Centurylink Inc (CTL) Receives “Hold” Rating from Royal Bank of Canada
Centurylink Inc (NYSE:CTL)‘s stock had its “hold” rating restated by Royal Bank of Canada in a research note issued on Thursday. They presently have a $25.00 price objective on the technology company’s stock. Royal Bank of Canada’s target price points to a potential upside of 0.16% from the company’s previous close.
Several other equities research analysts have also recently commented on the company. Raymond James Financial, Inc. reaffirmed an “underperform” rating on shares of Centurylink in a research note on Monday, May 15th. Bank of America Corp reaffirmed a “buy” rating on shares of Centurylink in a research note on Tuesday, May 9th. Vetr raised Centurylink from a “buy” rating to a “strong-buy” rating and set a $27.12 target price for the company in a research note on Monday, May 8th. Zacks Investment Research cut Centurylink from a “buy” rating to a “hold” rating in a research note on Friday, May 5th. Finally, Jefferies Group LLC decreased their target price on Centurylink from $26.00 to $23.00 and set a “hold” rating for the company in a research note on Thursday, May 4th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $26.24.
Centurylink (NYSE:CTL) traded down 0.12% during trading on Thursday, hitting $24.93. The stock had a trading volume of 5,900,216 shares. Centurylink has a one year low of $22.33 and a one year high of $33.45. The firm has a market capitalization of $13.68 billion, a P/E ratio of 24.44 and a beta of 0.83. The stock has a 50 day moving average of $25.01 and a 200 day moving average of $24.49.
Centurylink (NYSE:CTL) last released its earnings results on Wednesday, May 3rd. The technology company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.53 by $0.01. Centurylink had a return on equity of 9.58% and a net margin of 3.58%. The business had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.27 billion. During the same period in the prior year, the business earned $0.71 EPS. The company’s revenue for the quarter was down 4.4% on a year-over-year basis. Equities research analysts expect that Centurylink will post $2.11 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 16th. Stockholders of record on Monday, June 5th will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 8.65%. Centurylink’s dividend payout ratio is presently 186.21%.
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Several hedge funds and other institutional investors have recently bought and sold shares of CTL. Menta Capital LLC raised its position in Centurylink by 4.3% in the fourth quarter. Menta Capital LLC now owns 103,831 shares of the technology company’s stock worth $2,469,000 after buying an additional 4,298 shares in the last quarter. First Manhattan Co. raised its position in Centurylink by 1.8% in the first quarter. First Manhattan Co. now owns 37,218 shares of the technology company’s stock worth $1,020,000 after buying an additional 645 shares in the last quarter. Vident Investment Advisory LLC raised its position in Centurylink by 1.8% in the fourth quarter. Vident Investment Advisory LLC now owns 79,687 shares of the technology company’s stock worth $1,895,000 after buying an additional 1,409 shares in the last quarter. Integre Asset Management LLC bought a new position in Centurylink during the fourth quarter worth $6,339,000. Finally, Macquarie Group Ltd. raised its position in Centurylink by 69.8% in the fourth quarter. Macquarie Group Ltd. now owns 44,100 shares of the technology company’s stock worth $1,049,000 after buying an additional 18,124 shares in the last quarter. Institutional investors own 73.98% of the company’s stock.
CenturyLink, Inc is an integrated communications company. The Company is engaged in providing an array of communications services to its residential and business customers. Its segments include business, which provides strategic, legacy and data integration products and services to small, medium and enterprise business, wholesale and governmental customers, including other communication providers, and consumer, which provides strategic and legacy products and services to residential customers.
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