Centuri (NYSE:CTRI) Posts Earnings Results, Beats Expectations By $0.01 EPS

Centuri (NYSE:CTRI) announced its earnings results on Monday. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates 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 business’s revenue was down 16.6% compared to the same quarter last year. Centuri updated its FY 2024 guidance to EPS.

Centuri Stock Up 4.0 %

Shares of NYSE:CTRI traded up $0.63 during trading on Wednesday, reaching $16.41. The company’s stock had a trading volume of 285,826 shares, compared to its average volume of 659,047. 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 company’s 50 day moving average price is $23.02. Centuri has a 12 month low of $14.73 and a 12 month high of $28.65.

Analyst Ratings Changes

A number of research firms have recently commented on CTRI. Wells Fargo & Company dropped their price target on Centuri from $29.00 to $22.00 and set an “overweight” rating on the stock in a research report on Tuesday. UBS Group downgraded Centuri from a “buy” rating to a “neutral” rating and cut their target price for the company from $30.00 to $17.00 in a research report on Tuesday. JPMorgan Chase & Co. lowered their target price on Centuri from $28.00 to $19.00 and set a “neutral” rating for the company in a report on Tuesday. Robert W. Baird started coverage on Centuri in a research report on Monday, May 13th. They set an “outperform” rating and a $30.00 target price on the stock. Finally, Bank of America cut their price target on Centuri from $21.00 to $15.00 and set an “underperform” rating on the stock in a report on Tuesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.