CECO Environmental (NASDAQ:CECO) Announces Earnings Results

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

CECO Environmental Stock Down 2.4 %

Shares of NASDAQ:CECO traded down $0.69 during midday trading on Thursday, reaching $28.51. The company had a trading volume of 270,688 shares, compared to its average volume of 287,186. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 1.19. The stock’s fifty day moving average price is $26.81 and its 200-day moving average price is $23.71. The stock has a market capitalization of $996.14 million, a P/E ratio of 83.43, a PEG ratio of 2.02 and a beta of 1.37. CECO Environmental has a one year low of $11.46 and a one year high of $31.55.

Insider Buying and Selling

In other CECO Environmental news, Director Richard F. Wallman acquired 4,000 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was purchased at an average price of $24.50 per share, with a total value of $98,000.00. Following the completion of the acquisition, the director now directly owns 205,319 shares in the company, valued at approximately $5,030,315.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 16.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CECO shares. HC Wainwright lifted their price objective on shares of CECO Environmental from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday. Craig Hallum lifted their price objective on shares of CECO Environmental from $28.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday. Roth Mkm lifted their price objective on shares of CECO Environmental from $26.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday. Needham & Company LLC lifted their price objective on shares of CECO Environmental from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Northland Securities lifted their price target on shares of CECO Environmental from $28.00 to $35.00 and gave the stock an “outperform” rating in a research note on Thursday. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $34.80.

About CECO Environmental

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.