CenturyLink, Inc. (CTL) Updates Q2 Earnings Guidance
CenturyLink, Inc. (NYSE:CTL) updated its second quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.62-0.67 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.63, American Banking News.com reports. The company issued revenue guidance of $4.48-4.53, compared to the consensus revenue estimate of $4.49 billion.
CenturyLink, Inc. (NYSE:CTL) traded up 0.55% on Wednesday, hitting $34.65. 6,623,287 shares of the company’s stock traded hands. CenturyLink, Inc. has a 52-week low of $27.93 and a 52-week high of $38.40. The stock’s 50-day moving average is $33.54 and its 200-day moving average is $31.7. The company’s market cap is $20.026 billion.
CenturyLink (NYSE:CTL) last announced its earnings results on Wednesday, May 7th. The company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.05. The company had revenue of $4.54 billion for the quarter, compared to the consensus estimate of $4.48 billion. During the same quarter in the previous year, the company posted $0.76 earnings per share. The company’s revenue for the quarter was up .6% on a year-over-year basis. On average, analysts predict that CenturyLink, Inc. will post $2.55 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on CTL shares. Analysts at BMO Capital Markets downgraded shares of CenturyLink from an outperform rating to a market perform rating in a research note on Tuesday. They now have a $33.00 price target on the stock, up previously from $32.00. Finally, analysts at Zacks reiterated a neutral rating on shares of CenturyLink in a research note on Friday, March 14th. They now have a $32.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. The company presently has an average rating of Hold and an average price target of $34.17.
In other CenturyLink news, Insider Jeffrey Vondeylen sold 5,000 shares of the company’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $35.00, for a total transaction of $175,000.00. Following the sale, the insider now directly owns 80,284 shares in the company, valued at approximately $2,809,940. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
CenturyLink, Inc (NYSE:CTL) is an integrated communications company.
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