CECO Environmental (NASDAQ:CECO) Releases Earnings Results, Meets Estimates

CECO Environmental (NASDAQ:CECO - Get Free Report) announced its earnings results on Tuesday. The company reported $0.11 earnings per share for the quarter, hitting the consensus estimate of $0.11, Briefing.com reports. CECO Environmental had a net margin of 2.37% and a return on equity of 11.57%. The firm had revenue of $126.30 million for the quarter, compared to the consensus estimate of $135.82 million. During the same period in the prior year, the firm earned $0.10 EPS. The firm'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 Trading Up 1.8 %

CECO Environmental stock traded up $0.38 during trading on Wednesday, hitting $22.00. The company's stock had a trading volume of 505,217 shares, compared to its average volume of 257,292. The stock's fifty day moving average is $22.62 and its 200 day moving average is $20.33. CECO Environmental has a 1-year low of $10.68 and a 1-year high of $25.82. The stock has a market capitalization of $767.14 million, a price-to-earnings ratio of 58.68, a P/E/G ratio of 1.76 and a beta of 1.23. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.22 and a current ratio of 1.39.

Insiders Place Their Bets

In related news, Director Laurie Siegel acquired 2,500 shares of the business's stock in a transaction dated Wednesday, March 6th. The shares were acquired at an average cost of $19.87 per share, for a total transaction of $49,675.00. Following the acquisition, the director now directly owns 7,906 shares in the company, valued at approximately $157,092.22. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 16.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CECO has been the topic of several recent analyst reports. Roth Mkm increased their price target on shares of CECO Environmental from $22.00 to $25.00 and gave the company a "buy" rating in a research note on Wednesday, March 6th. HC Wainwright reiterated a "buy" rating and issued a $30.00 target price on shares of CECO Environmental in a research note on Wednesday. Northland Securities increased their price target on shares of CECO Environmental from $27.00 to $28.00 and gave the stock an "outperform" rating in a report on Wednesday, March 6th. Craig Hallum increased their price objective on CECO Environmental from $25.00 to $28.00 and gave the stock a "buy" rating in a research report on Wednesday. Finally, 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. Five analysts have rated the stock with a buy rating, According to 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.