Gulf International Bank UK Ltd raised its stake in shares of Centurylink Inc (NYSE:CTL) by 5.8% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 326,310 shares of the technology company’s stock after purchasing an additional 17,961 shares during the period. Gulf International Bank UK Ltd’s holdings in Centurylink were worth $6,917,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in CTL. Millennium Management LLC boosted its position in shares of Centurylink by 124.0% in the 1st quarter. Millennium Management LLC now owns 370,740 shares of the technology company’s stock worth $6,091,000 after buying an additional 205,226 shares in the last quarter. DnB Asset Management AS boosted its position in shares of Centurylink by 3.6% in the 2nd quarter. DnB Asset Management AS now owns 118,527 shares of the technology company’s stock worth $2,209,000 after buying an additional 4,100 shares in the last quarter. IFM Investors Pty Ltd boosted its position in shares of Centurylink by 45.7% in the 2nd quarter. IFM Investors Pty Ltd now owns 43,420 shares of the technology company’s stock worth $809,000 after buying an additional 13,624 shares in the last quarter. Capital Investment Advisors LLC purchased a new stake in shares of Centurylink in the 2nd quarter worth about $206,000. Finally, State of Alaska Department of Revenue boosted its position in shares of Centurylink by 3.0% in the 2nd quarter. State of Alaska Department of Revenue now owns 139,985 shares of the technology company’s stock worth $2,609,000 after buying an additional 4,114 shares in the last quarter. Institutional investors and hedge funds own 76.84% of the company’s stock.
Several equities research analysts recently commented on CTL shares. Zacks Investment Research lowered shares of Centurylink from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 24th. Bank of America set a $27.00 price objective on shares of Centurylink and gave the stock a “buy” rating in a research report on Wednesday, August 8th. Citigroup boosted their price objective on shares of Centurylink from $17.00 to $19.00 and gave the stock a “neutral” rating in a research report on Thursday, August 9th. Barclays reiterated a “hold” rating and issued a $21.00 price objective on shares of Centurylink in a research report on Friday, August 10th. Finally, Morgan Stanley boosted their price objective on shares of Centurylink from $21.60 to $25.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 15th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. Centurylink presently has an average rating of “Hold” and an average target price of $21.62.
NYSE:CTL opened at $18.91 on Friday. The stock has a market capitalization of $23.21 billion, a price-to-earnings ratio of 19.34, a PEG ratio of -13.36 and a beta of 0.76. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.98 and a current ratio of 0.98. Centurylink Inc has a 12-month low of $13.16 and a 12-month high of $24.20.
Centurylink (NYSE:CTL) last released its earnings results on Thursday, November 8th. The technology company reported $0.30 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.30. The company had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.88 billion. Centurylink had a net margin of 7.62% and a return on equity of 4.50%. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.42 EPS. Analysts forecast that Centurylink Inc will post 1.07 earnings per share for the current year.
In other Centurylink news, Director Glen F. Post III sold 150,000 shares of the company’s stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $24.00, for a total value of $3,600,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.60% of the stock is currently owned by corporate insiders.
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Centurylink Company Profile
CenturyLink, Inc provides various communications services to residential, business, wholesale, and governmental customers primarily in the United States. It operates in two segments, Business and Consumer. The company offers virtual private network data network services; Ethernet services; Internet protocol services; CenturyLink Prism TV that allows customers to watch television or cable channels and record up to four shows on one home digital video recorder; and Vyvx, which provides audio and video feeds over fiber or satellite for broadcast and production customers, as well as satellite digital television services.
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