Q2 2024 Earnings Estimate for CECO Environmental Corp. Issued By HC Wainwright (NASDAQ:CECO)

CECO Environmental Corp. (NASDAQ:CECO - Free Report) - Equities researchers at HC Wainwright dropped their Q2 2024 EPS estimates for CECO Environmental in a note issued to investors on Wednesday, May 1st. HC Wainwright analyst A. Dayal now expects that the company will post earnings per share of $0.20 for the quarter, down from their previous forecast of $0.22. HC Wainwright has a "Buy" rating and a $30.00 price objective on the stock. The consensus estimate for CECO Environmental's current full-year earnings is $0.96 per share. HC Wainwright also issued estimates for CECO Environmental's FY2024 earnings at $0.99 EPS.

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

Several other analysts have also recently issued reports on the company. Roth Mkm upped their target price on CECO Environmental from $22.00 to $25.00 and gave the company a "buy" rating in a report on Wednesday, March 6th. Craig Hallum upped their price objective on shares of CECO Environmental from $25.00 to $28.00 and gave the company a "buy" rating in a report on Wednesday. Northland Securities lifted their target price on shares of CECO Environmental from $27.00 to $28.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 6th. Finally, Needham & Company LLC increased their price target on shares of CECO Environmental from $23.00 to $26.00 and gave the company a "buy" rating in a research note on Wednesday. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $27.40.

CECO Environmental Price Performance

Shares of NASDAQ:CECO traded up $0.97 during midday trading on Thursday, hitting $22.97. The company had a trading volume of 329,994 shares, compared to its average volume of 258,147. CECO Environmental has a twelve month low of $10.68 and a twelve month high of $25.82. The stock has a market cap of $800.94 million, a price-to-earnings ratio of 65.63, a price-to-earnings-growth ratio of 1.50 and a beta of 1.24. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.38 and a quick ratio of 1.22. The business's 50-day simple moving average is $22.65 and its 200-day simple moving average is $20.35.

Insider Buying and Selling

In related news, Director Laurie Siegel bought 2,500 shares of the firm's stock in a transaction on Wednesday, March 6th. The shares were bought at an average price of $19.87 per share, with a total value of $49,675.00. Following the completion of the transaction, the director now directly owns 7,906 shares of the company's stock, valued at approximately $157,092.22. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Richard F. Wallman purchased 5,000 shares of the stock in a transaction dated Wednesday, May 1st. The stock was acquired at an average cost of $21.95 per share, for a total transaction of $109,750.00. Following the completion of the transaction, the director now directly owns 191,853 shares in the company, valued at approximately $4,211,173.35. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Laurie Siegel acquired 2,500 shares of the business's stock in a transaction that occurred on Wednesday, March 6th. The stock was purchased at an average price of $19.87 per share, for a total transaction of $49,675.00. Following the acquisition, the director now directly owns 7,906 shares in the company, valued at approximately $157,092.22. The disclosure for this purchase can be found here. Corporate insiders own 16.90% of the company's stock.

Hedge Funds Weigh In On CECO Environmental

A number of hedge funds and other institutional investors have recently bought and sold shares of CECO. SG Americas Securities LLC acquired a new stake in shares of CECO Environmental during the third quarter worth about $204,000. Trellus Management Company LLC acquired a new stake in CECO Environmental during the 3rd quarter worth approximately $779,000. Mesirow Financial Investment Management Inc. lifted its holdings in CECO Environmental by 20.3% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 19,714 shares of the company's stock worth $315,000 after buying an additional 3,328 shares in the last quarter. Jump Financial LLC boosted its position in CECO Environmental by 200.4% in the 3rd quarter. Jump Financial LLC now owns 33,039 shares of the company's stock valued at $528,000 after buying an additional 22,039 shares during the period. Finally, Boston Partners acquired a new position in shares of CECO Environmental in the third quarter worth $201,000. 68.08% of the stock is currently owned by hedge funds and other institutional investors.

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.