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

CECO Environmental (NASDAQ:CECO) announced its quarterly earnings data on Tuesday. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.05, Zacks reports. The business had revenue of $158.60 million during the quarter, compared to the consensus estimate of $156.09 million. CECO Environmental had a net margin of 2.16% and a return on equity of 11.12%. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.28 earnings per share.

CECO Environmental Price Performance

Shares of CECO stock opened at $22.65 on Tuesday. CECO Environmental has a twelve month low of $18.50 and a twelve month high of $35.16. The stock has a fifty day simple moving average of $28.82 and a two-hundred day simple moving average of $28.31. The stock has a market capitalization of $792.27 million, a price-to-earnings ratio of 68.64, a P/E/G ratio of 1.39 and a beta of 1.41. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 0.50.

Wall Street Analyst Weigh In

CECO has been the subject of a number of research analyst reports. Northland Securities raised their price target on CECO Environmental from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Friday, December 20th. HC Wainwright lowered CECO Environmental from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Craig Hallum boosted their target price on shares of CECO Environmental from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, Needham & Company LLC reduced their price target on shares of CECO Environmental from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $36.20.

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.