Centurylink (CTL) Shares Up 0.1%

Centurylink Inc (NYSE:CTL) shot up 0.1% during mid-day trading on Thursday . The stock traded as high as $17.54 and last traded at $17.51. 5,256,357 shares changed hands during mid-day trading, a decline of 62% from the average session volume of 13,727,271 shares. The stock had previously closed at $17.48.

Several brokerages have recently issued reports on CTL. Zacks Investment Research upgraded shares of Centurylink from a “sell” rating to a “hold” rating in a research note on Friday, October 13th. Barclays decreased their price target on shares of Centurylink from $23.00 to $19.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 4th. Jefferies Group reiterated a “hold” rating and set a $22.00 price target on shares of Centurylink in a research note on Tuesday, October 3rd. Deutsche Bank decreased their price target on shares of Centurylink from $23.00 to $20.00 and set a “hold” rating on the stock in a research note on Tuesday, October 10th. Finally, ValuEngine upgraded shares of Centurylink from a “hold” rating to a “buy” rating in a research note on Tuesday, October 17th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Centurylink has an average rating of “Hold” and a consensus price target of $22.37.

The company has a debt-to-equity ratio of 1.92, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market capitalization of $18,675.48, a P/E ratio of 9.01, a price-to-earnings-growth ratio of -7.80 and a beta of 0.79.

Centurylink (NYSE:CTL) last posted its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.42 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.03). Centurylink had a return on equity of 7.99% and a net margin of 1.89%. The business had revenue of $4.03 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same quarter in the prior year, the firm earned $0.56 EPS. The firm’s quarterly revenue was down 7.9% on a year-over-year basis. equities analysts forecast that Centurylink Inc will post 1.56 earnings per share for the current year.

In other news, CEO Glen F. Post III bought 50,000 shares of Centurylink stock in a transaction dated Friday, December 8th. The shares were bought at an average price of $14.17 per share, for a total transaction of $708,500.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Jeffrey K. Storey bought 71,000 shares of Centurylink stock in a transaction dated Friday, December 8th. The stock was purchased at an average price of $14.30 per share, for a total transaction of $1,015,300.00. Following the purchase, the chief operating officer now directly owns 2,498,668 shares in the company, valued at approximately $35,730,952.40. The disclosure for this purchase can be found here. Insiders bought a total of 150,595 shares of company stock worth $2,154,131 in the last 90 days. 0.61% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of CTL. Vanguard Group Inc. boosted its stake in shares of Centurylink by 22.6% in the 2nd quarter. Vanguard Group Inc. now owns 57,351,163 shares of the technology company’s stock valued at $1,369,547,000 after purchasing an additional 10,583,246 shares in the last quarter. Capital World Investors acquired a new stake in shares of Centurylink in the 2nd quarter valued at $142,086,000. Fiduciary Management Inc. WI acquired a new stake in shares of Centurylink in the 2nd quarter valued at $86,411,000. Samlyn Capital LLC acquired a new stake in shares of Centurylink in the 2nd quarter valued at $80,290,000. Finally, Voya Investment Management LLC boosted its stake in shares of Centurylink by 593.8% in the 2nd quarter. Voya Investment Management LLC now owns 3,545,827 shares of the technology company’s stock valued at $84,674,000 after purchasing an additional 3,034,743 shares in the last quarter. Institutional investors own 82.32% of the company’s stock.

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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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