Yahoo Finance CECO Environmental (CECO) Stock Moves -0.81%: What You Should Know
CECO Environmental (CECO) closed at $14.78 in the latest trading session, marking a -0.81% move from the prior day. This move was narrower than the S&P 500's daily loss of 1.05%. Meanwhile, the Dow lost 1.02%, and the Nasdaq, a tech-heavy index, lost 1.64%.
Heading into today, shares of the maker of air pollution controls and industrial ventilation systems had gained 8.21% over the past month, outpacing the Industrial Products sector's gain of 1.84% and the S&P 500's gain of 0.01% in that time.
CECO Environmental will be looking to display strength as it nears its next earnings release, which 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%. Meanwhile, our latest consensus estimate is calling for revenue of $103.95 million, up 11.07% from the prior-year quarter.
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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. CECO Environmental is currently sporting a Zacks Rank of #2 (Buy).
Investors should also note CECO Environmental's current valuation metrics, including its Forward P/E ratio of 15.85. Its industry sports an average Forward P/E of 21.01, so we one might conclude that CECO Environmental is trading at a discount comparatively.
It is also worth noting that CECO currently has a PEG ratio of 1.06. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Pollution Control industry currently had an average PEG ratio of 1.53 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 individual 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
