CenturyLink, Inc. (CTL) Given Hold Rating at Cowen and Company
CenturyLink, Inc. (NYSE:CTL)‘s stock had its “hold” rating reissued by research analysts at Cowen and Company in a research note issued on Thursday. They currently have a $24.00 price target on the technology company’s stock. Cowen and Company’s price objective would suggest a potential upside of 29.80% from the company’s previous close.
Several other brokerages have also commented on CTL. ValuEngine upgraded shares of CenturyLink from a “hold” rating to a “buy” rating in a report on Friday, August 18th. Zacks Investment Research upgraded shares of CenturyLink from a “sell” rating to a “hold” rating in a report on Friday, October 13th. UBS AG set a $29.00 price objective on shares of CenturyLink and gave the stock a “buy” rating in a report on Thursday, June 22nd. Barclays PLC decreased their price objective on shares of CenturyLink from $23.00 to $19.00 and set an “underweight” rating for the company in a report on Wednesday, October 4th. Finally, Morgan Stanley decreased their price objective on shares of CenturyLink from $27.00 to $26.00 and set an “overweight” rating for the company in a report on Wednesday, August 23rd. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. CenturyLink currently has an average rating of “Hold” and an average price target of $24.94.
CenturyLink (NYSE CTL) traded down 0.86% during midday trading on Thursday, reaching $18.49. 14,898,194 shares of the company’s stock traded hands. CenturyLink has a 52-week low of $18.17 and a 52-week high of $33.45. The company’s 50-day moving average price is $19.34 and its 200-day moving average price is $22.79. The stock has a market cap of $10.16 billion, a P/E ratio of 26.80 and a beta of 0.89.
CenturyLink (NYSE:CTL) last issued its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.46 EPS for the quarter, missing the Thomson Reuters’ 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 company had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.09 billion. During the same quarter last year, the company posted $0.63 earnings per share. The firm’s revenue for the quarter was down 7.0% compared to the same quarter last year. On average, equities analysts predict that CenturyLink will post $1.93 EPS for the current fiscal year.
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Several institutional investors and hedge funds have recently bought and sold shares of CTL. Endurance Wealth Management Inc. boosted its holdings in shares of CenturyLink by 18.5% in the second quarter. Endurance Wealth Management Inc. now owns 4,650 shares of the technology company’s stock worth $111,000 after buying an additional 725 shares during the last quarter. FNY Managed Accounts LLC purchased a new position in shares of CenturyLink in the first quarter worth approximately $120,000. Exane Derivatives boosted its holdings in shares of CenturyLink by 27.6% in the second quarter. Exane Derivatives now owns 6,645 shares of the technology company’s stock worth $159,000 after buying an additional 1,436 shares during the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of CenturyLink in the second quarter worth approximately $197,000. Finally, WealthPLAN Partners LLC boosted its holdings in shares of CenturyLink by 5,660.0% in the second quarter. WealthPLAN Partners LLC now owns 8,640 shares of the technology company’s stock worth $206,000 after buying an additional 8,490 shares during the last quarter. 82.95% of the stock is currently 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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