Zacks: Brokerages Anticipate CECO Environmental Corp. (NASDAQ:CECE) Will Post Quarterly Sales of $85.37 Million

Equities analysts expect that CECO Environmental Corp. (NASDAQ:CECE) will announce $85.37 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for CECO Environmental’s earnings, with the highest sales estimate coming in at $85.40 million and the lowest estimate coming in at $85.34 million. CECO Environmental posted sales of $85.27 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 0.1%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, November 4th.

According to Zacks, analysts expect that CECO Environmental will report full-year sales of $328.45 million for the current fiscal year, with estimates ranging from $328.00 million to $328.90 million. For the next fiscal year, analysts anticipate that the business will report sales of $355.71 million, with estimates ranging from $353.62 million to $357.80 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover CECO Environmental.

CECO Environmental (NASDAQ:CECE) last posted its quarterly earnings results on Wednesday, August 5th. The industrial products company reported $0.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.06. CECO Environmental had a net margin of 5.15% and a return on equity of 12.55%. The firm had revenue of $75.17 million for the quarter, compared to analyst estimates of $71.70 million.

CECE has been the topic of several research analyst reports. HC Wainwright reissued a “buy” rating and issued a $9.00 price objective on shares of CECO Environmental in a research report on Thursday, August 6th. Roth Capital reissued a “buy” rating and issued a $9.00 price objective on shares of CECO Environmental in a research report on Monday, June 15th. BidaskClub lowered shares of CECO Environmental from a “buy” rating to a “hold” rating in a research report on Thursday, September 24th. Needham & Company LLC reissued a “buy” rating and issued a $10.00 price objective on shares of CECO Environmental in a research report on Monday, August 10th. Finally, Zacks Investment Research raised shares of CECO Environmental from a “hold” rating to a “buy” rating and set a $7.00 price objective on the stock in a research report on Tuesday, July 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $9.00.

Shares of CECE traded down $0.06 during trading hours on Tuesday, hitting $7.30. The company had a trading volume of 32,574 shares, compared to its average volume of 85,122. The firm has a market cap of $259.11 million, a price-to-earnings ratio of 15.21, a PEG ratio of 0.86 and a beta of 1.42. The business has a fifty day moving average of $8.21 and a 200-day moving average of $6.28. CECO Environmental has a 12 month low of $3.53 and a 12 month high of $9.00. The company has a quick ratio of 1.52, a current ratio of 1.70 and a debt-to-equity ratio of 0.38.

In other news, Director David B. Liner acquired 5,000 shares of CECO Environmental stock in a transaction on Thursday, August 13th. The shares were purchased at an average cost of $8.65 per share, for a total transaction of $43,250.00. Following the completion of the purchase, the director now directly owns 70,014 shares of the company’s stock, valued at approximately $605,621.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jason Dezwirek acquired 25,000 shares of CECO Environmental stock in a transaction on Thursday, August 6th. The shares were purchased at an average price of $7.66 per share, for a total transaction of $191,500.00. Following the completion of the purchase, the director now directly owns 1,490,988 shares of the company’s stock, valued at $11,420,968.08. The disclosure for this purchase can be found here. Insiders purchased 33,000 shares of company stock worth $259,770 over the last 90 days. 13.30% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the business. King Luther Capital Management Corp grew its stake in CECO Environmental by 8.0% during the first quarter. King Luther Capital Management Corp now owns 2,389,978 shares of the industrial products company’s stock worth $11,161,000 after buying an additional 176,168 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in shares of CECO Environmental by 12.1% in the first quarter. Alliancebernstein L.P. now owns 31,600 shares of the industrial products company’s stock worth $148,000 after acquiring an additional 3,400 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of CECO Environmental by 4.1% in the first quarter. Geode Capital Management LLC now owns 442,046 shares of the industrial products company’s stock worth $2,064,000 after acquiring an additional 17,453 shares during the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of CECO Environmental by 8.6% in the first quarter. Nuveen Asset Management LLC now owns 116,993 shares of the industrial products company’s stock worth $547,000 after acquiring an additional 9,273 shares during the last quarter. Finally, LSV Asset Management bought a new position in shares of CECO Environmental in the second quarter worth about $85,000. Hedge funds and other institutional investors own 70.09% 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, Industrial Solutions, and Fluid Handling 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.

Featured Article: Balance Sheet

Get a free copy of the Zacks research report on CECO Environmental (CECE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for CECO Environmental Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CECO Environmental and related companies with MarketBeat.com's FREE daily email newsletter.