CenturyLink, Inc. (CTL) Bond Prices Fall 1.8%

An issue of CenturyLink, Inc. (NYSE:CTL) debt fell 1.8% as a percentage of its face value during trading on Wednesday. The high-yield issue of debt has a 5.625% coupon and will mature on April 1, 2025. The debt is now trading at $87.00 and was trading at $93.38 one week ago. Price changes in a company’s debt in credit markets sometimes predict parallel changes in its share price.

CTL has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of CenturyLink from a “sell” rating to a “hold” rating in a research note on Friday, October 13th. ValuEngine cut shares of CenturyLink from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Cowen and Company restated a “hold” rating and issued a $24.00 target price on shares of CenturyLink in a research note on Thursday, October 19th. SunTrust Banks, Inc. restated a “hold” rating and issued a $25.00 target price on shares of CenturyLink in a research note on Wednesday, November 1st. Finally, Deutsche Bank AG reduced their target price on shares of CenturyLink from $23.00 to $20.00 and set a “hold” rating for the company in a research note on Tuesday, October 10th. Five analysts have rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. CenturyLink presently has a consensus rating of “Hold” and an average price target of $23.07.

Shares of CenturyLink, Inc. (NYSE:CTL) traded down $0.03 during midday trading on Friday, hitting $14.75. 13,027,600 shares of the company traded hands, compared to its average volume of 10,414,333. The company has a debt-to-equity ratio of 1.92, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market capitalization of $15,830.00, a PE ratio of 7.62, a price-to-earnings-growth ratio of -4.66 and a beta of 0.88. CenturyLink, Inc. has a 12-month low of $14.06 and a 12-month high of $27.61.

CenturyLink (NYSE:CTL) last announced its earnings results on Wednesday, November 8th. The technology company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.03). The business had revenue of $4.03 billion for the quarter, compared to analyst estimates of $4.06 billion. CenturyLink had a return on equity of 7.99% and a net margin of 1.89%. The business’s revenue was down 7.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.56 EPS. research analysts forecast that CenturyLink, Inc. will post 1.59 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Monday, November 27th will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 14.64%. The ex-dividend date is Friday, November 24th. CenturyLink’s payout ratio is currently 372.41%.

A number of institutional investors and hedge funds have recently made changes to their positions in CTL. Endurance Wealth Management Inc. raised its position in CenturyLink by 18.5% during the second quarter. Endurance Wealth Management Inc. now owns 4,650 shares of the technology company’s stock worth $111,000 after acquiring an additional 725 shares during the last quarter. Fieldpoint Private Securities LLC acquired a new position in CenturyLink during the third quarter worth about $115,000. Patriot Financial Group Insurance Agency LLC raised its position in CenturyLink by 178.6% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 6,684 shares of the technology company’s stock worth $134,000 after acquiring an additional 4,285 shares during the last quarter. Blue Granite Capital LLC acquired a new position in CenturyLink during the third quarter worth about $136,000. Finally, Tower Research Capital LLC TRC acquired a new position in CenturyLink during the second quarter worth about $197,000. Institutional investors own 81.74% of the company’s stock.

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About CenturyLink

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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