Gabelli Weighs in on CenturyLink, Inc.’s FY2018 Earnings (CTL)
CenturyLink, Inc. (NYSE:CTL) – Analysts at Gabelli raised their FY2018 EPS estimates for CenturyLink in a research note issued on Monday. Gabelli analyst S. Dluzhevskiy now expects that the technology company will post earnings per share of $2.25 for the year, up from their prior estimate of $2.15. Gabelli also issued estimates for CenturyLink’s FY2019 earnings at $2.30 EPS and FY2020 earnings at $2.30 EPS.
CTL has been the subject of a number of other research reports. Zacks Investment Research upgraded shares of CenturyLink from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a research note on Wednesday, April 26th. ValuEngine cut shares of CenturyLink from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Jefferies Group LLC cut their price target on shares of CenturyLink from $26.00 to $23.00 and set a “hold” rating for the company in a research note on Thursday, May 4th. Cowen and Company set a $25.00 price target on shares of CenturyLink and gave the stock a “market perform” rating in a research note on Thursday, May 4th. Finally, Vetr upgraded shares of CenturyLink from a “hold” rating to a “buy” rating and set a $27.12 price target for the company in a research note on Monday, May 1st. Two analysts have rated the stock with a sell rating, ten have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. CenturyLink currently has an average rating of “Hold” and an average target price of $26.24.
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Shares of CenturyLink (NYSE CTL) traded down 1.46% during mid-day trading on Wednesday, hitting $24.34. The stock had a trading volume of 6,474,123 shares. CenturyLink has a one year low of $22.33 and a one year high of $33.45. The stock has a market cap of $13.36 billion, a price-to-earnings ratio of 23.86 and a beta of 0.87. The firm has a 50 day moving average of $25.32 and a 200 day moving average of $24.69.
CenturyLink (NYSE:CTL) last announced its quarterly earnings data on Wednesday, May 3rd. The technology company reported $0.52 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by $0.01. CenturyLink had a net margin of 3.20% and a return on equity of 8.96%. The firm had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.27 billion. During the same quarter in the previous year, the company earned $0.71 EPS. The company’s quarterly revenue was down 4.4% compared to the same quarter last year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. FNY Managed Accounts LLC purchased a new position in CenturyLink during the first quarter worth about $120,000. Exane Derivatives boosted its position in CenturyLink by 29.7% in the first quarter. Exane Derivatives now owns 5,209 shares of the technology company’s stock worth $123,000 after buying an additional 1,194 shares during the period. Independent Advisor Alliance purchased a new position in CenturyLink during the fourth quarter worth about $142,000. Focused Wealth Management Inc boosted its position in CenturyLink by 6.8% in the fourth quarter. Focused Wealth Management Inc now owns 6,308 shares of the technology company’s stock worth $150,000 after buying an additional 400 shares during the period. Finally, Ledyard National Bank boosted its position in CenturyLink by 7,467.0% in the first quarter. Ledyard National Bank now owns 7,340 shares of the technology company’s stock worth $173,000 after buying an additional 7,243 shares during the period. Institutional investors own 77.45% of the company’s stock.
The company also recently announced a quarterly dividend, which was paid on Friday, June 16th. Stockholders of record on Monday, June 5th were paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 8.74%. The ex-dividend date was Thursday, June 1st. CenturyLink’s dividend payout ratio (DPR) is currently 211.77%.
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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