Centuri (NYSE:CTRI) Releases Quarterly Earnings Results, Misses Estimates By $0.24 EPS

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

Centuri Stock Performance

Shares of Centuri stock traded down $0.95 on Friday, hitting $20.70. 396,189 shares of the company were exchanged, compared to its average volume of 515,547. The company has a 50-day moving average price of $17.32 and a 200 day moving average price of $20.32. Centuri has a 1-year low of $14.47 and a 1-year high of $28.65. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 1.94.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers acquired a new position in shares of Centuri during the 2nd quarter worth approximately $300,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Centuri during the 3rd quarter valued at approximately $334,000. Sandia Investment Management LP purchased a new stake in shares of Centuri during the 2nd quarter valued at approximately $466,000. Point72 DIFC Ltd purchased a new stake in shares of Centuri during the 2nd quarter valued at approximately $657,000. Finally, Gabelli Funds LLC purchased a new stake in shares of Centuri during the 2nd quarter valued at approximately $880,000.

Wall Street Analysts Forecast Growth

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

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.