CECO Environmental (NASDAQ:CECO) Releases Quarterly Earnings Results, Misses Expectations By $0.05 EPS

CECO Environmental (NASDAQ:CECOGet Free Report) released its earnings results on Tuesday. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.05), Briefing.com reports. The company had revenue of $135.50 million during the quarter, compared to the consensus estimate of $155.94 million. CECO Environmental had a net margin of 2.33% and a return on equity of 12.35%. The firm’s quarterly revenue was down 9.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.22 EPS. CECO Environmental updated its FY 2024 guidance to EPS and its FY 2025 guidance to EPS.

CECO Environmental Trading Down 4.1 %

NASDAQ CECO traded down $1.00 on Thursday, hitting $23.59. The company’s stock had a trading volume of 99,065 shares, compared to its average volume of 261,905. The firm has a market cap of $824.73 million, a P/E ratio of 72.21, a PEG ratio of 2.01 and a beta of 1.33. The company’s 50-day simple moving average is $27.26 and its 200 day simple moving average is $26.48. CECO Environmental has a 52-week low of $15.65 and a 52-week high of $31.55. The company has a current ratio of 1.36, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50.

Insider Buying and Selling

In related news, Director Richard F. Wallman bought 10,000 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were bought at an average cost of $28.77 per share, for a total transaction of $287,700.00. Following the completion of the transaction, the director now owns 62,000 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 16.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CECO. Craig Hallum lifted 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, July 31st. HC Wainwright reiterated a “buy” rating and issued a $35.00 price target on shares of CECO Environmental in a report on Wednesday. Needham & Company LLC cut their price objective on CECO Environmental from $35.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday. Roth Mkm upped their target price on CECO Environmental from $26.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, Northland Securities upped 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, August 1st. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $34.40.

Read Our Latest Stock Analysis on CECO Environmental

About CECO Environmental

(Get Free Report)

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.

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Earnings History for CECO Environmental (NASDAQ:CECO)

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