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Investment analysts at Bernstein initiated coverage on shares of CenturyLink (NYSE:CTL) in a note issued to investors on Wednesday. The firm set a “market perform” rating and a $36.00 price target on the stock. Bernstein’s price objective suggests a potential downside of 3.15% from the company’s current price.

In other CenturyLink news, CFO R Stewart Ewing, Jr. sold 20,600 shares of the stock on the open market in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $36.75, for a total value of $757,050.00. Following the completion of the transaction, the chief financial officer now directly owns 235,134 shares of the company’s stock, valued at approximately $8,641,175. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

CenturyLink (NYSE:CTL) traded down 1.09% on Wednesday, hitting $37.17. 5,425,937 shares of the company’s stock traded hands. CenturyLink has a one year low of $27.93 and a one year high of $38.21. The stock’s 50-day moving average is $35.0 and its 200-day moving average is $31.99. The company’s market cap is $21.289 billion.

CenturyLink (NYSE:CTL) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.66 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.76 earnings per share. CenturyLink’s revenue was up .6% compared to the same quarter last year. On average, analysts predict that CenturyLink will post $2.62 earnings per share for the current fiscal year.

A number of other firms have also recently commented on CTL. Analysts at Morgan Stanley downgraded shares of CenturyLink from an “overweight” rating to an “equal weight” rating in a research note on Monday. Separately, analysts at DA Davidson raised their price target on shares of CenturyLink from $26.00 to $30.00 in a research note on Friday, May 16th. They now have an “underperform” rating on the stock. Finally, analysts at BMO Capital Markets downgraded shares of CenturyLink from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 6th. They now have a $33.00 price target on the stock, up previously from $32.00. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. CenturyLink presently has an average rating of “Hold” and a consensus price target of $33.10.

CenturyLink, Inc (NYSE:CTL) is an integrated communications company.

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