Northland Capmk Has Negative Outlook of CECO FY2024 Earnings

CECO Environmental Corp. (NASDAQ:CECO) – Analysts at Northland Capmk cut their FY2024 earnings estimates for shares of CECO Environmental in a research report issued on Wednesday, January 22nd. Northland Capmk analyst B. Brooks now expects that the company will earn $0.62 per share for the year, down from their previous estimate 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 announced its quarterly 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). The firm had revenue of $135.50 million for the quarter, compared to the consensus estimate of $155.94 million. CECO Environmental had a net margin of 2.16% and a return on equity of 11.12%. CECO Environmental’s revenue was down 9.3% on a year-over-year basis. During the same period last year, the business earned $0.22 EPS.

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

CECO Environmental Stock Up 2.9 %

CECO stock opened at $30.43 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. CECO Environmental has a 1-year low of $18.50 and a 1-year high of $35.16. The stock has a market capitalization of $1.06 billion, a P/E ratio of 92.21, a P/E/G ratio of 1.78 and a beta of 1.43. The business has a fifty day moving average price of $31.07 and a 200-day moving average price of $28.66.

Institutional Investors Weigh In On CECO Environmental

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC increased its stake in shares of CECO Environmental by 23.5% in the third quarter. FMR LLC now owns 786,308 shares of the company’s stock worth $22,174,000 after purchasing an additional 149,777 shares in the last quarter. Geode Capital Management LLC increased its stake in CECO Environmental by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 689,487 shares of the company’s stock worth $19,448,000 after buying an additional 11,857 shares in the last quarter. Driehaus Capital Management LLC raised its holdings in CECO Environmental by 37.4% during the second quarter. Driehaus Capital Management LLC now owns 586,249 shares of the company’s stock valued at $16,913,000 after acquiring an additional 159,485 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of CECO Environmental by 65.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 484,518 shares of the company’s stock valued at $13,663,000 after acquiring an additional 191,286 shares in the last quarter. Finally, Thrivent Financial for Lutherans bought a new position in shares of CECO Environmental in the second quarter worth about $11,857,000. Institutional investors 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.