Centurylink (CTL) Stock Rating Upgraded by Goldman Sachs Group

Centurylink (NYSE:CTL) was upgraded by equities research analysts at Goldman Sachs Group from a “sell” rating to a “neutral” rating in a note issued to investors on Monday. The firm presently has a $19.00 price target on the technology company’s stock. Goldman Sachs Group’s price objective indicates a potential upside of 8.78% from the company’s current price.

Several other equities analysts have also recently weighed in on CTL. Jefferies Group dropped their price target on shares of Centurylink to $17.00 and set a “hold” rating on the stock in a research report on Thursday, November 9th. Oppenheimer cut their price objective on shares of Centurylink from $28.00 to $20.00 and set an “outperform” rating on the stock in a report on Friday, November 10th. Deutsche Bank restated a “hold” rating and set a $16.00 price objective on shares of Centurylink in a research report on Thursday, November 9th. Zacks Investment Research raised shares of Centurylink from a “sell” rating to a “hold” rating in a research note on Friday, October 13th. Finally, Barclays raised shares of Centurylink from an “underweight” rating to an “equal weight” rating and set a $16.00 target price for the company in a research note on Friday, December 15th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $22.37.

Shares of Centurylink (CTL) traded up $0.93 during mid-day trading on Monday, hitting $17.47. The company’s stock had a trading volume of 9,393,843 shares, compared to its average volume of 16,760,000. 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 company has a market cap of $18,710.00, a P/E ratio of 30.11, a P/E/G ratio of -7.59 and a beta of 0.79. Centurylink has a 52 week low of $13.16 and a 52 week high of $27.61.

Centurylink (NYSE:CTL) last issued its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.42 EPS 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 the consensus estimate of $4.06 billion. Centurylink had a net margin of 1.89% and a return on equity of 7.99%. The business’s revenue for the quarter was down 7.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.56 earnings per share. equities analysts expect that Centurylink will post 1.56 EPS for the current year.

In other Centurylink news, Director Virginia Boulet purchased 5,095 shares of Centurylink stock in a transaction dated Monday, December 11th. The shares were acquired at an average price of $15.48 per share, with a total value of $78,870.60. Following the completion of the transaction, the director now owns 42,820 shares of the company’s stock, valued at $662,853.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Vice Chairman William Bruce Hanks bought 10,000 shares of Centurylink stock in a transaction that occurred on Friday, December 8th. The stock was purchased at an average cost of $14.41 per share, for a total transaction of $144,100.00. Following the acquisition, the insider now owns 58,722 shares of the company’s stock, valued at $846,184.02. The disclosure for this purchase can be found here. Insiders acquired 150,595 shares of company stock worth $2,154,131 in the last ninety days. 0.61% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of CTL. Fieldpoint Private Securities LLC purchased a new position in Centurylink in the third quarter valued at approximately $115,000. Patriot Financial Group Insurance Agency LLC increased its stake in Centurylink by 178.6% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 6,684 shares of the technology company’s stock valued at $134,000 after purchasing an additional 4,285 shares during the last quarter. Blue Granite Capital LLC purchased a new position in Centurylink in the third quarter valued at approximately $136,000. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Centurylink by 10,329.0% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,196 shares of the technology company’s stock valued at $136,000 after purchasing an additional 7,127 shares during the last quarter. Finally, Tower Research Capital LLC TRC purchased a new position in Centurylink in the second quarter valued at approximately $197,000. 82.32% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Centurylink (NYSE:CTL)

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