CECO Environmental (CECO) to Release Quarterly Earnings on Tuesday

CECO Environmental (NASDAQ:CECO - Get Free Report) will be posting its quarterly earnings results before the market opens on Tuesday, October 29th. Analysts expect CECO Environmental to post earnings of $0.22 per share for the quarter. CECO Environmental has set its FY 2024 guidance at EPS.Parties that are interested in registering for the company's conference call can do so using this link.

CECO Environmental (NASDAQ:CECO - Get Free Report) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.04. The firm had revenue of $137.50 million for the quarter, compared to analyst estimates of $143.33 million. CECO Environmental had a net margin of 2.33% and a return on equity of 12.35%. The business's quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.15 earnings per share. On average, analysts expect CECO Environmental to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

CECO Environmental Stock Down 2.5 %

Shares of CECO traded down $0.67 during trading hours on Tuesday, hitting $26.18. The stock had a trading volume of 117,961 shares, compared to its average volume of 258,705. The firm has a 50 day simple moving average of $27.51 and a 200-day simple moving average of $26.39. CECO Environmental has a 1-year low of $15.27 and a 1-year high of $31.55. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 1.17. The firm has a market capitalization of $914.62 million, a P/E ratio of 74.80, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33.

Analysts Set New Price Targets

A number of brokerages have commented on CECO. Northland Securities raised their price objective on CECO Environmental from $28.00 to $35.00 and gave the company an "outperform" rating in a research note on Thursday, August 1st. Craig Hallum lifted 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. HC Wainwright upped their price objective on shares of CECO Environmental from $30.00 to $35.00 and gave the stock a "buy" rating in a 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. Finally, Needham & Company LLC upped their target price on shares of CECO Environmental from $34.00 to $35.00 and gave the stock a "buy" rating in a report on Wednesday, July 31st. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $34.80.

Insider Transactions at CECO Environmental

In other news, Director Richard F. Wallman purchased 10,000 shares of the company's stock in a transaction that occurred on Friday, August 30th. The shares were bought at an average cost of $28.77 per share, with a total value of $287,700.00. Following the completion of the transaction, the director now directly owns 62,000 shares of the company's stock, valued at approximately $1,783,740. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 16.90% of the company's stock.

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.