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

CECO Environmental (NASDAQ:CECO) released its quarterly earnings data on Tuesday. The company reported $0.20 earnings per share 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 business had revenue of $137.50 million for the quarter, compared to analyst estimates of $143.33 million. During the same quarter last year, the firm earned $0.15 EPS. CECO Environmental’s quarterly revenue 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 %

CECO traded down $0.69 during trading on Thursday, reaching $28.51. The company had a trading volume of 284,916 shares, compared to its average volume of 287,283. The business’s fifty day moving average price is $26.81 and its 200 day moving average price is $23.71. 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 company has a market cap of $996.14 million, a P/E ratio of 81.46, a PEG ratio of 2.02 and a beta of 1.37. CECO Environmental has a 12 month low of $11.46 and a 12 month high of $31.55.

Insider Transactions at CECO Environmental

In other CECO Environmental news, Director Richard F. Wallman acquired 4,000 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were acquired at an average price of $24.50 per share, with a total value of $98,000.00. Following the completion of the transaction, the director now directly owns 205,319 shares in the company, valued at approximately $5,030,315.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 16.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CECO. HC Wainwright lifted their price objective on shares of CECO Environmental from $30.00 to $35.00 and gave the stock 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 stock 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 stock a “buy” rating in a research note on Wednesday. Northland Securities lifted their price target on shares of CECO Environmental from $28.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Craig Hallum lifted their price target on shares of CECO Environmental from $28.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, CECO Environmental currently has a consensus 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.