Centrus Energy (NYSE:LEU) Shares Gap Down After Earnings Miss

Shares of Centrus Energy Corp. (NYSE:LEU) gapped down prior to trading on Tuesday following a weaker than expected earnings announcement. The stock had previously closed at $93.88, but opened at $89.05. Centrus Energy shares last traded at $88.00, with a volume of 348,004 shares.

The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.48). Centrus Energy had a return on equity of 299.92% and a net margin of 22.96%. The firm had revenue of $57.70 million during the quarter, compared to analyst estimates of $56.50 million.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Roth Mkm downgraded shares of Centrus Energy from a “buy” rating to a “neutral” rating and raised their price target for the stock from $55.00 to $62.00 in a research note on Thursday, October 10th. StockNews.com upgraded Centrus Energy to a “sell” rating in a report on Wednesday, August 7th. Finally, Roth Capital downgraded Centrus Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $67.00.

Institutional Trading of Centrus Energy

Hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new position in Centrus Energy in the third quarter valued at approximately $281,000. The Manufacturers Life Insurance Company purchased a new stake in Centrus Energy in the second quarter valued at $233,000. Vontobel Holding Ltd. lifted its stake in shares of Centrus Energy by 17.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 5,520 shares of the company’s stock valued at $303,000 after purchasing an additional 815 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in shares of Centrus Energy by 53.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 148,251 shares of the company’s stock worth $6,338,000 after purchasing an additional 51,836 shares during the period. Finally, Exchange Traded Concepts LLC grew its holdings in shares of Centrus Energy by 81.8% during the 3rd quarter. Exchange Traded Concepts LLC now owns 18,174 shares of the company’s stock worth $997,000 after purchasing an additional 8,177 shares during the period. Hedge funds and other institutional investors own 49.96% of the company’s stock.

Centrus Energy Stock Up 10.3 %

The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of 15.69 and a beta of 1.32. The business has a 50-day moving average of $54.87 and a 200-day moving average of $47.31. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.02 and a current ratio of 1.52.

About Centrus Energy

Centrus Energy Corp. supplies nuclear fuel components and services for the nuclear power industry in the United States, Belgium, Japan, and internationally. The company operates through two segments, Low-Enriched Uranium (LEU) and Technical Solutions. The LEU segment sells separative work units (SWU) components of LEU; natural uranium hexafluoride, uranium concentrates, and uranium conversion; and enriched uranium products to utilities that operate nuclear power plants.