CenturyLink (CTL) Bond Prices Rise 1.4%

An issue of CenturyLink, Inc. (NYSE:CTL) bonds rose 1.4% as a percentage of their face value during trading on Monday. The high-yield issue of debt has a 5.8% coupon and is set to mature on March 15, 2022. The debt is now trading at $96.38 and was trading at $95.60 one week ago. Price moves in a company’s bonds in credit markets sometimes anticipate parallel moves in its stock price.

CTL has been the topic of a number of analyst reports. Bank of America lowered their price objective on CenturyLink from $42.00 to $27.00 and set a “buy” rating on the stock in a report on Friday, November 10th. Deutsche Bank reissued a “hold” rating and set a $16.00 price objective on shares of CenturyLink in a report on Thursday, November 9th. Zacks Investment Research raised CenturyLink from a “sell” rating to a “hold” rating in a report on Friday, October 13th. SunTrust Banks reissued a “hold” rating and set a $25.00 price objective on shares of CenturyLink in a report on Wednesday, November 1st. Finally, ValuEngine lowered CenturyLink from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $23.07.

CenturyLink, Inc. (NYSE CTL) traded down $0.17 on Wednesday, reaching $15.70. The company’s stock had a trading volume of 15,525,300 shares, compared to its average volume of 10,982,824. The firm has a market cap of $16,965.08, a price-to-earnings ratio of 8.18, a P/E/G ratio of -4.96 and a beta of 0.79. The company has a debt-to-equity ratio of 1.92, a current ratio of 0.82 and a quick ratio of 0.82. CenturyLink, Inc. has a 12-month low of $13.16 and a 12-month high of $27.61.

CenturyLink (NYSE:CTL) last released its earnings results on Wednesday, November 8th. The technology company reported $0.42 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.03). The business had revenue of $4.03 billion during the quarter, compared to analyst estimates of $4.06 billion. CenturyLink had a net margin of 1.89% and a return on equity of 7.99%. The business’s quarterly revenue was down 7.9% compared to the same quarter last year. During the same period last year, the business earned $0.56 EPS. equities research analysts expect that CenturyLink, Inc. will post 1.6 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 11th. Shareholders of record on Monday, November 27th were given a $0.54 dividend. The ex-dividend date was Friday, November 24th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 13.76%. CenturyLink’s dividend payout ratio is currently 372.42%.

In other news, Director Virginia Boulet acquired 5,095 shares of CenturyLink stock in a transaction on Monday, December 11th. The stock was bought at an average price of $15.48 per share, for a total transaction of $78,870.60. Following the transaction, the director now owns 42,820 shares of the company’s stock, valued at $662,853.60. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Harvey P. Perry acquired 7,500 shares of CenturyLink stock in a transaction on Friday, December 8th. The stock was purchased at an average price of $14.32 per share, with a total value of $107,400.00. The disclosure for this purchase can be found here. Insiders acquired a total of 150,595 shares of company stock valued at $2,154,131 in the last quarter. Corporate insiders own 0.61% of the company’s stock.

Several hedge funds have recently made changes to their positions in CTL. Vanguard Group Inc. lifted its position in shares of CenturyLink by 22.6% during 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 period. Dimensional Fund Advisors LP lifted its position in shares of CenturyLink by 6.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 10,289,893 shares of the technology company’s stock worth $194,498,000 after buying an additional 600,462 shares during the period. Northern Trust Corp lifted its position in shares of CenturyLink by 1.4% during the 2nd quarter. Northern Trust Corp now owns 6,978,167 shares of the technology company’s stock worth $166,639,000 after buying an additional 95,821 shares during the period. Capital World Investors bought a new position in shares of CenturyLink during the 2nd quarter worth approximately $142,086,000. Finally, Epoch Investment Partners Inc. lifted its position in shares of CenturyLink by 11.0% during the 3rd quarter. Epoch Investment Partners Inc. now owns 5,521,373 shares of the technology company’s stock worth $104,354,000 after buying an additional 546,435 shares during the period. Institutional investors own 82.32% of the company’s stock.

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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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