CECO Environmental Corp. (NASDAQ:CECE) Expected to Announce Earnings of $0.19 Per Share
Wall Street analysts forecast that CECO Environmental Corp. (NASDAQ:CECE) will report earnings per share of $0.19 for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for CECO Environmental Corp.’s earnings, with the highest EPS estimate coming in at $0.21 and the lowest estimate coming in at $0.15. CECO Environmental Corp. reported earnings per share of $0.21 in the same quarter last year, which would suggest a negative year-over-year growth rate of 9.5%. The business is scheduled to report its next earnings report before the market opens on Wednesday, August 9th.
On average, analysts expect that CECO Environmental Corp. will report full-year earnings of $0.81 per share for the current fiscal year, with EPS estimates ranging from $0.74 to $0.87. For the next fiscal year, analysts expect that the company will report earnings of $0.89 per share, with EPS estimates ranging from $0.77 to $0.96. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for CECO Environmental Corp..
CECO Environmental Corp. (NASDAQ:CECE) last released its quarterly earnings results on Wednesday, May 10th. The industrial products company reported $0.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.02. The firm had revenue of $92.70 million for the quarter, compared to analysts’ expectations of $97.10 million. CECO Environmental Corp. had a negative net margin of 10.15% and a positive return on equity of 15.78%. The business’s revenue was down 10.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.18 EPS.
A number of analysts recently commented on the stock. BidaskClub cut shares of CECO Environmental Corp. from a “sell” rating to a “strong sell” rating in a research note on Thursday. Zacks Investment Research upgraded shares of CECO Environmental Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th. Finally, Needham & Company LLC upgraded shares of CECO Environmental Corp. from a “buy” rating to a “strong-buy” rating and upped their price target for the company from $9.51 to $13.00 in a research note on Thursday, July 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the stock. CECO Environmental Corp. has an average rating of “Hold” and an average price target of $13.25.
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Shares of CECO Environmental Corp. (CECE) remained flat at $9.73 on Friday. The company had a trading volume of 4,394 shares. The firm’s market capitalization is $335.31 million. The stock has a 50 day moving average price of $9.62 and a 200 day moving average price of $10.81. CECO Environmental Corp. has a one year low of $8.93 and a one year high of $14.88.
The business also recently declared a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Friday, June 16th were issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend was Wednesday, June 14th. CECO Environmental Corp.’s payout ratio is -25.00%.
Several institutional investors have recently modified their holdings of the company. Eagle Global Advisors LLC raised its position in shares of CECO Environmental Corp. by 24.6% in the second quarter. Eagle Global Advisors LLC now owns 38,880 shares of the industrial products company’s stock worth $357,000 after buying an additional 7,680 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of CECO Environmental Corp. by 17.5% in the second quarter. Janney Montgomery Scott LLC now owns 40,386 shares of the industrial products company’s stock worth $371,000 after buying an additional 6,011 shares during the last quarter. Bowling Portfolio Management LLC bought a new position in shares of CECO Environmental Corp. during the second quarter worth approximately $1,095,000. Kirr Marbach & Co. LLC IN raised its position in shares of CECO Environmental Corp. by 57.3% in the second quarter. Kirr Marbach & Co. LLC IN now owns 25,680 shares of the industrial products company’s stock worth $236,000 after buying an additional 9,350 shares during the last quarter. Finally, 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 last quarter. 68.76% of the stock is currently owned by hedge funds and other institutional investors.
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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