Roth Capital Has Negative Estimate for CECO FY2024 Earnings

CECO Environmental Corp. (NASDAQ:CECO) – Stock analysts at Roth Capital reduced their FY2024 earnings per share estimates for CECO Environmental in a report issued on Friday, January 17th. Roth Capital analyst G. Sweeney now expects that the company will post earnings of $0.69 per share for the year, down from their prior estimate of $0.76. The consensus estimate for CECO Environmental’s current full-year earnings is $0.76 per share. Roth Capital also issued estimates for CECO Environmental’s Q4 2024 earnings at $0.24 EPS, Q3 2025 earnings at $0.34 EPS and Q4 2025 earnings at $0.43 EPS.

Other equities research analysts have also issued research reports about the company. HC Wainwright lowered CECO Environmental from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Craig Hallum boosted their price objective on shares of CECO Environmental from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Northland Securities raised their target price on shares of CECO Environmental from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday, December 20th. Finally, Needham & Company LLC cut their price target on shares of CECO Environmental from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, CECO Environmental presently has a consensus rating of “Moderate Buy” and an average target price of $36.20.

CECO Environmental Stock Performance

CECO opened at $30.78 on Monday. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of 93.28, a P/E/G ratio of 1.60 and a beta of 1.43. The business’s 50-day moving average price is $30.90 and its two-hundred day moving average price is $28.64. CECO Environmental has a 1 year low of $18.50 and a 1 year high of $35.16. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 1.12.

CECO Environmental (NASDAQ:CECO) last announced its earnings results on Tuesday, October 29th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.05). The company 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 11.12% and a net margin of 2.16%. The business’s quarterly revenue was down 9.3% on a year-over-year basis. During the same quarter last year, the business posted $0.22 earnings per share.

Institutional Investors Weigh In On CECO Environmental

Several hedge funds have recently bought and sold shares of the company. First Horizon Advisors Inc. raised its stake in CECO Environmental by 71.6% in the third quarter. First Horizon Advisors Inc. now owns 1,416 shares of the company’s stock valued at $40,000 after buying an additional 591 shares during the period. Quest Partners LLC bought a new stake in CECO Environmental in the 3rd quarter valued at $69,000. Morse Asset Management Inc acquired a new stake in CECO Environmental during the 3rd quarter valued at $76,000. Eastern Bank bought a new position in CECO Environmental during the third quarter worth $113,000. Finally, SG Americas Securities LLC increased its holdings in shares of CECO Environmental by 46.0% in the third quarter. SG Americas Securities LLC now owns 10,175 shares of the company’s stock valued at $287,000 after purchasing an additional 3,206 shares during the last quarter. 68.08% of the stock is currently owned by institutional investors and hedge funds.

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.