Zacks: Analysts Anticipate CECO Environmental Corp. (NASDAQ:CECE) to Post $0.09 EPS

Brokerages predict that CECO Environmental Corp. (NASDAQ:CECE) will post $0.09 earnings per share for the current quarter, Zacks reports. Two analysts have made estimates for CECO Environmental’s earnings. CECO Environmental posted earnings of $0.14 per share during the same quarter last year, which would indicate a negative year over year growth rate of 35.7%. The firm is scheduled to issue its next quarterly earnings results before the market opens on Tuesday, August 3rd.

On average, analysts expect that CECO Environmental will report full-year earnings of $0.44 per share for the current financial year, with EPS estimates ranging from $0.42 to $0.46. For the next year, analysts forecast that the company will post earnings of $0.63 per share, with EPS estimates ranging from $0.60 to $0.65. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for CECO Environmental.

CECO Environmental (NASDAQ:CECE) last issued its quarterly earnings data on Thursday, May 6th. The industrial products company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). CECO Environmental had a return on equity of 8.63% and a net margin of 1.95%. The company had revenue of $71.89 million for the quarter, compared to analyst estimates of $76.53 million.

Separately, Zacks Investment Research upgraded shares of CECO Environmental from a “sell” rating to a “hold” rating in a report on Tuesday.

Shares of NASDAQ:CECE traded down $0.25 during midday trading on Thursday, reaching $7.03. 301 shares of the company were exchanged, compared to its average volume of 86,504. CECO Environmental has a fifty-two week low of $5.95 and a fifty-two week high of $9.47. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.56 and a current ratio of 1.71. The stock’s fifty day moving average price is $7.60. The firm has a market cap of $250.27 million, a price-to-earnings ratio of 43.94, a PEG ratio of 1.06 and a beta of 1.29.

A number of hedge funds have recently modified their holdings of the business. Squarepoint Ops LLC increased its stake in CECO Environmental by 18.7% in the 1st quarter. Squarepoint Ops LLC now owns 27,190 shares of the industrial products company’s stock valued at $216,000 after buying an additional 4,281 shares during the last quarter. Millennium Management LLC increased its stake in CECO Environmental by 328.4% in the 1st quarter. Millennium Management LLC now owns 123,293 shares of the industrial products company’s stock valued at $978,000 after buying an additional 94,514 shares during the last quarter. D. E. Shaw & Co. Inc. increased its stake in shares of CECO Environmental by 13.7% during the 1st quarter. D. E. Shaw & Co. Inc. now owns 25,780 shares of the industrial products company’s stock worth $204,000 after purchasing an additional 3,107 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of CECO Environmental during the 1st quarter worth about $81,000. Finally, Nuveen Asset Management LLC increased its stake in shares of CECO Environmental by 10.1% during the 1st quarter. Nuveen Asset Management LLC now owns 154,648 shares of the industrial products company’s stock worth $1,227,000 after purchasing an additional 14,197 shares during the last quarter. Hedge funds and other institutional investors own 68.04% of the company’s stock.

CECO Environmental Company Profile

CECO Environmental Corp. provides industrial air quality and fluid handling systems for the energy, industrial, and other niche markets worldwide. It operates through three segments: Energy Solutions, Industrial Solutions, and Fluid Handling 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.

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