Q2 2024 Earnings Forecast for CECO Environmental Corp. (NASDAQ:CECO) Issued By Northland Capmk

CECO Environmental Corp. (NASDAQ:CECO) – Research analysts at Northland Capmk reduced their Q2 2024 EPS estimates for CECO Environmental in a report issued on Tuesday, April 30th. Northland Capmk analyst B. Brooks now anticipates that the company will earn $0.18 per share for the quarter, down from their prior estimate of $0.19. The consensus estimate for CECO Environmental’s current full-year earnings is $0.96 per share. Northland Capmk also issued estimates for CECO Environmental’s Q4 2024 earnings at $0.36 EPS, FY2024 earnings at $0.93 EPS and Q1 2025 earnings at $0.19 EPS.

CECO Environmental (NASDAQ:CECO) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.11 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.11. The business had revenue of $126.30 million during the quarter, compared to analyst estimates of $135.82 million. CECO Environmental had a net margin of 2.23% and a return on equity of 11.57%. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter last year, the business earned $0.10 EPS.

A number of other research firms also recently weighed in on CECO. Craig Hallum increased their target price on shares of CECO Environmental from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday. Needham & Company LLC increased their target price on shares of CECO Environmental from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday. Northland Securities increased their target price on shares of CECO Environmental from $27.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday, March 6th. Roth Mkm increased their target price on shares of CECO Environmental from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Finally, HC Wainwright reissued a “buy” rating and set a $30.00 target price on shares of CECO Environmental in a research report on Wednesday. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, CECO Environmental currently has an average rating of “Buy” and a consensus price target of $27.40.

CECO Environmental Stock Up 1.8 %

Shares of NASDAQ CECO opened at $22.00 on Thursday. The firm has a market cap of $767.14 million, a PE ratio of 62.86, a price-to-earnings-growth ratio of 1.50 and a beta of 1.24. The company has a 50 day simple moving average of $22.62 and a 200 day simple moving average of $20.33. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.38 and a quick ratio of 1.22. CECO Environmental has a 1 year low of $10.68 and a 1 year high of $25.82.

Institutional Investors Weigh In On CECO Environmental

Hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC purchased a new position in shares of CECO Environmental during the third quarter worth about $204,000. Trellus Management Company LLC purchased a new position in shares of CECO Environmental during the third quarter worth about $779,000. Mesirow Financial Investment Management Inc. grew its holdings in shares of CECO Environmental by 20.3% during the third quarter. Mesirow Financial Investment Management Inc. now owns 19,714 shares of the company’s stock worth $315,000 after purchasing an additional 3,328 shares in the last quarter. Jump Financial LLC grew its holdings in shares of CECO Environmental by 200.4% during the third quarter. Jump Financial LLC now owns 33,039 shares of the company’s stock worth $528,000 after purchasing an additional 22,039 shares in the last quarter. Finally, Boston Partners purchased a new position in shares of CECO Environmental during the third quarter worth about $201,000. 68.08% of the stock is currently owned by institutional investors.

Insider Transactions at CECO Environmental

In other CECO Environmental news, Director Laurie Siegel purchased 2,500 shares of CECO Environmental stock in a transaction that occurred on Wednesday, March 6th. The stock was acquired at an average price of $19.87 per share, with a total value of $49,675.00. Following the transaction, the director now owns 7,906 shares in the company, valued at approximately $157,092.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 16.90% 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.