HC Wainwright Analysts Lower Earnings Estimates for CECO

CECO Environmental Corp. (NASDAQ:CECO) – Investment analysts at HC Wainwright lowered their Q4 2024 EPS estimates for CECO Environmental in a research note issued on Wednesday, October 30th. HC Wainwright analyst A. Dayal now expects that the company will post earnings of $0.31 per share for the quarter, down from their previous forecast of $0.43. HC Wainwright currently has a “Buy” rating and a $35.00 target price on the stock. The consensus estimate for CECO Environmental’s current full-year earnings is $0.82 per share. HC Wainwright also issued estimates for CECO Environmental’s Q1 2025 earnings at $0.14 EPS, Q3 2025 earnings at $0.32 EPS and FY2025 earnings at $1.33 EPS.

CECO Environmental (NASDAQ:CECO) last announced its earnings results on Tuesday, October 29th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.05). The company had revenue of $135.50 million for the quarter, compared to analysts’ expectations of $155.94 million. CECO Environmental had a net margin of 2.16% and a return on equity of 11.12%. CECO Environmental’s quarterly revenue was down 9.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.22 earnings per share.

Several other equities research analysts have also commented on the stock. Roth Mkm upped their price target on shares of CECO Environmental from $26.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Needham & Company LLC reduced their target price on shares of CECO Environmental from $35.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday. Craig Hallum increased their price target on shares of CECO Environmental from $28.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Northland Securities boosted their price objective on shares of CECO Environmental from $28.00 to $35.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $34.40.

CECO Environmental Stock Down 1.4 %

CECO Environmental stock opened at $23.47 on Friday. CECO Environmental has a one year low of $15.65 and a one year high of $31.55. The stock has a fifty day moving average of $27.08 and a 200 day moving average of $26.47. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.30. The stock has a market cap of $820.98 million, a PE ratio of 71.12, a price-to-earnings-growth ratio of 2.00 and a beta of 1.33.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. lifted its holdings in shares of CECO Environmental by 17.6% in the third quarter. Principal Financial Group Inc. now owns 22,246 shares of the company’s stock worth $627,000 after buying an additional 3,330 shares in the last quarter. Van ECK Associates Corp increased its holdings in CECO Environmental by 466.4% in the 3rd quarter. Van ECK Associates Corp now owns 379,877 shares of the company’s stock valued at $10,082,000 after acquiring an additional 312,803 shares during the last quarter. Private Advisor Group LLC lifted its stake in CECO Environmental by 5.8% in the 3rd quarter. Private Advisor Group LLC now owns 16,065 shares of the company’s stock worth $453,000 after purchasing an additional 885 shares in the last quarter. Eastern Bank bought a new position in shares of CECO Environmental during the 3rd quarter valued at about $113,000. Finally, Allspring Global Investments Holdings LLC grew its position in shares of CECO Environmental by 65.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 484,518 shares of the company’s stock valued at $13,663,000 after purchasing an additional 191,286 shares in the last quarter. 68.08% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Richard F. Wallman bought 10,000 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were bought at an average price of $28.77 per share, for a total transaction of $287,700.00. Following the purchase, the director now owns 62,000 shares in the company, valued at $1,783,740. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 16.90% 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.