Centrus Energy (NYSE:LEU) Shares Down 10.6% - Here's What Happened

Key Points

• Centrus Energy shares fell 10.6% to about $120.05, with trading volume roughly 27% above the daily average.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $231.13, despite several recent target-price changes.
• The company reported quarterly EPS of $1.77, beating estimates of $0.74, while revenue rose 14% year over year to $176.1 million. Centrus is also developing HALEU fuel for next-generation nuclear reactors.

Centrus Energy Corp. (NYSE:LEU - Get Free Report)'s stock price dropped 10.6% during trading on Wednesday. The stock traded as low as $119.33 and last traded at $120.05. Approximately 1,140,186 shares were traded during mid-day trading, an increase of 27% from the average daily volume of 901,226 shares. The stock had previously closed at $134.28.

Analyst Ratings Changes

LEU has been the topic of a number of analyst reports. Bank of America reduced their price objective on Centrus Energy from $240.00 to $205.00 and set a "neutral" rating on the stock in a research report on Thursday, July 9th. Roth Capital restated a "neutral" rating and issued a $188.00 target price on shares of Centrus Energy in a report on Thursday, August 6th. UBS Group upped their target price on Centrus Energy from $170.00 to $185.00 and gave the company a "neutral" rating in a report on Wednesday, August 19th. Truist Financial initiated coverage on Centrus Energy in a research note on Monday, July 13th. They issued a "buy" rating and a $215.00 target price for the company. Finally, Northland Securities set a $270.00 price target on Centrus Energy in a report on Friday, September 11th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $231.13.

Centrus Energy Trading Down 10.5%

The business has a fifty day moving average price of $164.67 and a two-hundred day moving average price of $175.15. The company has a current ratio of 5.39, a quick ratio of 4.52 and a debt-to-equity ratio of 1.39. The firm has a market capitalization of $2.40 billion, a PE ratio of 54.57, a PEG ratio of 10.75 and a beta of 1.53.

Centrus Energy (NYSE:LEU - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $1.03. Centrus Energy had a net margin of 10.23% and a return on equity of 7.06%. The firm had revenue of $176.10 million for the quarter. During the same quarter last year, the firm posted $1.59 earnings per share. The firm's quarterly revenue was up 14.0% on a year-over-year basis. Analysts expect that Centrus Energy Corp. will post 4.21 EPS for the current fiscal year.

Institutional Investors Weigh In On Centrus Energy

A number of institutional investors have recently made changes to their positions in the stock. Western Wealth Management LLC acquired a new position in Centrus Energy during the 1st quarter worth about $31,000. Leonteq Securities AG purchased a new position in Centrus Energy during the 1st quarter valued at about $35,000. IFP Advisors Inc grew its position in Centrus Energy by 172.4% in the 2nd quarter. IFP Advisors Inc now owns 237 shares of the company's stock valued at $40,000 after acquiring an additional 150 shares in the last quarter. Vestor Capital LLC acquired a new position in Centrus Energy in the 1st quarter valued at about $55,000. Finally, Parallel Advisors LLC grew its position in Centrus Energy by 38.5% in the 1st quarter. Parallel Advisors LLC now owns 338 shares of the company's stock valued at $59,000 after acquiring an additional 94 shares in the last quarter. 49.96% of the stock is currently owned by institutional investors and hedge funds.

Centrus Energy Company Profile

Centrus Energy Corp. is a U.S.-based nuclear fuel company that supplies enriched uranium and related services to commercial nuclear power producers and other customers. Its business includes the sale of low-enriched uranium (LEU), which is used to manufacture fuel for nuclear reactors, as well as uranium enrichment and fuel-management services.

The company is also developing high-assay low-enriched uranium (HALEU), an advanced nuclear fuel intended for certain next-generation reactors.

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