CenturyLink (CTL) Expected to Post Quarterly Sales of $5.96 Billion

Brokerages expect that CenturyLink (NYSE:CTL) will announce $5.96 billion in sales for the current fiscal quarter, Zacks reports. Six analysts have made estimates for CenturyLink’s earnings. The highest sales estimate is $5.98 billion and the lowest is $5.94 billion. CenturyLink posted sales of $4.21 billion in the same quarter last year, which would indicate a positive year over year growth rate of 41.6%. The firm is scheduled to report its next earnings report after the market closes on Wednesday, May 9th.

According to Zacks, analysts expect that CenturyLink will report full year sales of $23.75 billion for the current financial year, with estimates ranging from $23.68 billion to $23.84 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $23.45 billion per share, with estimates ranging from $23.29 billion to $23.71 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for CenturyLink.

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CenturyLink (NYSE:CTL) last issued its quarterly earnings data on Wednesday, February 14th. The technology company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.14). CenturyLink had a return on equity of 5.88% and a net margin of 7.87%. The firm had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $5.69 billion. During the same period in the previous year, the firm earned $0.54 EPS.

CTL has been the topic 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, March 16th. Guggenheim started coverage on CenturyLink in a report on Tuesday, March 13th. They issued a “neutral” rating and a $17.00 price target for the company. ValuEngine upgraded CenturyLink from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 1st. Bank of America set a $27.00 target price on CenturyLink and gave the stock a “buy” rating in a report on Wednesday, February 21st. Finally, Barclays reiterated a “hold” rating and set a $17.00 target price on shares of CenturyLink in a report on Friday, February 16th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. CenturyLink presently has an average rating of “Hold” and a consensus price target of $21.65.

NYSE:CTL traded up $0.29 during trading hours on Thursday, hitting $17.61. 9,811,259 shares of the company were exchanged, compared to its average volume of 9,635,422. The company has a market cap of $18,840.27, a PE ratio of 11.98, a P/E/G ratio of -10.38 and a beta of 0.79. CenturyLink has a 52-week low of $13.16 and a 52-week high of $27.61. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.59.

In other news, major shareholder Holdings (Private) Ltd Temasek bought 7,620,118 shares of the firm’s stock in a transaction dated Wednesday, April 4th. The stock was acquired at an average price of $16.72 per share, for a total transaction of $127,408,372.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.61% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC lifted its stake in CenturyLink by 37.8% in the 3rd quarter. Janus Henderson Group PLC now owns 144,227 shares of the technology company’s stock worth $2,726,000 after acquiring an additional 39,582 shares in the last quarter. QUANTRES ASSET MANAGEMENT Ltd increased its position in CenturyLink by 420.4% during the 4th quarter. QUANTRES ASSET MANAGEMENT Ltd now owns 84,300 shares of the technology company’s stock valued at $1,406,000 after purchasing an additional 68,100 shares during the period. Exxonmobil Investment Management Inc. TX increased its position in CenturyLink by 54.1% during the 4th quarter. Exxonmobil Investment Management Inc. TX now owns 154,678 shares of the technology company’s stock valued at $2,580,000 after purchasing an additional 54,312 shares during the period. DnB Asset Management AS increased its position in CenturyLink by 84.7% during the 4th quarter. DnB Asset Management AS now owns 105,627 shares of the technology company’s stock valued at $1,762,000 after purchasing an additional 48,427 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in CenturyLink by 70.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 214,524 shares of the technology company’s stock valued at $3,578,000 after purchasing an additional 88,381 shares during the period. 86.10% of the stock is currently owned by hedge funds and other institutional investors.

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About CenturyLink

CenturyLink, Inc provides various communications services to residential, business, wholesale, and governmental customers primarily in the United States. It operates in two segments, Business and Consumer. The company offers virtual private network data network services; Ethernet services; Internet protocol services; CenturyLink Prism TV that allows customers to watch television or cable channels and record up to four shows on one home digital video recorder; and Vyvx, which provides audio and video feeds over fiber or satellite for broadcast and production customers, as well as satellite digital television services.

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Earnings History and Estimates for CenturyLink (NYSE:CTL)

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