Centuri (NYSE:CTRI) Announces Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Centuri (NYSE:CTRI) issued its quarterly earnings results on Monday. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.01, Briefing.com reports. The business had revenue of $672.08 million during the quarter, compared to analyst estimates of $760.55 million. The company’s revenue was down 16.6% on a year-over-year basis. Centuri updated its FY 2024 guidance to EPS.

Centuri Price Performance

Shares of Centuri stock traded down $0.12 during trading hours on Tuesday, hitting $15.60. 130,843 shares of the company were exchanged, compared to its average volume of 648,432. Centuri has a 1 year low of $14.73 and a 1 year high of $28.65. The company has a debt-to-equity ratio of 5.91, a current ratio of 1.39 and a quick ratio of 1.39. The firm has a 50-day simple moving average of $23.25.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. UBS Group cut shares of Centuri from a “buy” rating to a “neutral” rating and dropped their price target for the company from $30.00 to $17.00 in a research note on Tuesday. Wells Fargo & Company reduced their price target on Centuri from $29.00 to $22.00 and set an “overweight” rating on the stock in a report on Tuesday. KeyCorp started coverage on Centuri in a report on Thursday, June 27th. They set a “sector weight” rating on the stock. Baird R W upgraded shares of Centuri to a “strong-buy” rating in a report on Monday, May 13th. Finally, Robert W. Baird initiated coverage on Centuri in a research report on Monday, May 13th. They issued an “outperform” rating and a $30.00 target price for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Centuri has a consensus rating of “Moderate Buy” and a consensus price target of $21.80.

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.