CECO Environmental (NASDAQ:CECO) Issues Earnings Results

CECO Environmental (NASDAQ:CECO) announced its earnings results on Tuesday. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.05), Briefing.com reports. The company had revenue of $135.50 million during the quarter, compared to analyst estimates of $155.94 million. CECO Environmental had a net margin of 2.33% and a return on equity of 12.35%. The firm’s revenue for the quarter was down 9.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.22 EPS. CECO Environmental updated its FY 2024 guidance to EPS and its FY 2025 guidance to EPS.

CECO Environmental Stock Performance

Shares of CECO Environmental stock opened at $24.59 on Thursday. The business’s fifty day simple moving average is $27.26 and its 200-day simple moving average is $26.48. The company has a quick ratio of 1.17, a current ratio of 1.36 and a debt-to-equity ratio of 0.50. The firm has a market cap of $859.08 million, a PE ratio of 70.26, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33. CECO Environmental has a 52 week low of $15.65 and a 52 week high of $31.55.

Analyst Ratings Changes

A number of equities analysts have commented on CECO shares. Roth Mkm increased their target price on CECO Environmental from $26.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. HC Wainwright restated a “buy” rating and issued a $35.00 price objective on shares of CECO Environmental in a report on Wednesday. Craig Hallum lifted their target price on shares of CECO Environmental from $28.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Northland Securities increased their target price on shares of CECO Environmental from $28.00 to $35.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Finally, Needham & Company LLC lowered their price target on shares of CECO Environmental from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $34.40.

Insider Buying and Selling at CECO Environmental

In other news, Director Richard F. Wallman bought 10,000 shares of the company’s stock in a transaction on Friday, August 30th. The stock was bought at an average cost of $28.77 per share, with a total value of $287,700.00. Following the transaction, the director now directly owns 62,000 shares in the company, valued at $1,783,740. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 16.90% of the company’s stock.

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.