CECO Environmental (NASDAQ:CECO) Issues Quarterly Earnings Results, Misses Estimates By $0.05 EPS

CECO Environmental (NASDAQ:CECO) posted its earnings results on Tuesday. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.05), Briefing.com reports. CECO Environmental had a net margin of 2.16% and a return on equity of 11.12%. The business had revenue of $135.50 million during the quarter, compared to analyst estimates of $155.94 million. During the same quarter last year, the firm earned $0.22 earnings per share. CECO Environmental’s revenue was down 9.3% compared to the same quarter last year. CECO Environmental updated its FY 2024 guidance to EPS and its FY 2025 guidance to EPS.

CECO Environmental Stock Performance

Shares of CECO stock traded down $0.05 during trading hours on Friday, reaching $23.75. 105,897 shares of the company’s stock were exchanged, compared to its average volume of 262,858. CECO Environmental has a fifty-two week low of $15.65 and a fifty-two week high of $31.55. The company has a quick ratio of 1.17, a current ratio of 1.30 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $830.78 million, a P/E ratio of 72.12, a P/E/G ratio of 2.00 and a beta of 1.33. The business has a fifty day moving average price of $27.18 and a 200-day moving average price of $26.46.

Analyst Upgrades and Downgrades

CECO has been the topic of several analyst reports. Northland Securities increased their target price on shares of CECO Environmental from $28.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Needham & Company LLC cut their price objective on CECO Environmental from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday. HC Wainwright reaffirmed a “buy” rating and set a $35.00 target price on shares of CECO Environmental in a research report on Wednesday. Roth Mkm lifted their price target on shares of CECO Environmental from $26.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, Craig Hallum upped their price objective on shares of CECO Environmental from $28.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Five research 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 $34.40.

Insider Transactions at CECO Environmental

In related news, Director Richard F. Wallman purchased 10,000 shares of CECO Environmental stock in a transaction on Friday, August 30th. The stock was purchased at an average cost of $28.77 per share, with a total value of $287,700.00. Following the acquisition, the director now directly owns 62,000 shares in the company, valued at approximately $1,783,740. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 16.90% of the stock is currently owned by corporate insiders.

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.