Lifeworks Advisors LLC has acquired a new stake in Centrus Energy Corp. (NYSE:LEU), as detailed in the firm’s recent 13F filing with the Securities and Exchange Commission. During the second quarter, Lifeworks purchased 1,566 shares valued at approximately $287,000. This acquisition marks a notable addition to the fund’s portfolio as interest in Centrus Energy continues to grow among institutional investors.
Other entities have also made moves in Centrus Energy recently. For instance, Stone House Investment Management LLC acquired a new stake valued at around $28,000 in the first quarter. Additionally, Nisa Investment Advisors LLC significantly increased its holdings by 157.7% in the second quarter, bringing their total to 183 shares valued at $34,000. USA Financial Formulas and Harbour Investments Inc. have also made substantial investments, with the latter increasing their stake by a remarkable 1,181.3% during the same quarter.
Currently, hedge funds and other institutional investors own 49.96% of Centrus Energy stock, reflecting a strong institutional interest in the company.
Analyst Ratings and Market Performance
Analysts have been actively evaluating shares of Centrus Energy, with several issuing recent reports. On July 9, 2023, William Blair reaffirmed an “outperform” rating for the stock. Following this, the UBS Group upgraded Centrus Energy to a “hold” rating with a price target of $215.00 on July 21. Northland Capital Markets followed suit with a “strong-buy” rating on July 7.
In a more bullish outlook, HC Wainwright reiterated a “buy” rating with a price target of $300.00 on August 26. Meanwhile, Bank of America adjusted its rating to “neutral” with an updated price target of $285.00, up from a previous $210.00 on August 7. Overall, data from MarketBeat shows that one analyst rates the stock as a Strong Buy, seven have assigned a Buy rating, and four have given it a Hold rating, resulting in a consensus rating of “Moderate Buy” with an average price target of $227.60.
Centrus Energy’s Financial Overview
As of the latest trading session, shares of Centrus Energy opened at $367.46. The company has experienced significant fluctuations over the past year, with a low of $49.40 and a high of $464.25. Centrus Energy boasts a market capitalization of $6.69 billion, a price-to-earnings ratio of 83.32, and a beta of 1.51. Its financial health is further indicated by a debt-to-equity ratio of 3.09, a quick ratio of 2.46, and a current ratio of 2.93.
The company’s latest quarterly earnings report, released on August 5, revealed earnings per share of $1.59, surpassing analysts’ expectations of $0.58 by a substantial margin. Centrus Energy recorded a return on equity of 84.09%, alongside a net margin of 16.56%. Despite these positive results, the company reported an 18.3% decline in quarterly revenue year-over-year, with analysts forecasting an EPS of 2.63 for the current fiscal year.
Centrus Energy Corp. specializes in supplying nuclear fuel components and services for the nuclear power industry, operating primarily in the United States, Belgium, Japan, and other international markets. The company conducts its operations through two segments: Low-Enriched Uranium (LEU) and Technical Solutions, with the former focusing on the sale of separative work units, natural uranium hexafluoride, and enriched uranium products for nuclear power utilities.
Investors are closely monitoring Centrus Energy’s performance, given the increasing interest from institutional investors and the company’s recent financial results. As the energy market continues to evolve, Centrus Energy’s strategic decisions and performance will be significant indicators in the nuclear energy sector.
