CenturyLink Assigned BB+ Credit Rating by Morningstar (CTL)
CenturyLink (NYSE:CTL) has received a “BB+” credit rating from Morningstar. The firm’s “BB+” rating indicates that the company is an above-average default risk. They also issued a positive credit outlook for the company and gave their stock a three star rating.
CTL has been the subject of a number of other recent research reports. Analysts at Goldman Sachs initiated coverage on shares of CenturyLink in a research note on Tuesday. They set a “neutral” rating on the stock. Separately, analysts at TheStreet upgraded shares of CenturyLink to a “buy” rating in a research note on Thursday, August 28th. Finally, 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. Two 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’s stock. The company presently has an average rating of “Hold” and a consensus target price of $37.39.
CenturyLink (NYSE:CTL) opened at 41.02 on Thursday. CenturyLink has a 1-year low of $27.93 and a 1-year high of $45.67. The stock’s 50-day moving average is $39.51 and its 200-day moving average is $35.86. The company’s market cap is $23.388 billion. CenturyLink also was the target of a significant decline in short interest in August. As of August 15th, there was short interest totalling 26,302,153 shares, a decline of 31.2% from the July 31st total of 38,211,292 shares. Approximately 4.6% of the company’s stock are sold short. Based on an average daily volume of 4,458,924 shares, the days-to-cover ratio is currently 5.9 days.
CenturyLink (NYSE:CTL) last announced its earnings results on Wednesday, August 6th. The company reported $0.72 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.69 earnings per share. The company’s quarterly revenue 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 announced a quarterly dividend, which is scheduled for Friday, September 12th. Investors of record on Friday, August 29th will be paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 5.27%. The ex-dividend date is Wednesday, August 27th.
CenturyLink, Inc (NYSE:CTL) is an integrated communications company.
To view more credit ratings from Morningstar, visit www.morningstar.com.
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