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

CECO Environmental (NASDAQ:CECO - Get Free Report) released its earnings results on Tuesday. The company reported $0.14 EPS for the quarter, missing analysts' consensus estimates of $0.19 by ($0.05), Briefing.com reports. The business had revenue of $135.50 million for the quarter, compared to analyst estimates of $155.94 million. CECO Environmental had a return on equity of 12.35% and a net margin of 2.33%. CECO Environmental's revenue was down 9.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.22 EPS. CECO Environmental updated its FY 2024 guidance to EPS and its FY 2025 guidance to EPS.

CECO Environmental Price Performance

NASDAQ CECO traded up $2.03 on Wednesday, hitting $24.59. 709,215 shares of the company's stock were exchanged, compared to its average volume of 262,680. CECO Environmental has a 52 week low of $15.65 and a 52 week high of $31.55. The stock has a 50-day moving average of $27.26 and a 200-day moving average of $26.48. The company has a current ratio of 1.36, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. The stock has a market cap of $859.08 million, a price-to-earnings ratio of 70.26, a P/E/G ratio of 2.01 and a beta of 1.33.

Insider Buying and Selling

In related news, Director Richard F. Wallman acquired 10,000 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was acquired at an average cost of $28.77 per share, for a total transaction of $287,700.00. Following the transaction, the director now directly owns 62,000 shares in the company, valued at $1,783,740. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 16.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Needham & Company LLC reduced their target price on shares of CECO Environmental from $35.00 to $33.00 and set a "buy" rating for the company in a research note on Wednesday. Craig Hallum lifted their target price on 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 lifted their price objective on shares of CECO Environmental from $26.00 to $35.00 and gave the company a "buy" rating in a report on Wednesday, July 31st. HC Wainwright reiterated a "buy" rating and issued a $35.00 price target on shares of CECO Environmental in a research note on Wednesday. Finally, Northland Securities upped their price objective on CECO Environmental from $28.00 to $35.00 and gave the stock an "outperform" rating in a research note on Thursday, August 1st. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $34.40.

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.