CenturyLink, Inc. (CTL) Plans Quarterly Dividend of $0.54
CenturyLink, Inc. (NYSE:CTL) declared a quarterly dividend on Tuesday, August 22nd, RTT News reports. Investors of record on Tuesday, September 5th will be paid a dividend of 0.54 per share by the technology company on Friday, September 15th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 10.85%.
CenturyLink has a payout ratio of 107.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect CenturyLink to earn $1.91 per share next year, which means the company may not be able to cover its $2.16 annual dividend with an expected future payout ratio of 113.1%.
CenturyLink (CTL) traded up 3.65% during midday trading on Tuesday, reaching $19.90. 11,620,146 shares of the company were exchanged. The stock has a market capitalization of $10.94 billion, a P/E ratio of 28.84 and a beta of 0.87. The firm’s 50 day moving average price is $22.45 and its 200-day moving average price is $24.06. CenturyLink has a 52 week low of $18.41 and a 52 week high of $33.45.
CenturyLink (NYSE:CTL) last released its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by $0.03. CenturyLink had a net margin of 2.20% and a return on equity of 8.43%. The company had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.09 billion. During the same period in the prior year, the business posted $0.63 EPS. CenturyLink’s revenue was down 7.0% compared to the same quarter last year. Equities analysts forecast that CenturyLink will post $1.95 EPS for the current fiscal year.
A number of equities research analysts recently issued reports on the stock. Zacks Investment Research raised shares of CenturyLink from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock 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. Cowen and Company set a $25.00 price target on shares of CenturyLink and gave the company a “market perform” rating in a research note on Thursday, May 4th. Jefferies Group LLC lowered their target price on shares of CenturyLink from $26.00 to $23.00 and set a “hold” rating on the stock in a research note on Thursday, May 4th. Finally, Vetr raised shares of CenturyLink from a “hold” rating to a “buy” rating and set a $27.12 target price on the stock in a research note on Monday, May 1st. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $26.22.
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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