Centrus Energy (NYSEAMERICAN:LEU) Raised to Buy at Zacks Investment Research

Centrus Energy (NYSEAMERICAN:LEUGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research report issued to clients and investors on Thursday, Zacks.com reports. The firm presently has a $23.00 price target on the basic materials company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 22.99% from the stock’s current price.

According to Zacks, “Centrus Energy Corp. is a supplier of enriched uranium fuel for commercial nuclear power plants. The Company operates in two segments, LEU and Contract Services. Its LEU is a component in the production of nuclear fuel for reactors to produce electricity. The Company also provides contract work services for the U.S. Department of Energy and its contractors. Centrus Energy Corp., formerly known as USEC Inc., is headquartered in Bethesda, Maryland. “

Other research analysts have also issued reports about the company. Roth Capital lowered Centrus Energy from a “buy” rating to a “neutral” rating and set a $50.00 price objective for the company. in a research report on Friday, March 11th. Lake Street Capital downgraded Centrus Energy from a “buy” rating to a “hold” rating and reduced their target price for the company from $90.00 to $70.00 in a research note on Monday, March 14th.

Shares of LEU opened at $18.70 on Thursday. Centrus Energy has a 52 week low of $18.63 and a 52 week high of $88.88. The firm has a market capitalization of $269.15 million, a PE ratio of 1.96 and a beta of 2.43.

Centrus Energy (NYSEAMERICAN:LEUGet Rating) last announced its earnings results on Thursday, May 5th. The basic materials company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.50). Centrus Energy had a negative return on equity of 91.68% and a net margin of 58.67%. On average, sell-side analysts predict that Centrus Energy will post 3.22 earnings per share for the current fiscal year.

In other Centrus Energy news, CEO Daniel B. Poneman sold 12,000 shares of Centrus Energy stock in a transaction that occurred on Monday, March 28th. The shares were sold at an average price of $32.03, for a total transaction of $384,360.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Daniel B. Poneman sold 11,900 shares of Centrus Energy stock in a transaction that occurred on Wednesday, April 27th. The stock was sold at an average price of $28.50, for a total transaction of $339,150.00. Following the transaction, the chief executive officer now directly owns 63,534 shares in the company, valued at approximately $1,810,719. The disclosure for this sale can be found here. Insiders have sold a total of 35,900 shares of company stock valued at $1,252,590 in the last quarter. Company insiders own 14.00% of the company’s stock.

Several institutional investors have recently bought and sold shares of LEU. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Centrus Energy by 24.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 543,836 shares of the basic materials company’s stock worth $27,143,000 after buying an additional 105,618 shares in the last quarter. BlackRock Inc. lifted its position in shares of Centrus Energy by 13.5% during the 4th quarter. BlackRock Inc. now owns 593,590 shares of the basic materials company’s stock worth $29,626,000 after buying an additional 70,635 shares in the last quarter. Invesco Ltd. bought a new position in shares of Centrus Energy during the 3rd quarter worth approximately $2,411,000. EAM Investors LLC bought a new position in shares of Centrus Energy during the 3rd quarter worth approximately $1,907,000. Finally, Los Angeles Capital Management LLC bought a new position in shares of Centrus Energy during the 1st quarter worth approximately $1,533,000. 52.44% of the stock is currently owned by hedge funds and other institutional investors.

About Centrus Energy (Get Rating)

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

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