Wall Street is overwhelmingly bullish on the stocks in this article, with price targets suggesting significant upside potential.
However, it’s worth remembering that analysts rarely issue sell ratings, partly because their firms often seek other business from the same companies they cover.
What a brutal six months it’s been for CECO Environmental. The stock has dropped 21.1% and now trades at $21.32, rattling many shareholders. This may have investors wondering how to approach the situation.
Looking back on industrial & environmental services stocks’ Q4 earnings, we examine this quarter’s best and worst performers, including Cintas (NASDAQ:CTAS) and its peers.
As the Q4 earnings season wraps, let’s dig into this quarter’s best and worst performers in the industrial & environmental services industry, including CECO Environmental (NASDAQ:CECO) and its peers.
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Shares of environmental solutions provider jumped 14.7% in the morning session after the company reported decent fourth-quarter results, surpassing analysts' expectations for revenue, EPS, and EBITDA. Revenue grew 3% y/y, driven by record-high bookings and a 46% increase in backlog, signaling strong demand across its industrial and environmental businesses. On top of that, the company's full-year revenue and EBITDA guidance came in ahead of forecasts, adding to the positive momentum. Zooming out, we think this was a good quarter with some key areas of upside.
Air quality and fluid handling company CECO (NASDAQ:CECO) reported Q4 CY2024 results topping the market’s revenue expectations, with sales up 3.2% year on year to $158.6 million. The company’s full-year revenue guidance of $725 million at the midpoint came in 4.1% above analysts’ estimates. Its non-GAAP profit of $0.27 per share was 19.1% above analysts’ consensus estimates.
Looking back on gas and liquid handling stocks’ Q3 earnings, we examine this quarter’s best and worst performers, including CECO (NASDAQ:CECO) and its peers.
CECO currently trades at $31 and has been a dream stock for shareholders. It’s returned 282% since December 2019, more tripling the S&P 500’s 91.2% gain. The company has also beaten the index over the past six months as its stock price is up 28.6%.
Let’s dig into the relative performance of Flowserve (NYSE:FLS) and its peers as we unravel the now-completed Q3 gas and liquid handling earnings season.
The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s take a look at how gas and liquid handling stocks fared in Q3, starting with Gorman-Rupp (NYSE:GRC).
Air quality and fluid handling company CECO (NASDAQ:CECO) fell short of the market’s revenue expectations in Q3 CY2024, with sales falling 9.3% year on year to $135.5 million. The company’s full-year revenue guidance of $587.5 million at the midpoint also came in 3.2% below analysts’ estimates. Its non-GAAP profit of $0.14 per share was also 29.4% below analysts’ consensus estimates.
