CenturyLink Inc. (CTL) Debt Trading 1.4% Lower
An issue of CenturyLink Inc. (NYSE:CTL) bonds fell 1.4% as a percentage of their face value during trading on Monday. The high-yield issue of debt has a 6.75% coupon and is set to mature on December 1, 2023. The debt is now trading at $103.47 and was trading at $103.25 last week. Price moves in a company’s bonds in credit markets often predict parallel moves in its stock price.
CTL has been the subject of several recent analyst reports. Vetr raised CenturyLink from a “hold” rating to a “buy” rating and set a $29.33 target price for the company in a research note on Wednesday, August 31st. Evercore ISI initiated coverage on CenturyLink in a research note on Tuesday, June 21st. They set a “hold” rating and a $28.00 target price for the company. Zacks Investment Research cut CenturyLink from a “buy” rating to a “hold” rating in a research note on Friday, August 5th. Macquarie reissued a “neutral” rating and set a $30.00 target price (down previously from $31.00) on shares of CenturyLink in a research note on Tuesday, September 13th. Finally, RBC Capital Markets reissued a “sector perform” rating and set a $31.00 target price (up previously from $29.00) on shares of CenturyLink in a research note on Wednesday, August 10th. Two investment 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. The company currently has a consensus rating of “Hold” and an average target price of $28.44.
CenturyLink Inc. (NYSE:CTL) opened at 27.37 on Tuesday. CenturyLink Inc. has a 12-month low of $21.94 and a 12-month high of $32.94. The stock has a market capitalization of $14.94 billion, a price-to-earnings ratio of 15.32 and a beta of 0.80. The company has a 50-day moving average price of $27.56 and a 200-day moving average price of $29.02.
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CenturyLink (NYSE:CTL) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.04. The company earned $440 billion during the quarter, compared to the consensus estimate of $4.39 billion. CenturyLink had a return on equity of 11.02% and a net margin of 5.47%. CenturyLink’s revenue was down .5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.55 EPS. On average, equities research analysts forecast that CenturyLink Inc. will post $2.53 earnings per share for the current year.
Several hedge funds have recently added to or reduced their stakes in the company. Charter Trust Co. increased its stake in CenturyLink by 4.3% in the third quarter. Charter Trust Co. now owns 18,622 shares of the company’s stock worth $510,000 after buying an additional 769 shares during the last quarter. National Pension Service boosted its position in CenturyLink by 9.4% in the third quarter. National Pension Service now owns 413,203 shares of the company’s stock worth $11,334,000 after buying an additional 35,578 shares during the last quarter. Cornerstone Investment Partners LLC boosted its position in CenturyLink by 19.7% in the third quarter. Cornerstone Investment Partners LLC now owns 42,904 shares of the company’s stock worth $1,177,000 after buying an additional 7,055 shares during the last quarter. Private Bank & Trust Co. purchased a new position in CenturyLink during the third quarter worth $601,000. Finally, MSI Financial Services Inc boosted its position in CenturyLink by 2.2% in the third quarter. MSI Financial Services Inc now owns 28,870 shares of the company’s stock worth $792,000 after buying an additional 608 shares during the last quarter. Institutional investors and hedge funds own 73.31% 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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