What is HC Wainwright’s Forecast for CECO FY2024 Earnings?

CECO Environmental Corp. (NASDAQ:CECO) – Stock analysts at HC Wainwright dropped their FY2024 earnings 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 per share of $0.77 for the year, down from their prior forecast of $0.96. 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 $0.93 per share. HC Wainwright also issued estimates for CECO Environmental’s Q2 2025 earnings at $0.24 EPS and Q4 2025 earnings at $0.64 EPS.

CECO has been the topic of several other reports. 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 note on Wednesday. Craig Hallum raised their price objective on shares of CECO Environmental from $28.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Roth Mkm upped their target price on shares of CECO Environmental from $26.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Northland Securities lifted their price target on CECO Environmental from $28.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, CECO Environmental presently has an average rating of “Buy” and an average price target of $34.40.

CECO Environmental Trading Up 9.0 %

NASDAQ:CECO opened at $24.59 on Thursday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 1.17. The business’s 50-day simple moving average is $27.26 and its 200-day simple moving average is $26.48. CECO Environmental has a fifty-two week low of $15.65 and a fifty-two week high of $31.55. The stock has a market capitalization of $859.08 million, a PE ratio of 70.26, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33.

CECO Environmental (NASDAQ:CECO) last posted its earnings results on Tuesday, October 29th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.05). CECO Environmental had a return on equity of 12.35% and a net margin of 2.33%. The business had revenue of $135.50 million for the quarter, compared to the consensus estimate of $155.94 million. During the same quarter in the prior year, the firm posted $0.22 earnings per share. The business’s revenue was down 9.3% on a year-over-year basis.

Insider Activity at CECO Environmental

In other CECO Environmental news, Director Richard F. Wallman acquired 10,000 shares of CECO Environmental stock in a transaction dated Friday, August 30th. The stock was bought at an average cost of $28.77 per share, for a total transaction of $287,700.00. Following the purchase, the director now directly owns 62,000 shares in the company, valued at approximately $1,783,740. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 16.90% of the stock is owned by insiders.

Institutional Trading of CECO Environmental

A number of hedge funds and other institutional investors have recently modified their holdings of CECO. BNP Paribas Financial Markets increased its holdings in CECO Environmental by 247.5% during the first quarter. BNP Paribas Financial Markets now owns 44,520 shares of the company’s stock worth $1,025,000 after buying an additional 31,707 shares during the last quarter. Boston Partners bought a new stake in shares of CECO Environmental in the 1st quarter valued at about $516,000. Vanguard Group Inc. lifted its stake in CECO Environmental by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 1,526,395 shares of the company’s stock valued at $35,138,000 after purchasing an additional 24,812 shares during the last quarter. Sei Investments Co. raised its stake in CECO Environmental by 35.2% in the first quarter. Sei Investments Co. now owns 70,129 shares of the company’s stock valued at $1,614,000 after buying an additional 18,272 shares during the period. Finally, Hood River Capital Management LLC bought a new stake in CECO Environmental in the second quarter valued at approximately $15,495,000. Institutional investors and hedge funds own 68.08% of the company’s stock.

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.