Centuri (NYSE:CTRI) Shares Down 4.1% - Here's Why

Key Points

• Centuri Holdings, Inc. (NYSE:CTRI) experienced a 4.1% decline in stock price, closing at $21.91 after trading as low as $22.11.
• Analysts have varying outlooks on Centuri, with Wells Fargo raising its price target to $25.00 while JPMorgan maintained a Sell rating with a target of $19.00, leading to a consensus rating of "Hold."
• Centuri’s recent quarterly earnings revealed a miss on EPS at $0.19 versus the expected $0.21, although revenue increased by 7.7% year-over-year to $724.05 million.

Centuri Holdings, Inc. (NYSE:CTRI - Get Free Report)'s stock price fell 4.1% during trading on Thursday . The company traded as low as $22.11 and last traded at $21.91. 2,079,656 shares changed hands during mid-day trading, an increase of 127% from the average session volume of 915,774 shares. The stock had previously closed at $22.85.

Analyst Ratings Changes

A number of brokerages have issued reports on CTRI. Wells Fargo & Company upped their price objective on Centuri from $22.00 to $25.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. JPMorgan Chase & Co. upped their price objective on Centuri from $18.00 to $19.00 and gave the company an "underweight" rating in a research report on Tuesday, July 22nd. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $22.00.

Centuri Price Performance

The firm has a 50-day simple moving average of $21.15 and a 200-day simple moving average of $19.81. The firm has a market cap of $1.89 billion, a P/E ratio of -711.10, a PEG ratio of 1.04 and a beta of 1.12. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 1.59.

Centuri (NYSE:CTRI - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.19 earnings per share for the quarter, missing analysts' consensus estimates of $0.21 by ($0.02). The company had revenue of $724.05 million for the quarter, compared to analysts' expectations of $702.35 million. Centuri had a negative net margin of 0.12% and a positive return on equity of 4.74%. The business's quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.20 EPS. As a group, analysts forecast that Centuri Holdings, Inc. will post 0.25 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CTRI. CWM LLC raised its position in Centuri by 238.1% in the second quarter. CWM LLC now owns 2,688 shares of the company's stock valued at $60,000 after purchasing an additional 1,893 shares during the period. Tower Research Capital LLC TRC boosted its stake in Centuri by 121.7% in the second quarter. Tower Research Capital LLC TRC now owns 5,532 shares of the company's stock valued at $124,000 after acquiring an additional 3,037 shares in the last quarter. KLP Kapitalforvaltning AS increased its position in Centuri by 146.9% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 7,900 shares of the company's stock valued at $177,000 after acquiring an additional 4,700 shares during the period. Deutsche Bank AG raised its stake in Centuri by 31.4% during the 4th quarter. Deutsche Bank AG now owns 8,659 shares of the company's stock valued at $167,000 after acquiring an additional 2,068 shares during the last quarter. Finally, Magnetar Financial LLC acquired a new stake in Centuri in the second quarter valued at about $216,000.

Centuri Company Profile

Centuri Holdings, Inc operates as a utility infrastructure services company in North America. It offers gas utility services, including maintenance, repair, installation, and replacement services for natural gas local distribution utility companies with focus on the modernization of infrastructure. The company also provides electric utility services comprising design, maintenance and repair, upgrade, and expansion services for transmission and distribution infrastructure.