Centurylink (NYSE:CTL) received a $27.00 target price from analysts at Bank of America in a report released on Wednesday. The firm presently has a “buy” rating on the technology company’s stock. Bank of America’s target price would indicate a potential upside of 48.19% from the company’s current price.
Several other analysts also recently issued reports on the stock. Deutsche Bank reissued a “hold” rating and issued a $16.00 price target on shares of Centurylink in a research report on Thursday, November 9th. Royal Bank of Canada raised shares of Centurylink from a “sector perform” rating to an “outperform” rating in a research report on Thursday, January 25th. They noted that the move was a valuation call. SunTrust Banks reissued a “hold” rating and issued a $25.00 price target on shares of Centurylink in a research report on Wednesday, November 1st. Zacks Investment Research downgraded shares of Centurylink from a “hold” rating to a “sell” rating in a report on Monday, November 13th. Finally, Goldman Sachs Group raised shares of Centurylink from a “sell” rating to a “neutral” rating and set a $19.00 price objective on the stock in a report on Monday, January 8th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $22.08.
Centurylink (NYSE CTL) traded up $0.32 during midday trading on Wednesday, reaching $18.22. 2,090,804 shares of the company traded hands, compared to its average volume of 12,469,499. Centurylink has a twelve month low of $13.16 and a twelve month high of $27.61. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 1.59. The firm has a market cap of $19,320.00, a P/E ratio of 6.05, a P/E/G ratio of -9.81 and a beta of 0.82.
Centurylink (NYSE:CTL) last posted its quarterly earnings results on Wednesday, February 14th. The technology company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.14). Centurylink had a net margin of 7.87% and a return on equity of 5.88%. The business had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.69 billion. During the same period in the previous year, the business posted $0.54 EPS. sell-side analysts anticipate that Centurylink will post 0.94 EPS for the current fiscal year.
In other news, CEO Glen F. Post III acquired 50,000 shares of the stock in a transaction that occurred on Friday, December 8th. The shares were acquired at an average cost of $14.17 per share, for a total transaction of $708,500.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Jeffrey K. Storey acquired 71,000 shares of the stock in a transaction that occurred on Friday, December 8th. The stock was purchased at an average price of $14.30 per share, for a total transaction of $1,015,300.00. Following the completion of the purchase, the chief operating officer now directly owns 2,498,668 shares in the company, valued at approximately $35,730,952.40. The disclosure for this purchase can be found here. Insiders purchased a total of 150,595 shares of company stock worth $2,154,131 over the last three months. 0.61% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Xact Kapitalforvaltning AB increased its position in shares of Centurylink by 65.9% during the fourth quarter. Xact Kapitalforvaltning AB now owns 163,248 shares of the technology company’s stock valued at $2,723,000 after buying an additional 64,817 shares during the period. Envestnet Asset Management Inc. increased its position in shares of Centurylink by 276.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 114,664 shares of the technology company’s stock valued at $1,913,000 after buying an additional 84,242 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Centurylink by 78.1% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 544,260 shares of the technology company’s stock valued at $9,078,000 after buying an additional 238,711 shares during the period. Sawtooth Solutions LLC bought a new stake in shares of Centurylink during the fourth quarter valued at about $1,036,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. increased its position in shares of Centurylink by 82.0% during the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 73,182 shares of the technology company’s stock valued at $1,221,000 after buying an additional 32,982 shares during the period. Hedge funds and other institutional investors own 59.37% 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 Enterprise, 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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