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

CECO Environmental (NASDAQ:CECO) 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 analyst estimates of $155.94 million. CECO Environmental had a net margin of 2.16% and a return on equity of 11.12%. The company’s quarterly revenue was down 9.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.22 EPS. CECO Environmental updated its FY 2024 guidance to EPS and its FY 2025 guidance to EPS.

CECO Environmental Stock Down 0.7 %

CECO traded down $0.17 during trading on Friday, hitting $23.63. The company had a trading volume of 117,112 shares, compared to its average volume of 262,942. The company has a market capitalization of $826.58 million, a PE ratio of 72.12, a PEG ratio of 2.00 and a beta of 1.33. The company has a quick ratio of 1.17, a current ratio of 1.30 and a debt-to-equity ratio of 0.50. CECO Environmental has a one year low of $15.65 and a one year high of $31.55. The firm’s 50-day moving average price is $27.18 and its 200 day moving average price is $26.46.

Insiders Place Their Bets

In other news, Director Richard F. Wallman purchased 10,000 shares of the business’s stock in a transaction dated 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 acquisition, the director now directly owns 62,000 shares in the company, valued at approximately $1,783,740. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 16.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Craig Hallum increased their price target 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 increased their target price on shares of CECO Environmental from $26.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Northland Securities boosted their price target on shares of CECO Environmental from $28.00 to $35.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Needham & Company LLC dropped their price objective on CECO Environmental from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, HC Wainwright reiterated a “buy” rating and set a $35.00 target price on shares of CECO Environmental in a report on Wednesday. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $34.40.

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.