CenturyLink, Inc. (CTL) Raised to Buy at ValuEngine
CenturyLink, Inc. (NYSE:CTL) was upgraded by research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Tuesday.
Several other equities analysts have also recently issued reports on the company. Barclays PLC decreased their price objective on CenturyLink from $24.00 to $23.00 and set an “underweight” rating for the company in a report on Thursday, June 29th. Cowen and Company boosted their price objective on CenturyLink from $25.00 to $27.00 and gave the company a “market perform” rating in a report on Wednesday, July 5th. Zacks Investment Research raised CenturyLink from a “sell” rating to a “hold” rating in a report on Friday. BidaskClub cut CenturyLink from a “buy” rating to a “hold” rating in a report on Tuesday, June 20th. Finally, Morgan Stanley decreased their price objective on CenturyLink from $27.00 to $26.00 and set an “overweight” rating for the company in a report on Wednesday, August 23rd. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $25.15.
CenturyLink (CTL) traded down 3.74% on Tuesday, reaching $19.02. The company’s stock had a trading volume of 18,804,110 shares. CenturyLink has a 1-year low of $18.17 and a 1-year high of $33.45. The firm’s 50 day moving average price is $19.43 and its 200-day moving average price is $22.88. The company has a market capitalization of $10.45 billion, a price-to-earnings ratio of 27.57 and a beta of 0.89.
CenturyLink (NYSE:CTL) last issued its quarterly earnings results 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). CenturyLink had a return on equity of 8.43% and a net margin of 2.20%. The firm had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.09 billion. During the same period in the prior year, the firm posted $0.63 EPS. The business’s revenue was down 7.0% compared to the same quarter last year. Equities analysts forecast that CenturyLink will post $1.93 earnings per share for the current year.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Eaton Vance Management increased its stake in CenturyLink by 0.5% during the 2nd quarter. Eaton Vance Management now owns 12,640 shares of the technology company’s stock worth $302,000 after buying an additional 57 shares in the last quarter. Cleararc Capital Inc. increased its stake in CenturyLink by 0.7% during the 1st quarter. Cleararc Capital Inc. now owns 13,386 shares of the technology company’s stock worth $316,000 after buying an additional 93 shares in the last quarter. Wellington Shields & Co. LLC increased its stake in CenturyLink by 1.1% during the 2nd quarter. Wellington Shields & Co. LLC now owns 9,202 shares of the technology company’s stock worth $220,000 after buying an additional 99 shares in the last quarter. FTB Advisors Inc. increased its stake in CenturyLink by 0.9% during the 2nd quarter. FTB Advisors Inc. now owns 12,348 shares of the technology company’s stock worth $268,000 after buying an additional 116 shares in the last quarter. Finally, First Manhattan Co. increased its stake in CenturyLink by 0.3% during the 2nd quarter. First Manhattan Co. now owns 37,199 shares of the technology company’s stock worth $888,000 after buying an additional 126 shares in the last quarter. 82.95% of the stock is owned by institutional investors.
CenturyLink Company Profile
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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