What is Roth Capital’s Forecast for CECO FY2024 Earnings?

by · The Cerbat Gem

CECO Environmental Corp. (NASDAQ:CECO – Free Report) – Roth Capital cut their FY2024 earnings estimates for shares of CECO Environmental in a research note issued on Wednesday, October 30th. Roth Capital analyst G. Sweeney now expects that the company will post earnings of $0.76 per share for the year, down from their previous forecast of $0.89. The consensus estimate for CECO Environmental’s current full-year earnings is $0.93 per share. Roth Capital also issued estimates for CECO Environmental’s FY2025 earnings at $1.06 EPS and FY2026 earnings at $1.39 EPS.

A number of other brokerages also recently issued reports on CECO. Northland Securities raised their price objective on CECO Environmental from $28.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Craig Hallum increased their price objective 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. Needham & Company LLC dropped their target price on CECO Environmental from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday. Roth Mkm increased their price objective on CECO Environmental from $26.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, HC Wainwright reiterated a “buy” rating and issued a $35.00 price target on shares of CECO Environmental in a research note on Wednesday. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, CECO Environmental presently has a consensus rating of “Buy” and a consensus target price of $34.40.

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CECO Environmental Trading Up 9.0 %

Shares of CECO opened at $24.59 on Thursday. CECO Environmental has a 12-month low of $15.65 and a 12-month high of $31.55. The firm has a market capitalization of $859.08 million, a P/E ratio of 70.26, a P/E/G ratio of 2.01 and a beta of 1.33. The firm has a 50-day moving average price of $27.26 and a 200 day moving average price of $26.48. The company has a current ratio of 1.36, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50.

CECO Environmental (NASDAQ:CECO – Get Free Report) last posted its quarterly 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 business had revenue of $135.50 million for the quarter, compared to analyst estimates of $155.94 million. CECO Environmental had a return on equity of 12.35% and a net margin of 2.33%. The business’s revenue was down 9.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.22 earnings per share.

Hedge Funds Weigh In On CECO Environmental

A number of large investors have recently bought and sold shares of the company. Principal Financial Group Inc. purchased a new stake in CECO Environmental in the 1st quarter valued at approximately $379,000. Precision Wealth Strategies LLC purchased a new stake in shares of CECO Environmental during the 1st quarter worth $255,000. BNP Paribas Financial Markets boosted its position in shares of CECO Environmental by 247.5% during the 1st quarter. BNP Paribas Financial Markets now owns 44,520 shares of the company’s stock worth $1,025,000 after purchasing an additional 31,707 shares in the last quarter. Essex Investment Management Co. LLC grew its stake in shares of CECO Environmental by 1.6% during the 1st quarter. Essex Investment Management Co. LLC now owns 205,982 shares of the company’s stock worth $4,742,000 after purchasing an additional 3,147 shares during the period. Finally, Oppenheimer & Co. Inc. acquired a new stake in shares of CECO Environmental in the first quarter valued at about $366,000. Hedge funds and other institutional investors own 68.08% of the company’s stock.

Insider Activity at CECO Environmental

In related news, Director Richard F. Wallman purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were purchased at an average price of $28.77 per share, for a total transaction of $287,700.00. Following the transaction, the director now directly owns 62,000 shares of the company’s stock, valued at approximately $1,783,740. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 16.90% of the stock is owned by insiders.

CECO Environmental Company Profile

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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.

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