CenturyLink Inc. (CTL) Debt Trading 2.8% Higher
An issue of CenturyLink Inc. (NYSE:CTL) bonds rose 2.8% against their face value during trading on Monday. 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 moves in a company’s bonds in credit markets often anticipate parallel moves in its share price.
A number of brokerages have recently issued reports on CTL. Royal Bank Of Canada boosted their price objective on shares of CenturyLink from $29.00 to $31.00 and gave the company a “sector perform” rating in a research report on Monday, August 8th. Macquarie reissued a “neutral” rating and set a $30.00 price objective (down previously from $31.00) on shares of CenturyLink in a research report on Tuesday, September 13th. Vetr raised shares of CenturyLink from a “sell” rating to a “hold” rating and set a $29.00 price objective for the company in a research report on Monday, August 8th. Zacks Investment Research downgraded shares of CenturyLink from a “buy” rating to a “hold” rating in a research report on Friday, August 5th. Finally, Morgan Stanley downgraded shares of CenturyLink from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $31.00 to $27.00 in a research report on Monday, July 18th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $28.37.
Shares of CenturyLink Inc. (NYSE:CTL) opened at 27.84 on Tuesday. The stock has a market cap of $15.20 billion, a PE ratio of 15.59 and a beta of 0.80. The firm has a 50-day moving average of $27.78 and a 200 day moving average of $29.15. 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 data on Wednesday, August 3rd. The company reported $0.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.04. The firm had revenue of $440 billion for the quarter, compared to analyst estimates of $4.39 billion. CenturyLink had a net margin of 5.47% and a return on equity of 11.02%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.55 earnings per share. On average, equities analysts forecast that CenturyLink Inc. will post $2.53 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, September 2nd were paid a $0.54 dividend. 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 7.76%. CenturyLink’s payout ratio is currently 120.67%.
In other news, Director Harvey P. Perry sold 20,000 shares of the stock in a transaction on Wednesday, July 13th. The shares were sold at an average price of $31.00, for a total value of $620,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.61% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Advisory Services Network LLC raised its stake in CenturyLink by 39.4% in the third quarter. Advisory Services Network LLC now owns 21,889 shares of the company’s stock worth $600,000 after buying an additional 6,186 shares during the last quarter. Catawba Capital Management VA raised its stake in CenturyLink by 7.4% in the third quarter. Catawba Capital Management VA now owns 18,317 shares of the company’s stock worth $502,000 after buying an additional 1,255 shares during the last quarter. Oliver Luxxe Assets LLC raised its stake in CenturyLink by 7.8% in the third quarter. Oliver Luxxe Assets LLC now owns 97,079 shares of the company’s stock worth $2,663,000 after buying an additional 7,009 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in CenturyLink by 1.3% in the third quarter. BNP Paribas Arbitrage SA now owns 791,443 shares of the company’s stock worth $21,709,000 after buying an additional 9,877 shares during the last quarter. Finally, Washington Trust Bank raised its stake in CenturyLink by 1.6% in the third quarter. Washington Trust Bank now owns 4,672 shares of the company’s stock worth $128,000 after buying an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.
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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