Centuri (NYSE:CTRI) Posts Quarterly Earnings Results, Misses Expectations By $0.24 EPS

Centuri (NYSE:CTRI) released its quarterly earnings results on Wednesday. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.24), reports. The firm had revenue of $692.82 million for the quarter, compared to analysts’ expectations of $719.87 million. Centuri updated its FY 2024 guidance to EPS.

Centuri Price Performance

NYSE CTRI traded down $0.95 during trading on Friday, reaching $20.70. 396,189 shares of the company’s stock were exchanged, compared to its average volume of 515,547. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 1.94. The company has a 50 day moving average price of $17.32 and a two-hundred day moving average price of $20.32. Centuri has a 1 year low of $14.47 and a 1 year high of $28.65.

Analyst Upgrades and Downgrades

CTRI has been the topic of a number of research reports. Bank of America decreased their price target on Centuri from $21.00 to $15.00 and set an “underperform” rating on the stock in a research note on Tuesday, July 30th. Robert W. Baird raised their target price on Centuri from $19.00 to $21.00 and gave the company an “outperform” rating in a report on Thursday. UBS Group lowered shares of Centuri from a “buy” rating to a “neutral” rating and cut their price target for the stock from $30.00 to $17.00 in a research note on Tuesday, July 30th. Wells Fargo & Company lowered their price objective on shares of Centuri from $29.00 to $22.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. Finally, JPMorgan Chase & Co. upped their target price on shares of Centuri from $16.00 to $17.00 and gave the stock an “underweight” rating in a research note on Thursday. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Centuri currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.40.

Institutional Trading of Centuri

A number of institutional investors have recently bought and sold shares of the business. Oppenheimer Asset Management Inc. purchased a new stake in Centuri during the 3rd quarter worth about $334,000. Versant Capital Management Inc purchased a new stake in Centuri during the 3rd quarter worth about $1,153,000. Ghisallo Capital Management LLC purchased a new stake in Centuri during the 2nd quarter worth about $3,409,000. Clearbridge Investments LLC purchased a new stake in Centuri during the 2nd quarter worth about $5,587,000. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Centuri in the 2nd quarter valued at about $4,339,000.

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.