CECO Environmental (NASDAQ:CECE) Issues Earnings Results

CECO Environmental (NASDAQ:CECE) announced its quarterly earnings results on Tuesday. The industrial products company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.03), Bloomberg Earnings reports. The firm had revenue of $81.18 million during the quarter, compared to analyst estimates of $86.67 million. CECO Environmental had a negative net margin of 3.16% and a positive return on equity of 6.82%.

Shares of NASDAQ CECE traded down $0.23 during mid-day trading on Wednesday, reaching $7.94. 167,495 shares of the company were exchanged, compared to its average volume of 160,186. The firm’s 50-day moving average is $9.16. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.59 and a quick ratio of 1.40. The company has a market capitalization of $286.36 million, a PE ratio of 27.38, a P/E/G ratio of 1.13 and a beta of 0.88. CECO Environmental has a twelve month low of $6.44 and a twelve month high of $9.84.

A number of brokerages have commented on CECE. Roth Capital upgraded shares of CECO Environmental from a “neutral” rating to a “buy” rating and increased their price target for the company from $8.00 to $10.00 in a research note on Tuesday, June 11th. BidaskClub cut shares of CECO Environmental from a “hold” rating to a “sell” rating in a research note on Thursday, July 18th. Zacks Investment Research upgraded shares of CECO Environmental from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research note on Tuesday, May 14th. Maxim Group set a $10.00 target price on shares of CECO Environmental and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Finally, ValuEngine cut shares of CECO Environmental from a “buy” rating to a “hold” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. CECO Environmental has an average rating of “Buy” and an average target price of $9.92.

Several hedge funds and other institutional investors have recently bought and sold shares of CECE. BlackRock Inc. lifted its stake in shares of CECO Environmental by 2.0% during the 4th quarter. BlackRock Inc. now owns 2,150,295 shares of the industrial products company’s stock worth $14,516,000 after buying an additional 41,932 shares during the last quarter. Northern Trust Corp increased its position in CECO Environmental by 0.6% during the fourth quarter. Northern Trust Corp now owns 347,637 shares of the industrial products company’s stock worth $2,346,000 after acquiring an additional 2,048 shares during the period. Dimensional Fund Advisors LP increased its position in CECO Environmental by 2.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,366,493 shares of the industrial products company’s stock worth $15,974,000 after acquiring an additional 54,611 shares during the period. Geode Capital Management LLC increased its position in CECO Environmental by 6.8% during the fourth quarter. Geode Capital Management LLC now owns 307,172 shares of the industrial products company’s stock worth $2,073,000 after acquiring an additional 19,438 shares during the period. Finally, MetLife Investment Advisors LLC bought a new position in CECO Environmental during the fourth quarter worth about $100,000. Institutional investors own 67.06% of the company’s stock.

CECO Environmental Company Profile

CECO Environmental Corp. provides industrial air quality and fluid handling systems for the energy, industrial, and other markets worldwide. The company operates through three segments: Energy Solutions, Environmental Solutions, and Fluid Handling and Filtration Solutions. The company engineers, designs, builds, and installs systems that capture, clean, and destroy airborne contaminants from industrial facilities, as well as equipment that control emissions from such facilities; and fluid handling and filtration systems.

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Earnings History for CECO Environmental (NASDAQ:CECE)

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