Analysts forecast that CECO Environmental Corp. (NASDAQ:CECE) will announce $90.02 million in sales for the current quarter, Zacks reports. 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 reported sales of $93.85 million during the same quarter last year, which would suggest a negative year over year growth rate of 4.1%. The firm is expected to issue its next quarterly earnings results on Thursday, March 5th.
According to Zacks, analysts expect that CECO Environmental will report full year sales of $342.47 million for the current fiscal year, with estimates ranging from $341.90 million to $343.50 million. For the next fiscal year, analysts forecast that the firm will report sales of $369.80 million, with estimates ranging from $368.20 million to $372.60 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover CECO Environmental.
CECO Environmental (NASDAQ:CECE) last posted its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.12 EPS for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.01). CECO Environmental had a net margin of 2.96% and a return on equity of 7.91%. The business had revenue of $85.27 million during the quarter, compared to analysts’ expectations of $89.53 million.
Several research analysts have recently commented on the company. ValuEngine upgraded CECO Environmental from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price objective on shares of CECO Environmental in a research report on Wednesday, November 6th. Maxim Group reissued a “buy” rating and issued a $10.00 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, HC Wainwright restated a “buy” rating and issued a $9.00 price target on shares of CECO Environmental in a research report on Thursday, November 7th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. CECO Environmental presently has an average rating of “Buy” and a consensus price target of $10.00.
Shares of CECE stock traded up $0.05 during trading hours on Friday, reaching $7.85. The company had a trading volume of 811 shares, compared to its average volume of 53,586. 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 stock has a fifty day moving average of $7.44 and a 200-day moving average of $8.05. The company has a market capitalization of $274.87 million, a price-to-earnings ratio of 26.93, a PEG ratio of 1.13 and a beta of 0.98. CECO Environmental has a 12-month low of $6.44 and a 12-month high of $9.84.
Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its stake in CECO Environmental by 5.0% in the second quarter. BlackRock Inc. now owns 2,186,490 shares of the industrial products company’s stock valued at $20,969,000 after buying an additional 103,329 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of CECO Environmental by 66.8% in the second quarter. Wells Fargo & Company MN now owns 627,222 shares of the industrial products company’s stock worth $6,015,000 after acquiring an additional 251,116 shares during the last quarter. State Street Corp boosted its stake in shares of CECO Environmental by 0.3% in the 3rd quarter. State Street Corp now owns 551,835 shares of the industrial products company’s stock valued at $3,855,000 after purchasing an additional 1,919 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of CECO Environmental by 7.6% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 395,468 shares of the industrial products company’s stock valued at $3,793,000 after purchasing an additional 27,968 shares in the last quarter. Finally, Argent Capital Management LLC grew its holdings in shares of CECO Environmental by 7.0% during the 2nd quarter. Argent Capital Management LLC now owns 351,919 shares of the industrial products company’s stock valued at $3,375,000 after purchasing an additional 22,925 shares during the last quarter. Institutional investors own 71.06% of the company’s stock.
About CECO Environmental
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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