Goldman Sachs Initiates Coverage on CenturyLink (CTL)
Shares of CenturyLink (NYSE:CTL) traded down 0.54% during mid-day trading on Tuesday, hitting $40.7701. The stock had a trading volume of 963,534 shares. CenturyLink has a one year low of $27.93 and a one year high of $45.67. The stock’s 50-day moving average is $39.28 and its 200-day moving average is $35.75. The company’s market cap is $23.246 billion. CenturyLink also was the recipient of a significant decrease in short interest during the month of August. As of August 15th, there was short interest totalling 26,302,153 shares, a decrease of 31.2% from the July 31st total of 38,211,292 shares. Currently, 4.6% of the company’s shares are short sold. Based on an average daily volume of 4,458,924 shares, the short-interest ratio is currently 5.9 days.
CenturyLink (NYSE:CTL) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.08. The company had revenue of $4.54 billion for the quarter, compared to the consensus estimate of $4.50 billion. During the same quarter in the previous year, the company posted $0.69 earnings per share. The company’s revenue for the quarter was up .4% on a year-over-year basis. On average, analysts predict that CenturyLink will post $2.64 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 12th. Investors of record on Friday, August 29th will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 5.27%. The ex-dividend date of this dividend is Wednesday, August 27th.
A number of other analysts have also recently weighed in on CTL. Analysts at TheStreet upgraded shares of CenturyLink to a “buy” rating in a research note on Thursday, August 28th. Separately, analysts at Macquarie reiterated an “outperform” rating on shares of CenturyLink in a research note on Tuesday, August 12th. They now have a $43.00 price target on the stock, up previously from $42.00. Finally, analysts at DA Davidson raised their price target on shares of CenturyLink from $30.00 to $38.00 in a research note on Thursday, August 7th. They now have an “underperform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. CenturyLink currently has a consensus rating of “Hold” and a consensus target price of $37.39.
CenturyLink, Inc (NYSE:CTL) is an integrated communications company.
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