous year, the company earned $0.15 earnings per share. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year.

A number of other equities research analysts have also issued reports on the stock. Northland Securities increased their target price on shares of CECO Environmental from $28.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Roth Mkm upped their price target on CECO Environmental from $26.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Craig Hallum lifted their price objective on CECO Environmental from $28.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, Needham & Company LLC boosted their price objective on CECO Environmental from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, CECO Environmental has an average rating of “Buy” and an average price target of $34.80.

CECO Environmental Stock Performance

NASDAQ CECO opened at $27.19 on Monday. The company has a market cap of $949.91 million, a P/E ratio of 77.69, a P/E/G ratio of 2.07 and a beta of 1.37. CECO Environmental has a 1-year low of $11.55 and a 1-year high of $31.55. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 1.19. The stock has a 50-day moving average of $26.95 and a two-hundred day moving average of $23.98.

Insider Transactions at CECO Environmental

In other CECO Environmental news, Director Richard F. Wallman bought 4,000 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were acquired at an average price of $24.50 per share, with a total value of $98,000.00. Following the transaction, the director now owns 205,319 shares of the company’s stock, valued at $5,030,315.50. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 16.90% of the company’s stock.

Institutional Trading of CECO Environmental

Hedge funds and other institutional investors have recently made changes to their positions in the company. CWM LLC boosted its position in shares of CECO Environmental by 45.3% in the 2nd quarter. CWM LLC now owns 2,270 shares of the company’s stock valued at $65,000 after purchasing an additional 708 shares during the period. AJOVista LLC purchased a new stake in CECO Environmental in the 4th quarter valued at $57,000. EntryPoint Capital LLC purchased a new stake in CECO Environmental in the 1st quarter valued at $72,000. Kessler Investment Group LLC acquired a new stake in CECO Environmental during the 4th quarter worth $125,000. Finally, SG Americas Securities LLC purchased a new position in CECO Environmental during the 2nd quarter worth $201,000. 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.