Wall Street brokerages predict that CECO Environmental Corp. (NASDAQ:CECE) will post $90.02 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for CECO Environmental’s earnings, with the lowest sales estimate coming in at $89.40 million and the highest estimate coming in at $91.10 million. CECO Environmental posted sales of $93.85 million in the same quarter last year, which would indicate a negative year over year growth rate of 4.1%. The business is expected to announce its next quarterly earnings report on Thursday, March 5th.
According to Zacks, analysts expect that CECO Environmental will report full year sales of $342.47 million for the current year, with estimates ranging from $341.90 million to $343.50 million. For the next fiscal year, analysts expect that the company will report sales of $369.80 million, with estimates ranging from $368.20 million to $372.60 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow CECO Environmental.
CECO Environmental (NASDAQ:CECE) last announced its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.01). CECO Environmental had a return on equity of 7.91% and a net margin of 2.96%. The business had revenue of $85.27 million during the quarter, compared to the consensus estimate of $89.53 million.
A number of research analysts have weighed in on the stock. ValuEngine raised shares of CECO Environmental from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 price objective on shares of CECO Environmental in a research report on Wednesday, November 6th. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 target price on shares of CECO Environmental in a research note on Thursday, November 7th. BidaskClub upgraded CECO Environmental from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. Finally, Maxim Group reissued a “buy” rating and issued a $10.00 price target on shares of CECO Environmental in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $10.00.
NASDAQ CECE traded up $0.05 during trading hours on Friday, reaching $7.85. 811 shares of the company’s stock were exchanged, compared to its average volume of 53,586. The company’s 50-day moving average is $7.44 and its two-hundred day moving average is $8.05. CECO Environmental has a one year low of $6.44 and a one year high of $9.84. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.34 and a current ratio of 1.53. The company has a market capitalization of $274.87 million, a price-to-earnings ratio of 26.93, a price-to-earnings-growth ratio of 1.13 and a beta of 0.98.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of Montreal Can raised its stake in CECO Environmental by 102.9% in the 2nd quarter. Bank of Montreal Can now owns 5,153 shares of the industrial products company’s stock valued at $49,000 after acquiring an additional 2,613 shares during the period. Commonwealth Equity Services LLC acquired a new position in shares of CECO Environmental in the third quarter valued at approximately $91,000. Mackenzie Financial Corp bought a new position in shares of CECO Environmental during the second quarter worth approximately $115,000. Susquehanna International Group LLP increased its stake in shares of CECO Environmental by 3,401.8% during the second quarter. Susquehanna International Group LLP now owns 13,207 shares of the industrial products company’s stock worth $127,000 after purchasing an additional 13,607 shares during the period. Finally, Squarepoint Ops LLC acquired a new stake in CECO Environmental during the 3rd quarter worth approximately $140,000. Institutional investors own 71.06% of the company’s stock.
CECO Environmental Company Profile
CECO Environmental Corp. provides industrial air quality and fluid handling systems for the energy, industrial, and other markets worldwide. The company operates through three segments: Energy Solutions, Environmental Solutions, and Fluid Handling and Filtration Solutions. The company engineers, designs, builds, and installs systems that capture, clean, and destroy airborne contaminants from industrial facilities, as well as equipment that control emissions from such facilities; and fluid handling and filtration systems.
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