Centrica (CNA) Rating Increased to Buy at Goldman Sachs Group

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Centrica (LON:CNA) was upgraded by Goldman Sachs Group to a “buy” rating in a research report issued on Tuesday, September 18th. The brokerage presently has a GBX 176 ($2.30) price objective on the integrated energy company’s stock, up from their previous price objective of GBX 163 ($2.13). Goldman Sachs Group’s price objective indicates a potential upside of 20.71% from the stock’s current price.

A number of other brokerages have also recently issued reports on CNA. Deutsche Bank reiterated a “sell” rating on shares of Centrica in a report on Thursday, August 9th. Berenberg Bank reduced their price objective on shares of Centrica from GBX 240 ($3.14) to GBX 170 ($2.22) and set a “buy” rating for the company in a report on Wednesday, July 18th. JPMorgan Chase & Co. upgraded shares of Centrica to an “overweight” rating and lifted their price objective for the company from GBX 150 ($1.96) to GBX 180 ($2.35) in a report on Wednesday, June 6th. HSBC cut shares of Centrica to a “reduce” rating and lifted their price objective for the company from GBX 130 ($1.70) to GBX 142 ($1.86) in a report on Friday, September 7th. Finally, Jefferies Financial Group upgraded shares of Centrica to a “buy” rating and lifted their price objective for the company from GBX 140 ($1.83) to GBX 165 ($2.16) in a report on Tuesday, June 12th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of GBX 165.23 ($2.16).

CNA traded down GBX 1.30 ($0.02) during midday trading on Tuesday, hitting GBX 145.80 ($1.91). The company had a trading volume of 42,095,659 shares, compared to its average volume of 26,600,000. Centrica has a 52 week low of GBX 119.71 ($1.56) and a 52 week high of GBX 221 ($2.89).

Centrica (LON:CNA) last posted its quarterly earnings results on Tuesday, July 31st. The integrated energy company reported GBX 6.40 ($0.08) earnings per share for the quarter, missing the consensus estimate of GBX 9.80 ($0.13) by GBX (3.40) (($0.04)). Centrica had a net margin of 2.16% and a return on equity of 21.95%.

In related news, insider Jeff Bell sold 81,009 shares of the business’s stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of GBX 147 ($1.92), for a total transaction of £119,083.23 ($155,603.33). Also, insider Margherita D. Valle purchased 1,340 shares of the business’s stock in a transaction that occurred on Tuesday, September 25th. The shares were purchased at an average price of GBX 148 ($1.93) per share, for a total transaction of £1,983.20 ($2,591.40). Over the last 90 days, insiders have purchased 4,236 shares of company stock worth $623,715.

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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Analyst Recommendations for Centrica (LON:CNA)

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