Equities research analysts forecast that CECO Environmental Corp. (NASDAQ:CECE) will report $0.19 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for CECO Environmental Corp.’s earnings. The highest EPS estimate is $0.21 and the lowest is $0.15. CECO Environmental Corp. posted earnings per share of $0.21 during the same quarter last year, which would suggest a negative year-over-year growth rate of 9.5%. The business is expected to announce its next earnings report on Tuesday, August 8th.
According to Zacks, analysts expect that CECO Environmental Corp. will report full-year earnings of $0.81 per share for the current year, with EPS estimates ranging from $0.74 to $0.87. For the next year, analysts expect that the company will post earnings of $0.89 per share, with EPS estimates ranging from $0.77 to $0.96. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for CECO Environmental Corp..
CECO Environmental Corp. (NASDAQ:CECE) last announced its earnings results on Wednesday, May 10th. The industrial products company reported $0.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.02. CECO Environmental Corp. had a net margin of 2.35% and a return on equity of 11.22%. The company had revenue of $92.70 million during the quarter, compared to the consensus estimate of $97.10 million. During the same period in the previous year, the firm posted $0.18 earnings per share. The company’s revenue was down 10.2% on a year-over-year basis.
A number of equities research analysts have recently weighed in on CECE shares. TheStreet downgraded shares of CECO Environmental Corp. from a “b-” rating to a “c-” rating in a research note on Thursday, March 9th. Needham & Company LLC restated a “buy” rating and issued a $13.00 price target on shares of CECO Environmental Corp. in a research note on Thursday, February 16th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $11.00 price target on shares of CECO Environmental Corp. in a research note on Thursday, March 16th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $13.25.
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Shares of CECO Environmental Corp. (NASDAQ:CECE) traded up 3.77% during trading on Thursday, hitting $9.63. 118,847 shares of the company’s stock were exchanged. CECO Environmental Corp. has a 1-year low of $8.16 and a 1-year high of $14.88. The stock’s 50-day moving average price is $10.19 and its 200-day moving average price is $11.83. The stock’s market cap is $331.86 million.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 16th will be issued a $0.075 dividend. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $0.30 dividend on an annualized basis and a yield of 3.12%. CECO Environmental Corp.’s dividend payout ratio (DPR) is presently 89.66%.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. raised its position in shares of CECO Environmental Corp. by 60.1% in the first quarter. Goldman Sachs Group Inc. now owns 71,613 shares of the industrial products company’s stock worth $753,000 after buying an additional 26,892 shares during the period. Gotham Asset Management LLC acquired a new position in shares of CECO Environmental Corp. during the first quarter worth about $135,000. Highbridge Capital Management LLC acquired a new position in shares of CECO Environmental Corp. during the first quarter worth about $697,000. Bank of America Corp DE raised its position in shares of CECO Environmental Corp. by 32.8% in the first quarter. Bank of America Corp DE now owns 21,696 shares of the industrial products company’s stock worth $228,000 after buying an additional 5,353 shares during the period. Finally, Lucus Advisors LLC acquired a new position in shares of CECO Environmental Corp. during the first quarter worth about $219,000. Institutional investors and hedge funds own 58.06% of the company’s stock.
CECO Environmental Corp. Company Profile
CECO Environmental Corp. is a provider of engineered technologies to the environmental, energy, and fluid handling and filtration industrial segments. The Company is focused on engineering, designing, building and installing systems that capture, clean and destroy airborne contaminants from industrial facilities, as well as equipment that controls emissions from such facilities, and fluid handling and filtration systems.
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