CECO Environmental Corp. (NASDAQ:CECE) Expected to Announce Earnings of $0.14 Per Share

Posted by Don Miller on Dec 2nd, 2019

Equities research analysts expect that CECO Environmental Corp. (NASDAQ:CECE) will announce earnings of $0.14 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for CECO Environmental’s earnings, with the lowest EPS estimate coming in at $0.13 and the highest estimate coming in at $0.17. CECO Environmental posted earnings per share of $0.08 during the same quarter last year, which indicates a positive year over year growth rate of 75%. The firm is expected to issue its next quarterly earnings report on Thursday, March 5th.

According to Zacks, analysts expect that CECO Environmental will report full year earnings of $0.46 per share for the current fiscal year, with EPS estimates ranging from $0.45 to $0.49. For the next fiscal year, analysts expect that the business will post earnings of $0.60 per share, with EPS estimates ranging from $0.56 to $0.65. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for CECO Environmental.

CECO Environmental (NASDAQ:CECE) last issued its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.12 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.01). CECO Environmental had a return on equity of 7.91% and a net margin of 2.96%. The business had revenue of $85.27 million during the quarter, compared to analysts’ expectations of $89.53 million.

CECE has been the topic of a number of recent analyst reports. ValuEngine upgraded CECO Environmental from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. B. Riley set a $10.00 price objective on CECO Environmental and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Maxim Group reiterated a “buy” rating and issued a $10.00 price objective on shares of CECO Environmental in a research report on Thursday, November 7th. BidaskClub upgraded CECO Environmental from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. Finally, Zacks Investment Research upgraded CECO Environmental from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $10.00.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC bought a new position in CECO Environmental in the third quarter valued at $140,000. State Street Corp increased its stake in CECO Environmental by 0.3% in the third quarter. State Street Corp now owns 551,835 shares of the industrial products company’s stock valued at $3,855,000 after acquiring an additional 1,919 shares during the last quarter. California Public Employees Retirement System increased its stake in CECO Environmental by 4.8% in the third quarter. California Public Employees Retirement System now owns 209,569 shares of the industrial products company’s stock valued at $1,464,000 after acquiring an additional 9,621 shares during the last quarter. Commonwealth Equity Services LLC bought a new position in shares of CECO Environmental during the third quarter valued at about $91,000. Finally, Janney Montgomery Scott LLC grew its stake in shares of CECO Environmental by 5.6% during the third quarter. Janney Montgomery Scott LLC now owns 168,856 shares of the industrial products company’s stock valued at $1,179,000 after buying an additional 9,000 shares during the last quarter. 71.06% of the stock is currently owned by institutional investors and hedge funds.

Shares of CECE stock opened at $7.87 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.34 and a current ratio of 1.53. CECO Environmental has a 52-week low of $6.44 and a 52-week high of $9.84. The company has a market capitalization of $277.37 million, a PE ratio of 27.14, a price-to-earnings-growth ratio of 1.13 and a beta of 0.98. The business’s fifty day moving average is $7.35 and its 200 day moving average is $8.08.

CECO Environmental Company Profile

CECO Environmental Corp. provides industrial air quality and fluid handling systems for the energy, industrial, and other markets worldwide. The company operates through three segments: Energy Solutions, Environmental Solutions, and Fluid Handling and Filtration Solutions. The company engineers, designs, builds, and installs systems that capture, clean, and destroy airborne contaminants from industrial facilities, as well as equipment that control emissions from such facilities; and fluid handling and filtration systems.