CenturyLink, Inc. (NYSE:CTL)‘s stock had its “buy” rating reiterated by Bank of America Corp in a research note issued to investors on Tuesday, May 9th.
Other equities research analysts have also recently issued reports about the stock. Jefferies Group LLC dropped their target price on shares of CenturyLink from $26.00 to $23.00 and set a “hold” rating for the company in a research report on Thursday, May 4th. Morgan Stanley reiterated an “overweight” rating and issued a $27.00 price target on shares of CenturyLink in a research note on Wednesday, March 29th. Cowen and Company set a $25.00 price target on shares of CenturyLink and gave the stock a “market perform” rating in a research note on Thursday, May 4th. Vetr lowered shares of CenturyLink from a “strong-buy” rating to a “buy” rating and set a $25.27 price objective for the company. in a research note on Monday, March 13th. Finally, Zacks Investment Research lowered shares of CenturyLink from a “buy” rating to a “hold” rating in a research note on Friday, May 5th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. CenturyLink currently has a consensus rating of “Hold” and an average price target of $26.24.
Shares of CenturyLink (NYSE CTL) traded up 0.26% during trading on Tuesday, reaching $27.31. 10,311,725 shares of the company were exchanged. The stock has a 50-day moving average price of $25.32 and a 200-day moving average price of $24.63. CenturyLink has a one year low of $22.33 and a one year high of $33.45. The stock has a market capitalization of $14.99 billion, a PE ratio of 26.77 and a beta of 0.87.
CenturyLink (NYSE:CTL) last posted its earnings results on Wednesday, May 3rd. The technology company reported $0.52 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by $0.01. CenturyLink had a return on equity of 8.96% and a net margin of 3.20%. The company had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.27 billion. During the same period in the prior year, the business posted $0.71 earnings per share. The company’s revenue for the quarter was down 4.4% on a year-over-year basis. Analysts forecast that CenturyLink will post $2.11 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 16th. Shareholders of record on Monday, June 5th will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 7.91%. The ex-dividend date of this dividend is Thursday, June 1st. CenturyLink’s dividend payout ratio is currently 211.77%.
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A number of institutional investors have recently modified their holdings of CTL. FNY Managed Accounts LLC bought a new stake in CenturyLink during the first quarter valued at about $120,000. Exane Derivatives boosted its stake in CenturyLink by 29.7% in the first quarter. Exane Derivatives now owns 5,209 shares of the technology company’s stock valued at $123,000 after buying an additional 1,194 shares during the last quarter. Independent Advisor Alliance bought a new stake in CenturyLink during the fourth quarter valued at about $142,000. Focused Wealth Management Inc boosted its stake in CenturyLink by 6.8% in the fourth quarter. Focused Wealth Management Inc now owns 6,308 shares of the technology company’s stock valued at $150,000 after buying an additional 400 shares during the last quarter. Finally, Ledyard National Bank boosted its stake in CenturyLink by 7,467.0% in the first quarter. Ledyard National Bank now owns 7,340 shares of the technology company’s stock valued at $173,000 after buying an additional 7,243 shares during the last quarter. 77.49% of the stock is currently owned by institutional investors and hedge funds.
CenturyLink, Inc is an integrated communications company. The Company is engaged in providing an array of communications services to its residential and business customers. Its segments include business, which provides strategic, legacy and data integration products and services to small, medium and enterprise business, wholesale and governmental customers, including other communication providers, and consumer, which provides strategic and legacy products and services to residential customers.
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