Centuri (NYSE:CTRI) Announces Quarterly Earnings Results

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

Centuri Stock Up 4.6 %

Centuri stock traded up $0.73 during trading hours on Wednesday, hitting $16.51. 611,144 shares of the company traded hands, compared to its average volume of 663,629. Centuri has a 1-year low of $14.73 and a 1-year high of $28.65. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 5.91. The firm’s 50-day moving average price is $23.02.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. lowered their target price on shares of Centuri from $28.00 to $19.00 and set a “neutral” rating for the company in a research note on Tuesday. UBS Group downgraded shares of Centuri from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $30.00 to $17.00 in a research report on Tuesday. Williams Capital raised Centuri to a “strong-buy” rating in a research note on Tuesday, May 14th. KeyCorp assumed coverage on shares of Centuri in a research report on Thursday, June 27th. They set a “sector weight” rating on the stock. Finally, Robert W. Baird began coverage on shares of Centuri in a research report on Monday, May 13th. They set an “outperform” rating and a $30.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $20.60.

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.