Centrica (CNA) Posts Quarterly Earnings Results, Misses Expectations By $3.40 EPS

Centrica (LON:CNA) released its quarterly earnings results on Tuesday. The integrated energy company reported GBX 6.40 ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of GBX 9.80 ($0.13) by GBX (3.40) (($0.04)), Bloomberg Earnings reports. Centrica had a return on equity of 21.95% and a net margin of 2.16%.

Shares of CNA stock traded down GBX 1.95 ($0.03) during mid-day trading on Thursday, reaching GBX 141.80 ($1.86). The stock had a trading volume of 23,912,420 shares, compared to its average volume of 26,600,000. Centrica has a one year low of GBX 119.71 ($1.57) and a one year high of GBX 221 ($2.90).

The company also recently disclosed a dividend, which will be paid on Thursday, November 22nd. Shareholders of record on Thursday, October 11th will be given a GBX 3.60 ($0.05) dividend. The ex-dividend date of this dividend is Thursday, October 11th. This represents a dividend yield of 2.48%.

Several analysts recently weighed in on the company. Deutsche Bank restated a “sell” rating on shares of Centrica in a research note on Wednesday. Berenberg Bank decreased their target price on Centrica from GBX 240 ($3.15) to GBX 170 ($2.23) and set a “buy” rating for the company in a research note on Wednesday, July 18th. Credit Suisse Group increased their target price on Centrica from GBX 175 ($2.30) to GBX 185 ($2.43) and gave the company an “outperform” rating in a research note on Monday, June 25th. Jefferies Financial Group upgraded Centrica to a “buy” rating and increased their target price for the company from GBX 140 ($1.84) to GBX 165 ($2.17) in a research note on Tuesday, June 12th. Finally, JPMorgan Chase & Co. upgraded Centrica to an “overweight” rating and increased their target price for the company from GBX 150 ($1.97) to GBX 180 ($2.36) in a research note on Wednesday, June 6th. Four research analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. Centrica presently has a consensus rating of “Hold” and a consensus price target of GBX 165.42 ($2.17).

In other Centrica news, insider Mark Hanafin sold 89,365 shares of the firm’s stock in a transaction that occurred on Tuesday, May 8th. The stock was sold at an average price of GBX 154 ($2.02), for a total value of £137,622.10 ($180,820.00). Also, insider Margherita D. Valle acquired 1,259 shares of Centrica stock in a transaction on Monday, June 25th. The stock was purchased at an average price of GBX 157 ($2.06) per share, with a total value of £1,976.63 ($2,597.07). Insiders acquired a total of 4,221 shares of company stock valued at $637,977 in the last quarter.

Centrica Company Profile

Centrica plc operates as an integrated energy company in the United Kingdom, the Republic of Ireland, Germany, Norway, rest of Europe, the United States, Canada, and internationally. The company operates through Centrica Consumer, Centrica Business, Exploration & Production, and Centrica Storage segments.

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