Centurylink Inc (CTL) Sees Large Growth in Short Interest
Centurylink Inc (NYSE:CTL) saw a large growth in short interest during the month of May. As of May 15th, there was short interest totalling 108,494,230 shares, a growth of 6.5% from the April 28th total of 101,859,503 shares. Based on an average trading volume of 12,617,943 shares, the short-interest ratio is presently 8.6 days. Currently, 20.0% of the shares of the stock are short sold.
A number of hedge funds have recently bought and sold shares of the company. FNY Managed Accounts LLC acquired a new stake in Centurylink during the first quarter valued at $120,000. Exane Derivatives increased its position in shares of Centurylink by 29.7% in the first quarter. Exane Derivatives now owns 5,209 shares of the technology company’s stock valued at $123,000 after buying an additional 1,194 shares during the period. Independent Advisor Alliance purchased a new position in shares of Centurylink during the fourth quarter valued at approximately $142,000. Focused Wealth Management Inc increased its position in shares of Centurylink by 6.8% in the fourth quarter. Focused Wealth Management Inc now owns 6,308 shares of the technology company’s stock valued at $150,000 after buying an additional 400 shares during the period. Finally, Ledyard National Bank increased its position in shares of Centurylink by 7,467.0% in the first quarter. Ledyard National Bank now owns 7,340 shares of the technology company’s stock valued at $173,000 after buying an additional 7,243 shares during the period. 73.98% of the stock is owned by institutional investors and hedge funds.
Shares of Centurylink (NYSE:CTL) opened at 24.80 on Monday. The firm’s 50-day moving average price is $25.02 and its 200-day moving average price is $24.49. Centurylink has a one year low of $22.33 and a one year high of $33.45. The firm has a market capitalization of $13.61 billion, a P/E ratio of 24.31 and a beta of 0.83.
Centurylink (NYSE:CTL) last posted its quarterly earnings results on Wednesday, May 3rd. The technology company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.53 by $0.01. The business had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.27 billion. Centurylink had a return on equity of 9.58% and a net margin of 3.58%. The business’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.71 earnings per share. On average, equities analysts forecast that Centurylink will post $2.11 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 16th. Shareholders of record on Monday, June 5th will be paid a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 8.71%. The ex-dividend date is Thursday, June 1st. Centurylink’s dividend payout ratio is presently 186.21%.
A number of research analysts have recently commented on the company. Royal Bank of Canada reiterated a “hold” rating and issued a $25.00 price target on shares of Centurylink in a research note on Thursday. Raymond James Financial, Inc. restated an “underperform” rating on shares of Centurylink in a report on Monday, May 15th. Bank of America Corp restated a “buy” rating on shares of Centurylink in a report on Tuesday, May 9th. Vetr upgraded Centurylink from a “buy” rating to a “strong-buy” rating and set a $27.12 price objective for the company in a report on Monday, May 8th. Finally, Zacks Investment Research downgraded Centurylink from a “buy” rating to a “hold” rating in a report on Friday, May 5th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Centurylink presently has an average rating of “Hold” and an average target price of $26.24.
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Centurylink Company Profile
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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