Yahoo Finance CECO Environmental (CECO) Gains But Lags Market: What You Should Know
In the latest trading session, CECO Environmental (CECO) closed at $15.52, marking a +0.32% move from the previous day. This change lagged the S&P 500's 0.76% gain on the day. At the same time, the Dow added 1.05%, and the tech-heavy Nasdaq lost 0.98%.
Heading into today, shares of the maker of air pollution controls and industrial ventilation systems had gained 8.94% over the past month, outpacing the Industrial Products sector's loss of 1.18% and the S&P 500's loss of 3.91% in that time.
Wall Street will be looking for positivity from CECO Environmental as it approaches its next earnings report date. This is expected to be March 6, 2023. On that day, CECO Environmental is projected to report earnings of $0.20 per share, which would represent year-over-year growth of 100%. Our most recent consensus estimate is calling for quarterly revenue of $103.95 million, up 11.07% from the year-ago period.
Investors might also notice recent changes to analyst estimates for CECO Environmental. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. CECO Environmental is currently a Zacks Rank #2 (Buy).
Valuation is also important, so investors should note that CECO Environmental has a Forward P/E ratio of 16.46 right now. Its industry sports an average Forward P/E of 21.95, so we one might conclude that CECO Environmental is trading at a discount comparatively.
Investors should also note that CECO has a PEG ratio of 1.1 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. CECO's industry had an average PEG ratio of 1.6 as of yesterday's close.
The Pollution Control industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 10, which puts it in the top 4% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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CECO Environmental Corp. (CECO) : Free Stock Analysis Report
