CenturyLink Inc. (CTL) Bond Prices Rise 2.8%
An issue of CenturyLink Inc. (NYSE:CTL) bonds rose 2.8% as a percentage of their face value during trading on Friday. The high-yield debt issue has a 7.65% coupon and is set to mature on March 15, 2042. The debt is now trading at $89.25 and was trading at $87.06 one week ago. Price changes in a company’s bonds in credit markets sometimes predict parallel changes in its stock price.
Several analysts recently issued reports on CTL shares. Zacks Investment Research downgraded CenturyLink from a “hold” rating to a “sell” rating in a research note on Tuesday. Vetr upgraded CenturyLink from a “hold” rating to a “buy” rating and set a $29.33 price target for the company in a report on Wednesday, August 31st. Macquarie initiated coverage on CenturyLink in a report on Monday, July 11th. They set a “neutral” rating and a $31.00 price target for the company. Jefferies Group restated a “sell” rating on shares of CenturyLink in a report on Friday, September 2nd. Finally, Evercore ISI initiated coverage on CenturyLink in a report on Tuesday, June 21st. They set a “hold” rating and a $28.00 price target for the company. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $28.37.
Shares of CenturyLink Inc. (NYSE:CTL) opened at 27.76 on Friday. The company’s 50 day moving average price is $27.81 and its 200-day moving average price is $29.21. The company has a market capitalization of $15.16 billion, a price-to-earnings ratio of 15.54 and a beta of 0.80. CenturyLink Inc. has a 52 week low of $21.94 and a 52 week high of $32.94.
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CenturyLink (NYSE:CTL) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. The company earned $440 billion during the quarter, compared to analysts’ expectations of $4.39 billion. CenturyLink had a return on equity of 11.02% and a net margin of 5.47%. CenturyLink’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.55 EPS. Analysts anticipate that CenturyLink Inc. will post $2.53 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, September 2nd were issued a dividend of $0.54 per share. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $2.16 dividend on an annualized basis and a dividend yield of 7.78%. CenturyLink’s payout ratio is currently 120.67%.
In other CenturyLink news, Director Harvey P. Perry sold 20,000 shares of the stock in a transaction that occurred on Wednesday, July 13th. The stock was sold at an average price of $31.00, for a total transaction of $620,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.61% of the company’s stock.
Several institutional investors have recently made changes to their positions in CTL. OMERS ADMINISTRATION Corp purchased a new position in shares of CenturyLink during the first quarter worth approximately $5,363,000. Canada Pension Plan Investment Board boosted its position in shares of CenturyLink by 85.2% in the first quarter. Canada Pension Plan Investment Board now owns 71,950 shares of the company’s stock worth $2,300,000 after buying an additional 33,094 shares during the last quarter. Carnick & Kubik LLC boosted its position in shares of CenturyLink by 4.1% in the first quarter. Carnick & Kubik LLC now owns 40,700 shares of the company’s stock worth $1,301,000 after buying an additional 1,595 shares during the last quarter. Aviva PLC boosted its position in shares of CenturyLink by 0.6% in the first quarter. Aviva PLC now owns 276,757 shares of the company’s stock worth $8,845,000 after buying an additional 1,587 shares during the last quarter. Finally, Monetary Management Group Inc. boosted its position in shares of CenturyLink by 4.0% in the first quarter. Monetary Management Group Inc. now owns 6,500 shares of the company’s stock worth $208,000 after buying an additional 250 shares during the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.
CenturyLink Company Profile
CenturyLink, Inc is an integrated communications company. The Company is engaged in providing an array of communications services to residential and business customers. The Company’s segments include Business and Consumer. Its communications services include local and long-distance voice, high-speed Internet, Multi-Protocol Label Switching (MPLS), private line (including special access), data integration, Ethernet, colocation, managed hosting (including cloud hosting), network, public access, video, wireless and other ancillary services.
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