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

CECO Environmental (NASDAQ:CECO) posted its quarterly earnings results on Tuesday. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.05), Briefing.com reports. CECO Environmental had a net margin of 2.33% and a return on equity of 12.35%. The business had revenue of $135.50 million during the quarter, compared to analysts’ expectations of $155.94 million. During the same quarter last 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 and its FY 2025 guidance to EPS.

CECO Environmental Stock Performance

CECO stock traded down $1.00 during trading on Thursday, reaching $23.59. 99,065 shares of the company’s stock were exchanged, compared to its average volume of 261,905. The firm has a market cap of $824.73 million, a PE ratio of 72.21, a P/E/G ratio of 2.01 and a beta of 1.33. The company’s fifty day moving average price is $27.26 and its 200-day moving average price is $26.48. CECO Environmental has a 1-year low of $15.65 and a 1-year high of $31.55. The company has a quick ratio of 1.17, a current ratio of 1.36 and a debt-to-equity ratio of 0.50.

Analysts Set New Price Targets

Several research firms have weighed in on CECO. Needham & Company LLC dropped their target price on shares of CECO Environmental from $35.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday. HC Wainwright reiterated a “buy” rating and issued a $35.00 price target on shares of CECO Environmental in a report on Wednesday. Craig Hallum upped their price objective on shares of CECO Environmental from $28.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Roth Mkm boosted their target price on shares of CECO Environmental from $26.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Northland Securities raised their price target 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. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, CECO Environmental presently has a consensus rating of “Buy” and an average price target of $34.40.

Insider Activity at CECO Environmental

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