Morgan Stanley Downgrades Centrica (CNA) to Underweight

Centrica (LON:CNA) was downgraded by analysts at Morgan Stanley to an “underweight” rating in a research note issued to investors on Wednesday.

A number of other research firms also recently weighed in on CNA. JPMorgan Chase restated a “neutral” rating on shares of Centrica in a research report on Monday, February 26th. Kepler Capital Markets reduced their price objective on Centrica from GBX 190 ($2.58) to GBX 160 ($2.17) and set a “buy” rating on the stock in a research note on Wednesday, February 28th. Deutsche Bank reaffirmed a “sell” rating and set a GBX 125 ($1.70) price objective on shares of Centrica in a research note on Wednesday, January 31st. Royal Bank of Canada raised Centrica to an “outperform” rating and raised their price objective for the company from GBX 150 ($2.03) to GBX 175 ($2.37) in a research note on Monday, February 26th. Finally, HSBC cut Centrica to a “reduce” rating and reduced their price objective for the company from GBX 150 ($2.03) to GBX 120 ($1.63) in a research note on Wednesday, April 11th. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. Centrica presently has an average rating of “Hold” and a consensus target price of GBX 174.63 ($2.37).

Shares of CNA stock opened at GBX 142 ($1.93) on Wednesday. Centrica has a 52-week low of GBX 119.71 ($1.62) and a 52-week high of GBX 221 ($3.00).

Centrica (LON:CNA) last released its quarterly earnings results on Thursday, February 22nd. The integrated energy company reported GBX 12.60 ($0.17) earnings per share for the quarter, meeting the Zacks’ consensus estimate of GBX 12.60 ($0.17). Centrica had a return on equity of 21.95% and a net margin of 2.16%. The business had revenue of GBX 2,802.30 billion for the quarter.

In other news, insider Jeff Bell acquired 40,000 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were acquired at an average cost of GBX 141 ($1.91) per share, with a total value of £56,400 ($76,505.70). Also, insider Mark Hanafin sold 89,365 shares of Centrica stock in a transaction that occurred on Tuesday, May 8th. The shares were sold at an average price of GBX 154 ($2.09), for a total value of £137,622.10 ($186,682.18). Over the last ninety days, insiders have acquired 44,895 shares of company stock worth $6,335,844.

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.

Analyst Recommendations for Centrica (LON:CNA)

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