Centuri (NYSE:CTRI) Trading 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) shares dropped 4.1% during mid-day trading on Thursday . The company traded as low as $22.11 and last traded at $21.91. Approximately 2,079,656 shares changed hands during trading, an increase of 127% from the average daily volume of 915,774 shares. The stock had previously closed at $22.85.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CTRI. JPMorgan Chase & Co. lifted their price objective on shares of Centuri from $18.00 to $19.00 and gave the company an "underweight" rating in a research report on Tuesday, July 22nd. Wells Fargo & Company boosted their target price on shares of Centuri from $22.00 to $25.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $22.00.

Centuri Stock Up 0.0%

The firm has a market cap of $1.89 billion, a price-to-earnings ratio of 71.20, a P/E/G 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. The firm has a 50 day moving average price of $21.16 and a 200-day moving average price of $19.87.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. CWM LLC raised its stake in Centuri by 238.1% in the 2nd 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 last quarter. Tower Research Capital LLC TRC raised its stake in Centuri by 121.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,532 shares of the company's stock valued at $124,000 after purchasing an additional 3,037 shares during the last quarter. Deutsche Bank AG raised its stake in Centuri by 5.6% in the 1st quarter. Deutsche Bank AG now owns 9,143 shares of the company's stock valued at $150,000 after purchasing an additional 484 shares during the last quarter. KLP Kapitalforvaltning AS raised its stake 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 purchasing an additional 4,700 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Centuri by 27.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,625 shares of the company's stock valued at $186,000 after purchasing an additional 2,054 shares during the last quarter.

About Centuri

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.