Centuri (NYSE:CTRI) Issues Earnings Results, Beats Expectations By $0.05 EPS
by Scott Moore · The Cerbat GemCenturi (NYSE:CTRI – Get Free Report) released its quarterly earnings results on Wednesday. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.05, FiscalAI reports. Centuri had a net margin of 0.98% and a return on equity of 6.03%. The business had revenue of $688.69 million for the quarter, compared to analysts’ expectations of $618.87 million. During the same quarter in the previous year, the business posted ($0.12) earnings per share. The firm’s revenue for the quarter was up 31.5% compared to the same quarter last year.
Centuri Stock Performance
CTRI stock traded down $8.27 during midday trading on Thursday, reaching $33.53. 5,148,391 shares of the company’s stock traded hands, compared to its average volume of 1,220,765. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.82. Centuri has a 52-week low of $17.97 and a 52-week high of $42.99. The stock has a market cap of $3.38 billion, a P/E ratio of 98.61, a PEG ratio of 1.74 and a beta of 1.34. The stock’s 50-day moving average is $31.88 and its 200 day moving average is $27.61.
Analyst Upgrades and Downgrades
Several research firms have weighed in on CTRI. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Centuri in a research report on Friday, March 27th. Cantor Fitzgerald increased their target price on Centuri from $35.25 to $37.40 and gave the stock an “overweight” rating in a research report on Wednesday, March 25th. Finally, Wells Fargo & Company dropped their price target on Centuri from $34.00 to $32.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 1st. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $28.85.
Read Our Latest Analysis on Centuri
Hedge Funds Weigh In On Centuri
Several institutional investors and hedge funds have recently bought and sold shares of CTRI. Invesco Ltd. increased its stake in shares of Centuri by 35.2% in the fourth quarter. Invesco Ltd. now owns 73,836 shares of the company’s stock worth $1,864,000 after purchasing an additional 19,227 shares in the last quarter. SkyView Investment Advisors LLC purchased a new position in shares of Centuri during the 4th quarter valued at $253,000. XTX Topco Ltd boosted its holdings in Centuri by 229.7% in the 4th quarter. XTX Topco Ltd now owns 126,392 shares of the company’s stock worth $3,191,000 after buying an additional 88,061 shares during the period. Symmetry Investments LP purchased a new stake in Centuri in the 4th quarter worth $1,010,000. Finally, Tudor Investment Corp ET AL increased its stake in Centuri by 27.7% in the 4th quarter. Tudor Investment Corp ET AL now owns 301,013 shares of the company’s stock worth $7,601,000 after buying an additional 65,207 shares in the last quarter.
About Centuri
Centuri Construction Group, Inc (NYSE: CTRI) is a heavy civil contractor specializing in water and wastewater infrastructure projects. The company delivers end-to-end services encompassing design-build, engineering, procurement and construction for water transmission mains, wastewater force mains, treatment facilities, pump and lift stations, and stormwater management systems.
Centuri’s core offerings include pipeline installation and rehabilitation, civil sitework, earthwork, structural concrete and slope protection.