CenturyLink, Inc. (NYSE:CTL)‘s stock had its “hold” rating reiterated by equities research analysts at SunTrust Banks, Inc. in a report issued on Wednesday. They presently have a $25.00 price objective on the technology company’s stock. SunTrust Banks, Inc.’s price target indicates a potential upside of 31.65% from the company’s current price.
Other research analysts have also recently issued research reports about the company. ValuEngine upgraded CenturyLink from a “hold” rating to a “buy” rating in a report on Friday, August 18th. Jefferies Group LLC reiterated a “hold” rating and issued a $22.00 target price on shares of CenturyLink in a report on Tuesday, October 3rd. Royal Bank Of Canada reiterated a “hold” rating and issued a $25.00 target price on shares of CenturyLink in a report on Monday, September 18th. BidaskClub upgraded CenturyLink from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Finally, Deutsche Bank AG reduced their target price on CenturyLink from $23.00 to $20.00 and set a “hold” rating on the stock in a report on Tuesday, October 10th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. CenturyLink has a consensus rating of “Hold” and a consensus target price of $24.79.
CenturyLink (NYSE CTL) traded down 5.42% during trading on Wednesday, reaching $17.96. The company had a trading volume of 14,576,623 shares. The company has a market capitalization of $9.87 billion, a P/E ratio of 26.03 and a beta of 0.89. CenturyLink has a 12 month low of $17.07 and a 12 month high of $27.61. The firm’s 50 day moving average is $19.15 and its 200-day moving average is $22.40.
CenturyLink (NYSE:CTL) last issued its earnings results on Wednesday, August 2nd. The technology company reported $0.46 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.03). CenturyLink had a net margin of 2.20% and a return on equity of 8.43%. The firm had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.09 billion. During the same quarter in the previous year, the business posted $0.63 EPS. CenturyLink’s revenue was down 7.0% compared to the same quarter last year. On average, equities analysts expect that CenturyLink will post $1.94 earnings per share for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in CTL. Thrivent Financial For Lutherans increased its position in shares of CenturyLink by 5.9% during the first quarter. Thrivent Financial For Lutherans now owns 20,192 shares of the technology company’s stock worth $476,000 after acquiring an additional 1,130 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in shares of CenturyLink during the first quarter worth about $240,000. Bank of Nova Scotia increased its position in shares of CenturyLink by 944.4% during the first quarter. Bank of Nova Scotia now owns 125,115 shares of the technology company’s stock worth $2,949,000 after acquiring an additional 113,135 shares during the last quarter. Sowell Financial Services LLC increased its position in shares of CenturyLink by 8.2% during the first quarter. Sowell Financial Services LLC now owns 74,376 shares of the technology company’s stock worth $1,856,000 after acquiring an additional 5,608 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its position in shares of CenturyLink by 6.4% during the first quarter. Nuveen Asset Management LLC now owns 607,477 shares of the technology company’s stock worth $14,318,000 after acquiring an additional 36,637 shares during the last quarter. 82.73% 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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