Centrus Energy (NYSE:LEU) Shares Up 4.1% - Here's What Happened

Key Points

• Centrus Energy's stock price rose by 4.1% during trading, reaching a high of $287.18, despite a 64% decline in trading volume compared to average sessions.
• Analysts remain optimistic, with Bank of America and HC Wainwright recently raising their target prices to $285.00 and $300.00, respectively, while the stock has a consensus rating of "Moderate Buy".
• The company reported a significant quarterly earnings surprise, posting $1.59 EPS compared to an estimated $0.58 EPS, even though its revenue decreased 18.3% year-over-year.

Centrus Energy Corp. (NYSE:LEU - Get Free Report)'s stock price shot up 4.1% during trading on Thursday . The company traded as high as $278.67 and last traded at $287.18. 390,804 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 1,083,126 shares. The stock had previously closed at $276.00.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on LEU. Bank of America reaffirmed a "neutral" rating and issued a $285.00 target price (up from $210.00) on shares of Centrus Energy in a report on Thursday, August 7th. HC Wainwright reaffirmed a "buy" rating and issued a $300.00 target price on shares of Centrus Energy in a report on Tuesday, August 26th. B. Riley reaffirmed a "buy" rating and issued a $221.00 target price (up from $134.00) on shares of Centrus Energy in a report on Monday, June 23rd. JPMorgan Chase & Co. increased their price target on shares of Centrus Energy from $150.00 to $164.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Finally, Northland Securities set a $275.00 price target on shares of Centrus Energy in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $202.09.

Centrus Energy Stock Up 9.7%

The company has a debt-to-equity ratio of 3.09, a current ratio of 2.93 and a quick ratio of 2.46. The firm's 50-day simple moving average is $219.91 and its two-hundred day simple moving average is $148.66. The company has a market capitalization of $5.51 billion, a price-to-earnings ratio of 69.00 and a beta of 1.53.

Centrus Energy (NYSE:LEU - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $1.59 EPS for the quarter, beating the consensus estimate of $0.58 by $1.01. Centrus Energy had a net margin of 16.56% and a return on equity of 84.09%. The firm's revenue for the quarter was down 18.3% compared to the same quarter last year. During the same period last year, the firm earned $1.89 EPS. Sell-side analysts predict that Centrus Energy Corp. will post 2.63 EPS for the current fiscal year.

Institutional Trading of Centrus Energy

Several large investors have recently modified their holdings of LEU. Granahan Investment Management LLC acquired a new stake in Centrus Energy during the first quarter worth approximately $13,440,000. American Century Companies Inc. boosted its position in Centrus Energy by 483.8% during the second quarter. American Century Companies Inc. now owns 247,352 shares of the company's stock worth $45,310,000 after acquiring an additional 204,983 shares during the last quarter. Jump Financial LLC acquired a new stake in Centrus Energy during the second quarter worth approximately $19,142,000. Franklin Resources Inc. acquired a new stake in Centrus Energy during the second quarter worth approximately $16,324,000. Finally, First Trust Advisors LP boosted its position in Centrus Energy by 193.0% during the second quarter. First Trust Advisors LP now owns 134,382 shares of the company's stock worth $24,616,000 after acquiring an additional 88,513 shares during the last quarter. 49.96% of the stock is currently owned by institutional investors and hedge funds.

About Centrus Energy

Centrus Energy Corp. supplies nuclear fuel components and services for the nuclear power industry in the United States, Belgium, Japan, and internationally. The company operates through two segments, Low-Enriched Uranium (LEU) and Technical Solutions. The LEU segment sells separative work units (SWU) components of LEU; natural uranium hexafluoride, uranium concentrates, and uranium conversion; and enriched uranium products to utilities that operate nuclear power plants.

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