CECO Environmental (NASDAQ:CECO) Posts Quarterly Earnings Results, Beats Estimates By $0.04 EPS

CECO Environmental (NASDAQ:CECO) issued its quarterly earnings data on Tuesday. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.16 by $0.04, Briefing.com reports. CECO Environmental had a net margin of 2.33% and a return on equity of 12.35%. The firm had revenue of $137.50 million for the quarter, compared to analyst estimates of $143.33 million. During the same period in the prior year, the business posted $0.15 EPS. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. CECO Environmental updated its FY 2024 guidance to EPS.

CECO Environmental Stock Down 2.4 %

Shares of CECO traded down $0.69 during midday trading on Thursday, reaching $28.51. The stock had a trading volume of 284,916 shares, compared to its average volume of 287,283. CECO Environmental has a 1-year low of $11.46 and a 1-year high of $31.55. The company’s fifty day simple moving average is $26.81 and its two-hundred day simple moving average is $23.71. The company has a market cap of $996.14 million, a price-to-earnings ratio of 81.46, a PEG ratio of 2.02 and a beta of 1.37. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 1.19.

Insider Activity

In related news, Director Richard F. Wallman bought 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The shares were purchased at an average cost of $24.50 per share, with a total value of $98,000.00. Following the transaction, the director now directly owns 205,319 shares of the company’s stock, valued at approximately $5,030,315.50. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 16.90% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on CECO shares. Roth Mkm upped their price objective on shares of CECO Environmental from $26.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday. Craig Hallum increased their target price on shares of CECO Environmental from $28.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday. Needham & Company LLC increased their target price on shares of CECO Environmental from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday. Northland Securities increased their target price on shares of CECO Environmental from $28.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, HC Wainwright increased their target price on shares of CECO Environmental from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $34.80.

CECO Environmental Company Profile

CECO Environmental Corp. provides critical solutions in industrial air quality, industrial water treatment, and energy transition solutions worldwide. It operates in two segments: Engineered Systems and Industrial Process Solutions. The company engineers, designs, manufactures, and installs non-metallic expansion joints and flow control products, including rubber expansion joints, ducting expansion joints, and industrial pinch and duck bill valves; membrane-based industrial water and wastewater treatment systems; and provides dust and fume extraction solutions comprising consultation, design, manufacturing, installation, and service, as well as water and wastewater treatment solutions.