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

CECO Environmental (NASDAQ:CECO) released its quarterly 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. The firm had revenue of $158.60 million during the quarter, compared to analysts’ expectations of $156.09 million. CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. CECO Environmental’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.28 EPS.

CECO Environmental Price Performance

Shares of CECO stock opened at $22.65 on Tuesday. The firm has a fifty day moving average of $28.82 and a two-hundred day moving average of $28.31. The firm has a market cap of $792.27 million, a P/E ratio of 68.64, a P/E/G ratio of 1.39 and a beta of 1.41. CECO Environmental has a 1-year low of $18.50 and a 1-year high of $35.16. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 1.12.

Wall Street Analyst Weigh In

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

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.