CECO Environmental (NASDAQ:CECO) Issues Earnings Results

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

CECO Environmental Price Performance

CECO traded down $0.48 on Thursday, reaching $28.72. The company had a trading volume of 72,442 shares, compared to its average volume of 285,838. The company has a market cap of $1.00 billion, a price-to-earnings ratio of 83.43, a P/E/G ratio of 2.02 and a beta of 1.37. CECO Environmental has a 52-week low of $11.46 and a 52-week high of $31.55. The business has a 50 day simple moving average of $26.81 and a 200 day simple moving average of $23.71. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.19 and a current ratio of 1.36.

Analysts Set New Price Targets

CECO has been the topic of a number of recent analyst reports. Northland Securities increased their price target on shares of CECO Environmental from $28.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday. Roth Mkm increased their price target on shares of CECO Environmental from $26.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday. HC Wainwright increased their price target on shares of CECO Environmental from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday. Needham & Company LLC increased their price target on shares of CECO Environmental from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Craig Hallum increased their price target on shares of CECO Environmental from $28.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, CECO Environmental presently has an average rating of “Buy” and an average price target of $34.80.

Insiders Place Their Bets

In other CECO Environmental news, Director Richard F. Wallman purchased 4,000 shares of the firm’s stock in a transaction 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 completion of the purchase, the director now 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 can be accessed through this link. 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.