Q3 2024 EPS Estimates for CECO Environmental Corp. (NASDAQ:CECO) Boosted by HC Wainwright

CECO Environmental Corp. (NASDAQ:CECO) – Equities researchers at HC Wainwright upped their Q3 2024 EPS estimates for CECO Environmental in a research note issued on Wednesday, May 1st. HC Wainwright analyst A. Dayal now forecasts that the company will earn $0.30 per share for the quarter, up from their previous estimate of $0.27. HC Wainwright currently has a “Buy” rating and a $30.00 target price on the stock. The consensus estimate for CECO Environmental’s current full-year earnings is $0.94 per share. HC Wainwright also issued estimates for CECO Environmental’s Q4 2024 earnings at $0.37 EPS and FY2025 earnings at $1.41 EPS.

Other equities research analysts have also issued reports about the stock. Craig Hallum boosted their target price on shares of CECO Environmental from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday. Needham & Company LLC increased their target price on CECO Environmental from $23.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday. Roth Mkm boosted their price target on CECO Environmental from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Finally, Northland Securities increased their price objective on shares of CECO Environmental from $27.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 6th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $27.40.

CECO Environmental Stock Performance

Shares of CECO stock opened at $22.45 on Friday. The firm has a market capitalization of $784.40 million, a PE ratio of 64.14, a P/E/G ratio of 1.57 and a beta of 1.24. The company has a 50 day moving average price of $22.70 and a 200-day moving average price of $20.36. CECO Environmental has a 52 week low of $10.68 and a 52 week high of $25.82. The company has a quick ratio of 1.22, a current ratio of 1.38 and a debt-to-equity ratio of 0.53.

CECO Environmental (NASDAQ:CECO) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.11 EPS for the quarter, meeting the consensus estimate of $0.11. CECO Environmental had a return on equity of 11.57% and a net margin of 2.23%. The company had revenue of $126.30 million for the quarter, compared to analysts’ expectations of $135.82 million. During the same period last year, the firm posted $0.10 earnings per share. CECO Environmental’s revenue was up 12.2% compared to the same quarter last year.

Institutional Trading of CECO Environmental

Several hedge funds have recently bought and sold shares of the stock. Essex Investment Management Co. LLC grew its position in shares of CECO Environmental by 1.6% during the first quarter. Essex Investment Management Co. LLC now owns 205,982 shares of the company’s stock valued at $4,742,000 after purchasing an additional 3,147 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in CECO Environmental by 247.5% during the 1st quarter. BNP Paribas Financial Markets now owns 44,520 shares of the company’s stock valued at $1,025,000 after buying an additional 31,707 shares in the last quarter. Precision Wealth Strategies LLC purchased a new position in CECO Environmental during the 1st quarter valued at approximately $255,000. Principal Financial Group Inc. purchased a new stake in shares of CECO Environmental during the 1st quarter worth approximately $379,000. Finally, Robeco Schweiz AG bought a new position in shares of CECO Environmental during the 1st quarter valued at approximately $2,738,000. Hedge funds and other institutional investors own 68.08% of the company’s stock.

Insiders Place Their Bets

In other news, Director Richard F. Wallman bought 5,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were bought at an average price of $21.95 per share, for a total transaction of $109,750.00. Following the purchase, the director now owns 191,853 shares in the company, valued at $4,211,173.35. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other CECO Environmental news, Director Richard F. Wallman purchased 5,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were bought at an average cost of $21.95 per share, with a total value of $109,750.00. Following the acquisition, the director now owns 191,853 shares in the company, valued at $4,211,173.35. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Laurie Siegel acquired 2,500 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were bought at an average cost of $19.87 per share, with a total value of $49,675.00. Following the completion of the acquisition, the director now owns 7,906 shares in the company, valued at $157,092.22. The disclosure for this purchase can be found here. Company insiders own 16.90% 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.