Roth Capital Cuts Earnings Estimates for CECO Environmental

CECO Environmental Corp. (NASDAQ:CECO) – Equities research analysts at Roth Capital cut their FY2024 EPS estimates for CECO Environmental in a research report issued to clients and investors on Friday, January 17th. Roth Capital analyst G. Sweeney now forecasts 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.

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

Several other analysts have also issued reports on CECO. Northland Securities increased their target price on CECO Environmental from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. HC Wainwright downgraded shares of CECO Environmental from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Craig Hallum boosted their target price on shares of CECO Environmental from $34.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Finally, Needham & Company LLC reduced 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 investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $36.20.

CECO Environmental Trading Up 4.0 %

Shares of NASDAQ:CECO opened at $30.78 on Monday. The business’s 50 day simple moving average is $30.90 and its 200 day simple moving average 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. The company has a market capitalization of $1.08 billion, a P/E ratio of 93.28, a P/E/G ratio of 1.60 and a beta of 1.43.

Hedge Funds Weigh In On CECO Environmental

Institutional investors have recently added to or reduced their stakes in the stock. Essex Investment Management Co. LLC increased its holdings in shares of CECO Environmental by 0.3% during the third quarter. Essex Investment Management Co. LLC now owns 208,426 shares of the company’s stock worth $5,878,000 after buying an additional 562 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of CECO Environmental by 71.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,416 shares of the company’s stock valued at $40,000 after acquiring an additional 591 shares in the last quarter. Private Advisor Group LLC increased its holdings 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. Quest Partners LLC bought a new position in CECO Environmental in the third quarter valued at about $69,000. Finally, Morse Asset Management Inc acquired a new stake in shares of CECO Environmental during the third quarter valued at about $76,000. 68.08% of the stock is currently owned by institutional investors and hedge funds.

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.