Zacks Reiterates Neutral Rating for CenturyLink (CTL)
CenturyLink (NYSE:CTL)‘s stock had its “neutral” rating reiterated by Zacks in a research note issued on Friday. They currently have a $39.00 price target on the stock. Zacks‘s price target would indicate a potential upside of 4.59% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Sanford C. Bernstein initiated coverage on shares of CenturyLink in a research note on Thursday, May 22nd. They set a “market perform” rating on the stock. Separately, analysts at Bernstein initiated coverage on shares of CenturyLink in a research note on Wednesday, May 21st. They set a “market perform” rating and a $36.00 price target on the stock. Finally, analysts at Morgan Stanley downgraded shares of CenturyLink from an “overweight” rating to an “equal weight” rating in a research note on Monday, May 19th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $33.88.
CenturyLink (NYSE:CTL) traded down 1.31% on Friday, hitting $36.80. 2,254,676 shares of the company’s stock traded hands. CenturyLink has a 52-week low of $27.93 and a 52-week high of $38.21. The stock has a 50-day moving average of $36.89 and a 200-day moving average of $32.82. The company’s market cap is $21.077 billion. CenturyLink also was the recipient of a large decrease in short interest in May. As of May 30th, there was short interest totalling 40,022,821 shares, a decrease of 11.5% from the May 15th total of 45,200,446 shares. Currently, 7.0% of the company’s shares are sold short. Based on an average daily volume of 4,832,623 shares, the days-to-cover ratio is currently 8.3 days.
CenturyLink (NYSE:CTL) last announced its earnings results on Wednesday, May 7th. The company reported $0.66 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.76 earnings per share. The company’s quarterly revenue was up .6% on a year-over-year basis. On average, analysts predict that CenturyLink will post $2.61 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, June 20th. Shareholders of record on Monday, June 9th will be paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 5.79%. The ex-dividend date is Thursday, June 5th.
CenturyLink, Inc (NYSE:CTL) is an integrated communications company.
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