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

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

CECO Environmental Stock Performance

Shares of CECO Environmental stock traded up $1.21 on Thursday, hitting $25.73. 35,746 shares of the company’s stock were exchanged, compared to its average volume of 297,891. CECO Environmental has a 1 year low of $18.50 and a 1 year high of $35.16. The company has a 50-day simple moving average of $28.60 and a 200-day simple moving average of $28.26. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.12 and a current ratio of 1.30. The stock has a market capitalization of $899.83 million, a PE ratio of 78.08, a PEG ratio of 1.39 and a beta of 1.41.

Analyst Ratings Changes

A number of brokerages recently weighed in on CECO. Northland Securities increased their price objective on shares of CECO Environmental from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday, December 20th. HC Wainwright reissued a “neutral” rating on shares of CECO Environmental in a report on Wednesday. Craig Hallum raised their price target on CECO Environmental from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $33.00 target price on shares of CECO Environmental in a report on Wednesday. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $36.20.

Insider Transactions at CECO Environmental

In related news, Director Richard F. Wallman purchased 1,000 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was acquired at an average price of $25.15 per share, with a total value of $25,150.00. Following the completion of the acquisition, the director now owns 207,117 shares of the company’s stock, valued at approximately $5,208,992.55. This trade represents a 0.49 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 16.90% of the stock is currently owned by company insiders.

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.