CenturyLink, Inc. (CTL) Bonds Drop 2.1% During Trading

An issue of CenturyLink, Inc. (NYSE:CTL) bonds fell 2.1% as a percentage of their face value during trading on Friday. The debt issue has a 7.6% coupon and will mature on September 15, 2039. The debt is now trading at $87.63 and was trading at $92.25 last week. Price changes in a company’s bonds in credit markets sometimes predict parallel changes in its stock price.

A number of research analysts have issued reports on CTL shares. Zacks Investment Research upgraded CenturyLink from a “sell” rating to a “hold” rating in a research note on Friday, October 13th. ValuEngine cut CenturyLink from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Cowen and Company reiterated a “hold” rating and set a $24.00 price objective on shares of CenturyLink in a research note on Thursday, October 19th. Deutsche Bank AG lowered their price objective on CenturyLink from $23.00 to $20.00 and set a “hold” rating for the company in a research note on Tuesday, October 10th. Finally, Morgan Stanley lowered their price objective on CenturyLink from $27.00 to $26.00 and set an “overweight” rating for the company in a research note on Wednesday, August 23rd. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $24.79.

Shares of CenturyLink, Inc. (NYSE:CTL) traded down $1.09 on Friday, hitting $16.37. The company had a trading volume of 16,920,000 shares, compared to its average volume of 15,929,446. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.90. CenturyLink, Inc. has a one year low of $16.31 and a one year high of $27.61. The company has a market capitalization of $8,997.10, a price-to-earnings ratio of 7.87, a P/E/G ratio of -4.18 and a beta of 0.88.

CenturyLink (NYSE:CTL) last issued its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.03). CenturyLink had a return on equity of 8.43% and a net margin of 2.20%. The firm had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.09 billion. During the same period in the previous year, the firm earned $0.63 EPS. The business’s revenue was down 7.0% on a year-over-year basis. research analysts anticipate that CenturyLink, Inc. will post 1.96 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of CTL. Endurance Wealth Management Inc. grew its holdings in shares of CenturyLink by 18.5% in the second quarter. Endurance Wealth Management Inc. now owns 4,650 shares of the technology company’s stock worth $111,000 after acquiring an additional 725 shares during the period. Patriot Financial Group Insurance Agency LLC grew its holdings in shares of CenturyLink by 178.6% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 6,684 shares of the technology company’s stock worth $134,000 after acquiring an additional 4,285 shares during the period. Blue Granite Capital LLC bought a new stake in shares of CenturyLink in the third quarter worth $136,000. Exane Derivatives grew its holdings in shares of CenturyLink by 27.6% in the second quarter. Exane Derivatives now owns 6,645 shares of the technology company’s stock worth $159,000 after acquiring an additional 1,436 shares during the period. Finally, Tower Research Capital LLC TRC bought a new stake in shares of CenturyLink in the second quarter worth $197,000. 82.73% of the stock is owned by institutional investors.

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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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