Short Interest in CenturyLink, Inc. (CTL) Grows By 5.0%
CenturyLink, Inc. (NYSE:CTL) saw a large growth in short interest in October. As of October 13th, there was short interest totalling 121,919,354 shares, a growth of 5.0% from the September 29th total of 116,098,127 shares. Based on an average daily volume of 11,670,044 shares, the short-interest ratio is currently 10.4 days. Approximately 22.4% of the shares of the stock are sold short.
CenturyLink (CTL) opened at 17.48 on Friday. CenturyLink has a 12-month low of $17.40 and a 12-month high of $30.39. The firm has a 50-day moving average of $19.14 and a 200-day moving average of $22.51. The stock has a market capitalization of $9.61 billion, a price-to-earnings ratio of 25.33 and a beta of 0.89.
CenturyLink (NYSE:CTL) last released its 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). The firm had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.09 billion. CenturyLink had a return on equity of 8.43% and a net margin of 2.20%. CenturyLink’s revenue was down 7.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.63 earnings per share. Equities research analysts forecast that CenturyLink will post $1.93 earnings per share for the current fiscal year.
Several equities research analysts have commented on the stock. Cowen and Company restated a “hold” rating and set a $24.00 target price on shares of CenturyLink in a research report on Thursday, October 19th. ValuEngine upgraded shares of CenturyLink from a “hold” rating to a “buy” rating in a research report on Tuesday, October 17th. Zacks Investment Research upgraded shares of CenturyLink from a “sell” rating to a “hold” rating in a research report on Friday, October 13th. Deutsche Bank AG decreased their target price on shares of CenturyLink from $23.00 to $20.00 and set a “hold” rating on the stock in a research report on Tuesday, October 10th. Finally, Barclays PLC decreased their target price on shares of CenturyLink from $23.00 to $19.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 4th. Four analysts have rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. CenturyLink has an average rating of “Hold” and a consensus price target of $24.94.
Several large investors have recently added to or reduced their stakes in the stock. Eaton Vance Management boosted its position in shares of CenturyLink by 0.5% in the 2nd quarter. Eaton Vance Management now owns 12,640 shares of the technology company’s stock valued at $302,000 after purchasing an additional 57 shares during the period. Wellington Shields & Co. LLC boosted its position in shares of CenturyLink by 1.1% in the 2nd quarter. Wellington Shields & Co. LLC now owns 9,202 shares of the technology company’s stock valued at $220,000 after purchasing an additional 99 shares during the period. FTB Advisors Inc. boosted its position in shares of CenturyLink by 0.9% in the 2nd quarter. FTB Advisors Inc. now owns 12,348 shares of the technology company’s stock valued at $268,000 after purchasing an additional 116 shares during the period. First Manhattan Co. boosted its position in shares of CenturyLink by 0.3% in the 2nd quarter. First Manhattan Co. now owns 37,199 shares of the technology company’s stock valued at $888,000 after purchasing an additional 126 shares during the period. Finally, Sentry Investment Management LLC boosted its position in shares of CenturyLink by 0.5% in the 2nd quarter. Sentry Investment Management LLC now owns 37,917 shares of the technology company’s stock valued at $905,000 after purchasing an additional 174 shares during the period. Institutional investors and hedge funds own 83.28% 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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