CECO Environmental (NASDAQ:CECO) Issues Quarterly Earnings Results, Beats Expectations By $0.04 EPS

CECO Environmental (NASDAQ:CECO) released its earnings results on Tuesday. The company reported $0.20 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $143.33 million. During the same period in the prior year, the business earned $0.15 earnings per share. The business’s quarterly revenue was up 6.4% on a year-over-year basis. CECO Environmental updated its FY 2024 guidance to EPS.

CECO Environmental Trading Down 2.4 %

Shares of NASDAQ:CECO traded down $0.69 during mid-day trading on Thursday, hitting $28.51. The stock had a trading volume of 284,916 shares, compared to its average volume of 287,283. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.19 and a current ratio of 1.36. The company has a market cap of $996.14 million, a PE ratio of 81.46, a P/E/G 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. The company’s 50 day moving average is $26.81 and its 200-day moving average is $23.71.

Analyst Ratings Changes

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

Insiders Place Their Bets

In related news, Director Richard F. Wallman bought 4,000 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was bought at an average price of $24.50 per share, for a total transaction of $98,000.00. Following the transaction, the director now directly owns 205,319 shares in the company, valued at $5,030,315.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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.