CECO Environmental (NASDAQ:CECO) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS

CECO Environmental (NASDAQ:CECO) issued its earnings results on Tuesday. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.05, Zacks reports. CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. The company had revenue of $158.60 million for the quarter, compared to the consensus estimate of $156.09 million. During the same quarter last year, the company earned $0.28 EPS. The firm’s quarterly revenue was up 3.2% on a year-over-year basis.

CECO Environmental Stock Performance

NASDAQ CECO opened at $22.65 on Tuesday. The company has a market cap of $792.27 million, a P/E ratio of 68.64, a P/E/G ratio of 1.39 and a beta of 1.41. The business’s 50 day moving average price is $28.82 and its 200-day moving average price is $28.31. CECO Environmental has a fifty-two week low of $18.50 and a fifty-two week high of $35.16. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.12 and a current ratio of 1.30.

Wall Street Analysts Forecast Growth

CECO has been the topic of several research analyst reports. HC Wainwright cut shares of CECO Environmental from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Craig Hallum lifted their price objective on CECO Environmental from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Northland Securities increased their target price on CECO Environmental from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday, December 20th. Finally, Needham & Company LLC reduced 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, October 30th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, CECO Environmental currently has an average rating of “Moderate Buy” and an average target price of $36.20.

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.