CECO Environmental (NASDAQ:CECO) Releases Quarterly Earnings Results, Misses Estimates By $0.08 EPS

CECO Environmental (NASDAQ:CECO) announced its quarterly earnings data on Tuesday. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.08), 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 $135.50 million during the quarter, compared to the consensus estimate of $155.94 million. During the same period in the prior year, the firm earned $0.22 earnings per share. The firm’s quarterly revenue was down 9.3% compared to the same quarter last year. CECO Environmental updated its FY 2024 guidance to EPS.

CECO Environmental Trading Down 1.7 %

NASDAQ:CECO opened at $26.31 on Tuesday. The stock has a market cap of $919.17 million, a PE ratio of 75.17, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33. CECO Environmental has a fifty-two week low of $15.57 and a fifty-two week high of $31.55. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 1.17. The stock’s 50-day moving average is $27.41 and its two-hundred day moving average is $26.50.

Analyst Ratings Changes

CECO has been the topic of a number of recent research reports. HC Wainwright raised their price target on shares of CECO Environmental from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Northland Securities lifted their target price on CECO Environmental from $28.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Craig Hallum upped their target price on CECO Environmental from $28.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Needham & Company LLC raised their price target on CECO Environmental from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Roth Mkm upped their price objective on CECO Environmental from $26.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $34.80.

Insider Activity at CECO Environmental

In other news, Director Richard F. Wallman acquired 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was acquired at an average cost of $28.77 per share, for a total transaction of $287,700.00. Following the completion of the acquisition, the director now owns 62,000 shares in the company, valued at approximately $1,783,740. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 16.90% of the stock is currently owned by insiders.

About CECO Environmental

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.