What is Northland Capmk’s Forecast for CECO FY2024 Earnings?

CECO Environmental Corp. (NASDAQ:CECO) – Analysts at Northland Capmk dropped their FY2024 earnings per share (EPS) estimates for CECO Environmental in a report issued on Wednesday, January 22nd. Northland Capmk analyst B. Brooks now expects that the company will post earnings per share of $0.62 for the year, down from their previous forecast of $0.83. The consensus estimate for CECO Environmental’s current full-year earnings is $0.74 per share. Northland Capmk also issued estimates for CECO Environmental’s Q4 2024 earnings at $0.17 EPS.

CECO Environmental (NASDAQ:CECO) last released its quarterly 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 firm had revenue of $135.50 million for the quarter, compared to analysts’ expectations of $155.94 million. CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. The company’s quarterly revenue was down 9.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.22 earnings per share.

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

CECO Environmental Stock Performance

Shares of CECO Environmental stock opened at $29.55 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 1.12. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of 89.55, a price-to-earnings-growth ratio of 1.70 and a beta of 1.43. The business has a 50-day moving average of $31.11 and a 200 day moving average of $28.67. CECO Environmental has a 12 month low of $18.50 and a 12 month high of $35.16.

Institutional Investors Weigh In On CECO Environmental

Several institutional investors have recently added to or reduced their stakes in CECO. Calamos Advisors LLC raised its holdings in CECO Environmental by 27.7% during the fourth quarter. Calamos Advisors LLC now owns 112,075 shares of the company’s stock worth $3,388,000 after purchasing an additional 24,314 shares in the last quarter. Heck Capital Advisors LLC acquired a new stake in CECO Environmental during the 4th quarter worth $74,000. Principal Financial Group Inc. lifted its position in CECO Environmental by 17.6% in the third quarter. Principal Financial Group Inc. now owns 22,246 shares of the company’s stock valued at $627,000 after acquiring an additional 3,330 shares during the last quarter. Barclays PLC boosted its stake in CECO Environmental by 115.0% in the third quarter. Barclays PLC now owns 63,615 shares of the company’s stock valued at $1,795,000 after acquiring an additional 34,027 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in CECO Environmental by 1.7% in the third quarter. Geode Capital Management LLC now owns 689,487 shares of the company’s stock valued at $19,448,000 after acquiring an additional 11,857 shares in the last quarter. Hedge funds and other institutional investors own 68.08% 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.