Centurylink Inc (NYSE:CTL)’s share price rose 6.2% during mid-day trading on Friday . The stock traded as high as $11.22 and last traded at $11.21, approximately 11,488,533 shares traded hands during trading. A decline of 20% from the average daily volume of 14,376,943 shares. The stock had previously closed at $10.56.
Several research analysts have weighed in on CTL shares. JPMorgan Chase & Co. downgraded Centurylink from a “neutral” rating to an “underweight” rating and set a $10.00 price target for the company. in a report on Thursday, August 8th. Citigroup upgraded Centurylink from a “sell” rating to a “neutral” rating in a report on Thursday, May 9th. Wells Fargo & Co set a $14.00 price target on Centurylink and gave the company a “buy” rating in a report on Monday, August 12th. Raymond James upgraded Centurylink from an “underperform” rating to a “market perform” rating in a report on Thursday, August 8th. Finally, Guggenheim set a $10.00 price target on Centurylink and gave the company a “hold” rating in a report on Wednesday, August 7th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. Centurylink presently has an average rating of “Hold” and a consensus target price of $14.96.
The company has a fifty day simple moving average of $11.62 and a two-hundred day simple moving average of $11.90. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.71 and a current ratio of 0.60. The company has a market capitalization of $11.52 billion, a price-to-earnings ratio of 9.42, a P/E/G ratio of 0.75 and a beta of 0.85.
Centurylink (NYSE:CTL) last issued its quarterly earnings results on Wednesday, August 7th. The technology company reported $0.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.03. The company had revenue of $5.58 billion during the quarter, compared to the consensus estimate of $5.59 billion. Centurylink had a positive return on equity of 8.30% and a negative net margin of 34.77%. Centurylink’s revenue was down 5.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.27 EPS. As a group, analysts expect that Centurylink Inc will post 1.31 EPS for the current year.
In related news, insider William Bruce Hanks acquired 10,000 shares of the stock in a transaction dated Thursday, May 30th. The stock was bought at an average cost of $10.63 per share, with a total value of $106,300.00. Following the purchase, the insider now directly owns 92,172 shares of the company’s stock, valued at $979,788.36. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Indraneel Dev acquired 15,000 shares of the stock in a transaction dated Thursday, May 23rd. The shares were bought at an average cost of $9.81 per share, with a total value of $147,150.00. Following the completion of the purchase, the chief financial officer now directly owns 471,053 shares in the company, valued at $4,621,029.93. The disclosure for this purchase can be found here. Insiders have bought a total of 95,000 shares of company stock valued at $941,550 over the last three months. Corporate insiders own 0.50% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in Centurylink by 12.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 14,763,545 shares of the technology company’s stock valued at $223,688,000 after acquiring an additional 1,587,647 shares during the period. Geode Capital Management LLC lifted its holdings in Centurylink by 9.2% in the fourth quarter. Geode Capital Management LLC now owns 13,305,449 shares of the technology company’s stock valued at $201,523,000 after acquiring an additional 1,119,125 shares during the period. Mercer Global Advisors Inc. ADV bought a new position in Centurylink in the first quarter valued at about $325,000. Retirement Systems of Alabama lifted its holdings in Centurylink by 1.0% in the first quarter. Retirement Systems of Alabama now owns 442,823 shares of the technology company’s stock valued at $5,309,000 after acquiring an additional 4,490 shares during the period. Finally, Sciencast Management LP bought a new position in Centurylink in the first quarter valued at about $247,000. 75.51% of the stock is owned by institutional investors.
Centurylink Company Profile (NYSE:CTL)
CenturyLink, Inc provides various communications services to residential, business, wholesale, and governmental customers in the United States and internationally. The company operates in two segments, Business and Consumer. It offers VPN data network services; Ethernet services; Internet protocol (IP) services; facilities-based Prism TV service, as well as satellite digital television services; CDN services; and Vyvx broadcast services.
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