CENT PUERTO S A/S (NYSE:CEPU) Downgraded to “Underperform” at Bank of America

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Bank of America downgraded shares of CENT PUERTO S A/S (NYSE:CEPU) from a neutral rating to an underperform rating in a research note released on Tuesday morning, BenzingaRatingsTable reports. Bank of America currently has $7.50 target price on the stock, down from their previous target price of $20.00.

Several other research firms have also recently weighed in on CEPU. ValuEngine raised CENT PUERTO S A/S from a sell rating to a hold rating in a report on Thursday, August 1st. Zacks Investment Research cut CENT PUERTO S A/S from a hold rating to a strong sell rating in a report on Tuesday, June 18th.

NYSE:CEPU opened at $3.74 on Tuesday. The firm has a 50-day simple moving average of $8.89. CENT PUERTO S A/S has a twelve month low of $3.60 and a twelve month high of $12.75. The stock has a market cap of $1.36 billion, a PE ratio of 0.92 and a beta of 0.64. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.18.

CENT PUERTO S A/S (NYSE:CEPU) last released its quarterly earnings results on Monday, May 13th. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.13). CENT PUERTO S A/S had a net margin of 47.31% and a return on equity of 30.42%. The business had revenue of $160.31 million during the quarter, compared to analysts’ expectations of $89.90 million. As a group, equities analysts expect that CENT PUERTO S A/S will post 1.3 earnings per share for the current fiscal year.

Several large investors have recently added to or reduced their stakes in CEPU. Deltec Asset Management LLC raised its holdings in shares of CENT PUERTO S A/S by 248.2% during the 2nd quarter. Deltec Asset Management LLC now owns 38,300 shares of the company’s stock valued at $355,000 after buying an additional 27,300 shares in the last quarter. Bienville Capital Management LLC purchased a new position in CENT PUERTO S A/S in the 1st quarter worth approximately $3,046,000. Millennium Management LLC increased its stake in CENT PUERTO S A/S by 66.6% in the 4th quarter. Millennium Management LLC now owns 179,076 shares of the company’s stock worth $1,647,000 after purchasing an additional 71,615 shares during the period. Marshall Wace LLP purchased a new position in CENT PUERTO S A/S in the 1st quarter worth approximately $926,000. Finally, Legal & General Group Plc increased its stake in CENT PUERTO S A/S by 211.2% in the 4th quarter. Legal & General Group Plc now owns 55,966 shares of the company’s stock worth $515,000 after purchasing an additional 37,984 shares during the period. 6.86% of the stock is currently owned by hedge funds and other institutional investors.

About CENT PUERTO S A/S

Central Puerto SA generates and sells electric power to private and public customers in Argentina. As of December 31, 2017, the company owned and operated five thermal generation plants and one hydroelectric generation plant with an installed capacity of 3,663 MW. It also operates a wind farm Achiras I with an installed capacity of 48 megawatts, as well as produces steam.

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