CECO Environmental Corp. (NASDAQ:CECE) Given Consensus Recommendation of “Buy” by Analysts
CECO Environmental Corp. (NASDAQ:CECE) has been given an average recommendation of “Buy” by the eight analysts that are presently covering the stock. Two research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $11.08.
Several research analysts have recently issued reports on CECE shares. Zacks Investment Research raised CECO Environmental Corp. from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Monday, September 19th. Needham & Company LLC upped their price objective on CECO Environmental Corp. from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, August 10th.
CECO Environmental Corp. (NASDAQ:CECE) opened at 10.77 on Wednesday. CECO Environmental Corp. has a 52 week low of $5.60 and a 52 week high of $11.75. The company’s market cap is $365.76 million. The firm has a 50-day moving average of $11.01 and a 200-day moving average of $8.75.
CECO Environmental Corp. (NASDAQ:CECE) last posted its earnings results on Tuesday, August 9th. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.03. The firm earned $112.30 million during the quarter, compared to analysts’ expectations of $107.03 million. CECO Environmental Corp. had a negative net margin of 0.18% and a positive return on equity of 11.06%. The business’s revenue for the quarter was up 29.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.32 earnings per share. Equities analysts forecast that CECO Environmental Corp. will post $0.80 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were given a dividend of $0.066 per share. This represents a $0.26 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date was Wednesday, September 14th. CECO Environmental Corp.’s dividend payout ratio is presently -520.00%.
A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of Montreal Can purchased a new stake in CECO Environmental Corp. during the second quarter worth $106,000. BlackRock Advisors LLC increased its stake in CECO Environmental Corp. by 1.6% in the second quarter. BlackRock Advisors LLC now owns 12,757 shares of the company’s stock worth $111,000 after buying an additional 195 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its stake in CECO Environmental Corp. by 8.9% in the first quarter. Metropolitan Life Insurance Co. NY now owns 19,034 shares of the company’s stock worth $118,000 after buying an additional 1,561 shares in the last quarter. IFP Advisors Inc increased its stake in CECO Environmental Corp. by 285,714.3% in the first quarter. IFP Advisors Inc now owns 20,007 shares of the company’s stock worth $124,000 after buying an additional 20,000 shares in the last quarter. Finally, Van Hulzen Asset Management LLC purchased a new stake in CECO Environmental Corp. during the second quarter worth $126,000. 53.82% of the stock is owned by institutional investors and hedge funds.
About CECO Environmental Corp.
CECO Environmental Corp. is a provider of engineered technologies to the environmental, energy, and fluid handling and filtration industrial segments. The Company focuses 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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