Centurylink Inc (NYSE:CTL) announced a quarterly dividend on Wednesday, May 23rd, RTT News reports. Stockholders of record on Monday, June 4th will be paid a dividend of 0.54 per share by the technology company on Friday, June 15th. This represents a $2.16 annualized dividend and a dividend yield of 11.36%.
Centurylink has a dividend payout ratio of 138.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Centurylink to earn $1.12 per share next year, which means the company may not be able to cover its $2.16 annual dividend with an expected future payout ratio of 192.9%.
Shares of CTL stock traded down $0.28 during trading hours on Wednesday, hitting $19.01. 7,806,500 shares of the company were exchanged, compared to its average volume of 11,708,146. The company has a market cap of $20.80 billion, a price-to-earnings ratio of 12.93, a price-to-earnings-growth ratio of -14.35 and a beta of 0.76. Centurylink has a fifty-two week low of $13.16 and a fifty-two week high of $27.61. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.58.
Centurylink (NYSE:CTL) last announced its quarterly earnings data on Wednesday, May 9th. The technology company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.19 by $0.06. The company had revenue of $5.95 billion during the quarter, compared to the consensus estimate of $5.97 billion. Centurylink had a net margin of 6.92% and a return on equity of 4.94%. The company’s quarterly revenue was up 41.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.35 EPS. analysts anticipate that Centurylink will post 0.9 earnings per share for the current year.
In related news, Director Steven T. Clontz acquired 41,000 shares of the company’s stock in a transaction on Friday, May 11th. The shares were acquired at an average cost of $19.44 per share, for a total transaction of $797,040.00. Following the purchase, the director now owns 162,019 shares in the company, valued at $3,149,649.36. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Holdings (Private) Ltd Temasek acquired 7,620,118 shares of the company’s stock in a transaction on Wednesday, April 4th. The shares were bought at an average price of $16.72 per share, for a total transaction of $127,408,372.96. The disclosure for this purchase can be found here. Company insiders own 0.60% of the company’s stock.
Several analysts have recently commented on the stock. Bank of America reaffirmed a “buy” rating and set a $27.00 price objective on shares of Centurylink in a research report on Wednesday, May 16th. Macquarie downgraded shares of Centurylink from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $27.61 to $18.00 in a research report on Wednesday, May 16th. ValuEngine downgraded shares of Centurylink from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. Zacks Investment Research raised shares of Centurylink from a “sell” rating to a “hold” rating in a research report on Friday, March 16th. Finally, Guggenheim assumed coverage on shares of Centurylink in a research report on Tuesday, March 13th. They issued a “neutral” rating and a $17.00 price target for the company. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $21.00.
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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