Jefferies Group Comments on CenturyLink Inc.’s Q3 2016 Earnings (CTL)
CenturyLink Inc. (NYSE:CTL) – Analysts at Jefferies Group dropped their Q3 2016 earnings per share estimates for CenturyLink in a research note issued to investors on Tuesday. Jefferies Group analyst M. Mccormack now anticipates that the brokerage will post earnings of $0.55 per share for the quarter, down from their previous estimate of $0.57. Jefferies Group has a “Sell” rating on the stock.
CTL has been the subject of a number of other reports. Evercore ISI assumed coverage on shares of CenturyLink in a research report on Tuesday, June 21st. They issued a “hold” rating and a $28.00 price objective for the company. 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 Tuesday, August 16th. Royal Bank Of Canada upped 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. Zacks Investment Research cut shares of CenturyLink from a “buy” rating to a “hold” rating in a research report on Friday, August 5th. Finally, Morgan Stanley cut shares of CenturyLink from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $31.00 to $27.00 in a research report on Monday, July 18th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. CenturyLink has an average rating of “Hold” and a consensus target price of $28.37.
CenturyLink (NYSE:CTL) traded up 0.40% during trading on Wednesday, hitting $27.75. The company had a trading volume of 1,035,216 shares. The company’s 50 day moving average price is $27.75 and its 200-day moving average price is $29.14. CenturyLink has a 12 month low of $21.94 and a 12 month high of $32.94. The company has a market cap of $15.15 billion, a PE ratio of 15.54 and a beta of 0.80.
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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 (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.04. CenturyLink had a return on equity of 11.02% and a net margin of 5.47%. The firm had revenue of $440 billion for the quarter, compared to analyst estimates of $4.39 billion. During the same quarter last year, the company posted $0.55 earnings per share. The business’s revenue was down .5% on a year-over-year basis.
The company also recently announced a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, September 2nd were given 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 (DPR) is 120.67%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Acrospire Investment Management LLC purchased a new position in CenturyLink during the first quarter valued at approximately $109,000. Bessemer Group Inc. boosted its position in CenturyLink by 44.5% in the first quarter. Bessemer Group Inc. now owns 3,450 shares of the company’s stock valued at $110,000 after buying an additional 1,062 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co boosted its position in CenturyLink by 14.7% in the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 3,892 shares of the company’s stock valued at $113,000 after buying an additional 500 shares during the period. Washington Trust Bank boosted its position in CenturyLink by 13.8% in the second quarter. Washington Trust Bank now owns 4,597 shares of the company’s stock valued at $133,000 after buying an additional 558 shares during the period. Finally, Bellwether Investment Group LLC purchased a new position in CenturyLink during the second quarter valued at approximately $134,000. 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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