CenturyLink Inc. (CTL) Bond Prices Rise 2.8%
An issue of CenturyLink Inc. (NYSE:CTL) bonds rose 2.8% against their face value during trading on Tuesday. The high-yield debt issue has a 7.65% coupon and is set to mature on March 15, 2042. The bonds in the issue are now trading at $89.25 and were trading at $87.06 last week. Price changes in a company’s bonds in credit markets sometimes predict parallel changes in its share price.
Several brokerages have weighed in on CTL. Zacks Investment Research cut shares of CenturyLink from a “hold” rating to a “sell” rating in a research note on Tuesday, October 4th. Macquarie reaffirmed a “neutral” rating and set a $30.00 price objective (down from $31.00) on shares of CenturyLink in a research note on Tuesday, September 13th. Jefferies Group reaffirmed a “sell” rating on shares of CenturyLink in a research note on Friday, September 2nd. Vetr raised shares of CenturyLink from a “hold” rating to a “buy” rating and set a $29.33 price objective on the stock in a research note on Wednesday, August 31st. Finally, RBC Capital Markets reaffirmed a “sector perform” rating and set a $31.00 price objective (up from $29.00) on shares of CenturyLink in a research note on Wednesday, August 10th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued 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 27.64 on Wednesday. The firm has a 50-day moving average of $27.75 and a 200 day moving average of $29.14. The firm has a market capitalization of $15.09 billion, a price-to-earnings ratio of 15.48 and a beta of 0.80. CenturyLink Inc. has a 12-month low of $21.94 and a 12-month high of $32.94.
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CenturyLink (NYSE:CTL) last released its earnings results on Wednesday, August 3rd. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.59 by $0.04. CenturyLink had a net margin of 5.47% and a return on equity of 11.02%. The firm had revenue of $440 billion for the quarter, compared to analyst estimates of $4.39 billion. During the same period last year, the firm earned $0.55 EPS. The business’s quarterly revenue was down .5% compared to the same quarter last year. On average, equities research analysts expect that CenturyLink Inc. will post $2.53 earnings per share for the current 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 $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 7.81%. The ex-dividend date of this dividend was Wednesday, August 31st. CenturyLink’s dividend payout ratio is currently 120.67%.
Institutional investors have recently added to or reduced their stakes in the stock. Carroll Financial Associates Inc. raised its position in CenturyLink by 4.0% in the third quarter. Carroll Financial Associates Inc. now owns 10,490 shares of the company’s stock valued at $287,000 after buying an additional 403 shares in the last quarter. Raymond James Trust N.A. raised its position in CenturyLink by 6.6% in the third quarter. Raymond James Trust N.A. now owns 34,426 shares of the company’s stock valued at $944,000 after buying an additional 2,120 shares in the last quarter. Advisory Services Network LLC raised its position in CenturyLink by 39.4% in the third quarter. Advisory Services Network LLC now owns 21,889 shares of the company’s stock valued at $600,000 after buying an additional 6,186 shares in the last quarter. Catawba Capital Management VA raised its position in CenturyLink by 7.4% in the third quarter. Catawba Capital Management VA now owns 18,317 shares of the company’s stock valued at $502,000 after buying an additional 1,255 shares in the last quarter. Finally, Oliver Luxxe Assets LLC raised its position in CenturyLink by 7.8% in the third quarter. Oliver Luxxe Assets LLC now owns 97,079 shares of the company’s stock valued at $2,663,000 after buying an additional 7,009 shares in the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.
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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