What is Roth Capital’s Forecast for CECO FY2024 Earnings?

CECO Environmental Corp. (NASDAQ:CECO) – Roth Capital cut their FY2024 earnings estimates for shares of CECO Environmental in a research note issued on Wednesday, October 30th. Roth Capital analyst G. Sweeney now expects that the company will post earnings of $0.76 per share for the year, down from their previous forecast of $0.89. The consensus estimate for CECO Environmental’s current full-year earnings is $0.93 per share. Roth Capital also issued estimates for CECO Environmental’s FY2025 earnings at $1.06 EPS and FY2026 earnings at $1.39 EPS.

A number of other brokerages also recently issued reports on CECO. Northland Securities raised their price objective on CECO Environmental from $28.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Craig Hallum increased their price objective on shares of CECO Environmental from $28.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Needham & Company LLC dropped their target price on CECO Environmental from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday. Roth Mkm increased their price objective on CECO Environmental from $26.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, HC Wainwright reiterated a “buy” rating and issued a $35.00 price target on shares of CECO Environmental in a research note on Wednesday. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, CECO Environmental presently has a consensus rating of “Buy” and a consensus target price of $34.40.

CECO Environmental Trading Up 9.0 %

Shares of CECO opened at $24.59 on Thursday. CECO Environmental has a 12-month low of $15.65 and a 12-month high of $31.55. The firm has a market capitalization of $859.08 million, a P/E ratio of 70.26, a P/E/G ratio of 2.01 and a beta of 1.33. The firm has a 50-day moving average price of $27.26 and a 200 day moving average price of $26.48. The company has a current ratio of 1.36, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50.

CECO Environmental (NASDAQ:CECO) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.05). The business had revenue of $135.50 million for the quarter, compared to analyst estimates of $155.94 million. CECO Environmental had a return on equity of 12.35% and a net margin of 2.33%. The business’s revenue was down 9.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.22 earnings per share.

Hedge Funds Weigh In On CECO Environmental

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

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 shares were purchased at an average price of $28.77 per share, for a total transaction of $287,700.00. Following the transaction, the director now directly owns 62,000 shares of the company’s stock, valued at approximately $1,783,740. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 16.90% of the stock is owned by insiders.

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.