CECO Environmental (CECO) Dips More Than Broader Markets: What You Should Know
In the latest trading session, CECO Environmental (CECO) closed at $14.38, marking a -1.37% move from the previous day. This change lagged the S&P 500's daily loss of 0.88%. At the same time, the Dow lost 0.73%, and the tech-heavy Nasdaq lost 4.59%.
Heading into today, shares of the maker of air pollution controls and industrial ventilation systems had gained 3.18% over the past month, lagging the Industrial Products sector's gain of 3.63% and the S&P 500's gain of 5.83% in that time.
Investors will be hoping for strength from CECO Environmental as it approaches its next earnings release. 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. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Over the past month, the Zacks Consensus EPS estimate has moved 2.17% higher. CECO Environmental currently has a Zacks Rank of #2 (Buy).
Looking at its valuation, CECO Environmental is holding a Forward P/E ratio of 15.51. For comparison, its industry has an average Forward P/E of 21.05, which means CECO Environmental is trading at a discount to the group.
Meanwhile, CECO's PEG ratio is currently 1.03. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Pollution Control industry currently had an average PEG ratio of 1.52 as of yesterday's close.
The Pollution Control industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 35, putting it in the top 14% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
CECO Environmental Corp. (CECO) : Free Stock Analysis Report
