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

CECO Environmental (NASDAQ:CECO) released its earnings results on Tuesday. The company reported $0.27 EPS 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 firm had revenue of $158.60 million during the quarter, compared to the consensus estimate of $156.09 million. During the same quarter in the previous year, the company posted $0.28 earnings per share. The company’s revenue was up 3.2% compared to the same quarter last year.

CECO Environmental Stock Up 8.2 %

Shares of NASDAQ CECO opened at $24.51 on Wednesday. CECO Environmental has a 52-week low of $18.50 and a 52-week high of $35.16. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 0.50. The company’s 50-day simple moving average is $28.69 and its 200-day simple moving average is $28.29. The firm has a market cap of $857.34 million, a price-to-earnings ratio of 74.27, a price-to-earnings-growth ratio of 1.39 and a beta of 1.41.

Wall Street Analyst Weigh In

Several brokerages have commented on CECO. Needham & Company LLC decreased their price objective 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, October 30th. HC Wainwright downgraded CECO Environmental from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Craig Hallum raised their price objective on shares of CECO Environmental from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Northland Securities boosted 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. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, CECO Environmental presently has a consensus rating of “Moderate Buy” and a consensus price target 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.