IMS Capital Management acquired a new position in shares of CenturyLink, Inc. (NYSE:CTL) during the second quarter, according to its most recent 13F filing with the SEC. The fund acquired 34,748 shares of the technology company’s stock, valued at approximately $830,000.
Several other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of CenturyLink by 19.4% in the first quarter. Vanguard Group Inc. now owns 46,767,917 shares of the technology company’s stock worth $1,102,321,000 after buying an additional 7,600,609 shares in the last quarter. State Street Corp raised its stake in shares of CenturyLink by 1.0% in the first quarter. State Street Corp now owns 31,157,907 shares of the technology company’s stock worth $734,384,000 after buying an additional 293,702 shares in the last quarter. American International Group Inc. raised its stake in shares of CenturyLink by 1.4% in the first quarter. American International Group Inc. now owns 15,944,716 shares of the technology company’s stock worth $375,817,000 after buying an additional 214,210 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of CenturyLink by 10.0% in the first quarter. Geode Capital Management LLC now owns 6,721,808 shares of the technology company’s stock worth $158,256,000 after buying an additional 613,038 shares in the last quarter. Finally, Thornburg Investment Management Inc. raised its stake in shares of CenturyLink by 107.8% in the first quarter. Thornburg Investment Management Inc. now owns 6,521,497 shares of the technology company’s stock worth $153,712,000 after buying an additional 3,383,155 shares in the last quarter. 77.77% of the stock is owned by hedge funds and other institutional investors.
CenturyLink, Inc. (NYSE CTL) opened at 20.54 on Wednesday. The firm has a market cap of $11.29 billion, a PE ratio of 29.77 and a beta of 0.87. CenturyLink, Inc. has a 52-week low of $20.53 and a 52-week high of $33.45. The firm has a 50-day moving average of $22.99 and a 200-day moving average of $24.23.
CenturyLink (NYSE:CTL) last released its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.49 by $0.03. The firm had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.09 billion. CenturyLink had a net margin of 2.20% and a return on equity of 8.43%. The business’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.63 earnings per share. Equities analysts anticipate that CenturyLink, Inc. will post $1.95 EPS for the current year.
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A number of equities research analysts recently issued reports on CTL shares. UBS AG set a $29.00 price objective on shares of CenturyLink and gave the company a “buy” rating in a report on Thursday, June 22nd. BidaskClub lowered shares of CenturyLink from a “buy” rating to a “hold” rating in a report on Tuesday, June 20th. Cowen and Company upped their price objective on shares of CenturyLink from $25.00 to $27.00 and gave the company a “market perform” rating in a report on Wednesday, July 5th. Vetr raised shares of CenturyLink from a “buy” rating to a “strong-buy” rating and set a $27.12 price objective for the company in a report on Monday, May 8th. Finally, Raymond James Financial, Inc. reissued an “underperform” rating on shares of CenturyLink in a report on Monday, May 15th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $26.22.
CenturyLink Company Profile
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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