CenturyLink, Inc. (CTL) Expected to Announce Quarterly Sales of $4.09 Billion
Analysts predict that CenturyLink, Inc. (NYSE:CTL) will announce sales of $4.09 billion for the current quarter, according to Zacks. Seven analysts have made estimates for CenturyLink’s earnings, with the highest sales estimate coming in at $4.11 billion and the lowest estimate coming in at $4.07 billion. CenturyLink reported sales of $4.40 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 7%. The firm is scheduled to report its next quarterly earnings report after the market closes on Wednesday, August 2nd.
According to Zacks, analysts expect that CenturyLink will report full year sales of $4.09 billion for the current year, with estimates ranging from $16.42 billion to $16.63 billion. For the next year, analysts forecast that the business will report sales of $16.21 billion per share, with estimates ranging from $15.98 billion to $16.71 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for CenturyLink.
CenturyLink (NYSE:CTL) last posted its quarterly earnings results on Wednesday, May 3rd. The technology company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by $0.01. The firm had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.27 billion. CenturyLink had a net margin of 3.20% and a return on equity of 8.96%. CenturyLink’s revenue was down 4.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.71 EPS.
A number of equities research analysts have commented on CTL shares. UBS AG set a $29.00 price target on CenturyLink and gave the company a “buy” rating in a research report on Thursday, June 22nd. BidaskClub lowered CenturyLink from a “buy” rating to a “hold” rating in a research report on Tuesday, June 20th. Morgan Stanley reiterated an “overweight” rating and issued a $27.00 price target on shares of CenturyLink in a research report on Wednesday, March 29th. Cowen and Company upped their price target on CenturyLink from $25.00 to $27.00 and gave the company a “market perform” rating in a research report on Wednesday, July 5th. Finally, Vetr upgraded CenturyLink from a “buy” rating to a “strong-buy” rating and set a $27.12 price target on the stock in a research report on Monday, May 8th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $26.22.
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Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of CenturyLink by 19.4% in the first quarter. Vanguard Group Inc. now owns 46,767,917 shares of the technology company’s stock valued at $1,102,321,000 after buying an additional 7,600,609 shares during the last quarter. State Street Corp raised its position in shares of CenturyLink by 1.0% in the first quarter. State Street Corp now owns 31,157,907 shares of the technology company’s stock valued at $734,384,000 after buying an additional 293,702 shares during the last quarter. American International Group Inc. raised its position in shares of CenturyLink by 1.4% in the first quarter. American International Group Inc. now owns 15,944,716 shares of the technology company’s stock valued at $375,817,000 after buying an additional 214,210 shares during the last quarter. Geode Capital Management LLC raised its position in shares of CenturyLink by 10.0% in the first quarter. Geode Capital Management LLC now owns 6,721,808 shares of the technology company’s stock valued at $158,256,000 after buying an additional 613,038 shares during the last quarter. Finally, Thornburg Investment Management Inc. raised its position in shares of CenturyLink by 107.8% in the first quarter. Thornburg Investment Management Inc. now owns 6,521,497 shares of the technology company’s stock valued at $153,712,000 after buying an additional 3,383,155 shares during the last quarter. Institutional investors own 77.52% of the company’s stock.
CenturyLink (NYSE CTL) traded down 0.48% during trading on Wednesday, reaching $22.85. The company had a trading volume of 3,281,581 shares. CenturyLink has a 12-month low of $22.26 and a 12-month high of $33.45. The firm’s 50 day moving average price is $24.46 and its 200 day moving average price is $24.57. The firm has a market capitalization of $12.54 billion, a PE ratio of 22.40 and a beta of 0.88.
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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