CECO Environmental (NASDAQ:CECO) Posts Earnings Results

CECO Environmental (NASDAQ:CECO) announced its quarterly earnings results on Tuesday. The company reported $0.11 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.11, Briefing.com reports. CECO Environmental had a net margin of 2.23% and a return on equity of 11.57%. The business had revenue of $126.30 million during the quarter, compared to analysts’ expectations of $135.82 million. During the same period last year, the business earned $0.10 earnings per share. The business’s revenue for the quarter was up 12.2% on a year-over-year basis. CECO Environmental updated its FY 2024 guidance to EPS.

CECO Environmental Stock Up 1.8 %

Shares of NASDAQ:CECO opened at $22.00 on Thursday. The company has a market capitalization of $767.14 million, a PE ratio of 62.86, a P/E/G ratio of 1.50 and a beta of 1.24. The company has a current ratio of 1.38, a quick ratio of 1.22 and a debt-to-equity ratio of 0.53. CECO Environmental has a twelve month low of $10.68 and a twelve month high of $25.82. The firm has a 50 day simple moving average of $22.62 and a 200-day simple moving average of $20.33.

Insider Transactions at CECO Environmental

In other CECO Environmental news, Director Laurie Siegel purchased 2,500 shares of CECO Environmental stock in a transaction that occurred on Wednesday, March 6th. The stock was purchased at an average price of $19.87 per share, for a total transaction of $49,675.00. Following the transaction, the director now directly owns 7,906 shares in the company, valued at $157,092.22. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 16.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CECO shares. Roth Mkm lifted their price target on shares of CECO Environmental from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Northland Securities lifted their price target on shares of CECO Environmental from $27.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday, March 6th. Craig Hallum lifted their price target on shares of CECO Environmental from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday. Needham & Company LLC lifted their price target on shares of CECO Environmental from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, HC Wainwright restated a “buy” rating and issued a $30.00 price objective on shares of CECO Environmental in a report on Wednesday. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $27.40.

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.