CenturyLink’s (CTL) Hold CTL Rating Reaffirmed at Cowen and Company
CenturyLink, Inc. (NYSE:CTL)‘s stock had its “hold ctl” rating reiterated by Cowen and Company in a research report issued on Thursday.
CTL has been the topic of a number of other reports. Barclays PLC decreased their target price on CenturyLink from $24.00 to $23.00 and set an “underweight” rating on the stock in a research report on Thursday, June 29th. BidaskClub cut CenturyLink from a “buy” rating to a “hold” rating in a report on Tuesday, June 20th. ValuEngine cut CenturyLink from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Royal Bank Of Canada reissued a “hold” rating and issued a $25.00 price target on shares of CenturyLink in a report on Thursday, May 25th. Finally, Raymond James Financial, Inc. reissued an “underperform” rating on shares of CenturyLink in a report on Monday, May 15th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. CenturyLink presently has a consensus rating of “Hold” and an average target price of $26.01.
Shares of CenturyLink (CTL) traded down 1.151% on Thursday, hitting $23.625. The stock had a trading volume of 2,123,690 shares. The stock has a market cap of $12.97 billion, a P/E ratio of 23.162 and a beta of 0.88. The firm has a 50 day moving average of $25.26 and a 200 day moving average of $24.70. CenturyLink has a 12 month low of $22.33 and a 12 month high of $33.45. CenturyLink also was the recipient of some unusual options trading on Tuesday. Traders acquired 5,062 call options on the company. This represents an increase of 142% compared to the average volume of 2,088 call options.
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 Zacks’ 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 business had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.27 billion. During the same quarter last year, the firm earned $0.71 earnings per share. The firm’s quarterly revenue was down 4.4% compared to the same quarter last year. On average, equities analysts forecast that CenturyLink will post $2.11 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 16th. Shareholders of record on Monday, June 5th were issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 9.04%. The ex-dividend date was Thursday, June 1st. CenturyLink’s dividend payout ratio is presently 211.77%.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FNY Managed Accounts LLC purchased a new position in CenturyLink during the first quarter worth approximately $120,000. Exane Derivatives increased 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 in the last quarter. Ledyard National Bank increased 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 in the last quarter. State of Alaska Department of Revenue purchased a new position in CenturyLink during the first quarter worth approximately $200,000. Finally, Loudon Investment Management LLC purchased a new position in CenturyLink during the first quarter worth approximately $208,000. 77.45% of the stock is currently owned by institutional investors.
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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