CenturyLink, Inc. (CTL) Raised to “Hold” at Zacks Investment Research
CenturyLink, Inc. (NYSE:CTL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.
According to Zacks, “CenturyLink -Level 3 Communications proposed merger recently received approval from the U.S. Department of Justice, subject to certain outlined conditions. The pending deal still awaits nod from the FCC and the California Public Utilities Commission. The deal, expected to close in the third quarter of 2017, has received approvals from almost 24 states and territories. CenturyLink remains focused on establishing itself as a global leader in cloud infrastructure and hosted IT solutions arena for enterprise customers. The company unveiled a beta version of its OTT TV services. CenturyLink invests in fiber-to-the-tower expansion and has expanded its fiber-based backhaul services. Over the past three months, share price of CenturyLink declined 11.5% as against the industry's gain of 5.2%. Loss in access lines, reducing legacy voice services revenues, tough competition, federal regulations and the need to upgrade technology remain headwinds.”
A number of other equities research analysts have also issued reports on CTL. UBS AG set a $29.00 target price on CenturyLink and gave the stock a “buy” rating in a research report on Thursday, June 22nd. BidaskClub lowered CenturyLink from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Barclays PLC cut their target price on CenturyLink from $23.00 to $19.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 4th. Deutsche Bank AG cut their target price on CenturyLink from $23.00 to $20.00 and set a “hold” rating on the stock in a research report on Tuesday. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $22.00 target price on shares of CenturyLink in a research report on Tuesday, October 3rd. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. CenturyLink has an average rating of “Hold” and a consensus target price of $25.15.
CenturyLink (CTL) traded down 0.025% during mid-day trading on Friday, reaching $20.345. The company’s stock had a trading volume of 5,099,207 shares. CenturyLink has a 1-year low of $18.17 and a 1-year high of $33.45. The company has a market capitalization of $11.18 billion, a PE ratio of 29.486 and a beta of 0.89. The firm has a 50 day moving average price of $19.45 and a 200-day moving average price of $22.89.
CenturyLink (NYSE:CTL) last posted its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.46 EPS for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.03). The firm had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.09 billion. CenturyLink had a return on equity of 8.43% and a net margin of 2.20%. The firm’s quarterly revenue was down 7.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.63 EPS. On average, equities analysts predict that CenturyLink will post $1.94 EPS for the current fiscal year.
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Several hedge funds have recently modified their holdings of the company. Frontier Investment Mgmt Co. grew its holdings in shares of CenturyLink by 9.1% during the second quarter. Frontier Investment Mgmt Co. now owns 152,277 shares of the technology company’s stock valued at $3,636,000 after buying an additional 12,744 shares in the last quarter. W. E. Donoghue & Co. LLC purchased a new position in shares of CenturyLink during the second quarter valued at $14,884,000. Intl Fcstone Inc. purchased a new position in shares of CenturyLink during the second quarter valued at $404,000. Lord Abbett & CO. LLC grew its holdings in shares of CenturyLink by 26.4% during the second quarter. Lord Abbett & CO. LLC now owns 206,400 shares of the technology company’s stock valued at $4,929,000 after buying an additional 43,100 shares in the last quarter. Finally, Sentry Investment Management LLC grew its holdings in shares of CenturyLink by 0.5% during the second quarter. Sentry Investment Management LLC now owns 37,917 shares of the technology company’s stock valued at $905,000 after buying an additional 174 shares in the last quarter. Institutional investors and hedge funds own 83.04% of the company’s stock.
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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