Weiss Ratings Reaffirms "Sell (E+)" Rating for Centuri (NYSE:CTRI)

Key Points

• Weiss Ratings has reaffirmed a "Sell (E+)" rating for Centuri (NYSE:CTRI), suggesting a negative outlook for the stock.
• Centuri's stock recently traded at $20.32, with a 12-month high of $24.60 and a 12-month low of $14.45.
• Recent earnings reported a missed estimate with $0.19 earnings per share, below the consensus of $0.21, despite revenue exceeding expectations by reaching $724.05 million.

Centuri (NYSE:CTRI - Get Free Report)'s stock had its "sell (e+)" rating reissued by research analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

A number of other brokerages have also issued reports on CTRI. JPMorgan Chase & Co. boosted their target price on 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 upped their target price on shares of Centuri from $22.00 to $25.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Two equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $22.00.

Centuri Stock Performance

Shares of CTRI stock traded up $0.16 during trading hours on Wednesday, reaching $20.32. 1,321,524 shares of the company traded hands, compared to its average volume of 2,315,445. Centuri has a 12-month low of $14.45 and a 12-month high of $24.60. The firm has a 50-day moving average price of $21.11 and a 200 day moving average price of $20.19. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.72 and a quick ratio of 1.72. The company has a market cap of $1.80 billion, a P/E ratio of -677.11, a P/E/G ratio of 0.98 and a beta of 1.09.

Centuri (NYSE:CTRI - Get Free Report) last released its earnings results 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). Centuri had a positive return on equity of 4.74% and a negative net margin of 0.12%.The business had revenue of $724.05 million during the quarter, compared to analysts' expectations of $702.35 million. During the same quarter in the previous year, the business earned $0.20 EPS. The business's revenue for the quarter was up 7.7% on a year-over-year basis. As a group, sell-side analysts predict that Centuri will post 0.25 earnings per share for the current fiscal year.

Institutional Trading of Centuri

Several institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE lifted its position in Centuri by 63.3% during the 4th quarter. Bank of America Corp DE now owns 15,568 shares of the company's stock worth $301,000 after acquiring an additional 6,035 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Centuri by 18.8% during the 1st quarter. Rhumbline Advisers now owns 21,960 shares of the company's stock valued at $360,000 after purchasing an additional 3,475 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Centuri by 11.5% in the first quarter. Bank of New York Mellon Corp now owns 35,720 shares of the company's stock worth $585,000 after purchasing an additional 3,672 shares in the last quarter. XTX Topco Ltd raised its holdings in shares of Centuri by 163.8% in the 1st quarter. XTX Topco Ltd now owns 26,901 shares of the company's stock valued at $441,000 after purchasing an additional 16,705 shares during the period. Finally, Deutsche Bank AG raised its position in shares of Centuri by 5.6% in the first 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 period.

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.

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