CenturyLink, Inc. (NYSE:CTL) saw a large growth in short interest during the month of 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. Approximately 22.4% of the shares of the company are short sold. Based on an average daily trading volume, of 11,670,044 shares, the days-to-cover ratio is presently 10.4 days.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in CenturyLink by 22.6% in the 2nd quarter. Vanguard Group Inc. now owns 57,351,163 shares of the technology company’s stock worth $1,369,547,000 after buying an additional 10,583,246 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of CenturyLink by 3.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,689,431 shares of the technology company’s stock valued at $231,404,000 after purchasing an additional 301,671 shares in the last quarter. Northern Trust Corp lifted its stake in shares of CenturyLink by 1.4% in the 2nd quarter. Northern Trust Corp now owns 6,978,167 shares of the technology company’s stock valued at $166,639,000 after purchasing an additional 95,821 shares in the last quarter. Capital World Investors acquired a new position in shares of CenturyLink in the 2nd quarter valued at about $142,086,000. Finally, Epoch Investment Partners Inc. lifted its stake in shares of CenturyLink by 5.2% in the 2nd quarter. Epoch Investment Partners Inc. now owns 4,974,938 shares of the technology company’s stock valued at $118,801,000 after purchasing an additional 244,347 shares in the last quarter. 82.51% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts recently commented on the stock. ValuEngine raised shares of CenturyLink from a “hold” rating to a “buy” rating in a report on Friday, August 18th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $25.00 target price on shares of CenturyLink in a research note on Monday, September 18th. Bank of America Corporation lowered their price target on shares of CenturyLink from $42.00 to $27.00 and set a “buy” rating on the stock in a research report on Friday. J P Morgan Chase & Co reissued a “buy” rating and set a $26.00 price target on shares of CenturyLink in a research report on Thursday. Finally, Zacks Investment Research lowered shares of CenturyLink from a “hold” rating to a “strong sell” rating in a report on Friday, August 25th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $23.07.
CenturyLink (CTL) opened at $15.48 on Friday. CenturyLink has a 52-week low of $14.60 and a 52-week high of $27.61. The stock has a market capitalization of $8,507.95, a price-to-earnings ratio of 7.98, a price-to-earnings-growth ratio of -4.02 and a beta of 0.88. The company has a debt-to-equity ratio of 1.92, a current ratio of 0.82 and a quick ratio of 0.90.
CenturyLink (NYSE:CTL) last announced its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.03). The firm had revenue of $4.03 billion during the quarter, compared to analysts’ expectations of $4.06 billion. CenturyLink had a net margin of 1.89% and a return on equity of 7.99%. The company’s quarterly revenue was down 7.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.56 EPS. equities analysts expect that CenturyLink will post 1.87 EPS for the current fiscal year.
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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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