CenturyLink, Inc. (NYSE:CTL) was upgraded by equities researchers at Vetr from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Wednesday. The firm currently has a $27.84 price target on the stock. Vetr‘s price objective would indicate a potential upside of 13.96% from the company’s previous close.
CTL has been the subject of a number of other research reports. SunTrust Banks, Inc. initiated coverage on shares of CenturyLink in a report on Monday, December 12th. They issued a “hold” rating and a $27.00 price objective for the company. Zacks Investment Research raised shares of CenturyLink from a “sell” rating to a “hold” rating in a report on Thursday, October 13th. J P Morgan Chase & Co raised shares of CenturyLink from a “neutral” rating to an “overweight” rating and set a $28.00 price objective for the company in a report on Tuesday, January 3rd. Cowen and Company set a $29.00 price objective on shares of CenturyLink and gave the company a “hold” rating in a report on Tuesday, December 20th. Finally, Raymond James Financial, Inc. cut shares of CenturyLink from an “outperform” rating to a “market perform” rating in a report on Friday, October 28th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. CenturyLink has a consensus rating of “Hold” and a consensus price target of $28.52.
Shares of CenturyLink (NYSE:CTL) traded down 1.81% during midday trading on Wednesday, hitting $24.43. 13,671,506 shares of the stock were exchanged. The firm’s 50-day moving average is $25.12 and its 200-day moving average is $26.63. The stock has a market cap of $13.36 billion, a price-to-earnings ratio of 14.40 and a beta of 0.83. CenturyLink has a 12 month low of $22.86 and a 12 month high of $33.45.
CenturyLink (NYSE:CTL) last issued its earnings results on Wednesday, February 8th. The company reported $0.54 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by $0.02. CenturyLink had a return on equity of 10.48% and a net margin of 5.22%. The business had revenue of $4.29 billion for the quarter, compared to analysts’ expectations of $4.32 billion. During the same period last year, the business earned $0.80 EPS. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. Equities research analysts predict that CenturyLink will post $2.47 earnings per share for the current year.
In other news, EVP Aamir Hussain bought 14,580 shares of the firm’s stock in a transaction on Thursday, November 10th. The shares were bought at an average cost of $24.00 per share, for a total transaction of $349,920.00. Following the acquisition, the executive vice president now directly owns 179,075 shares of the company’s stock, valued at approximately $4,297,800. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.61% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Strs Ohio increased its stake in CenturyLink by 6.8% in the second quarter. Strs Ohio now owns 33,825 shares of the company’s stock worth $981,000 after buying an additional 2,156 shares during the period. Sumitomo Mitsui Asset Management Company LTD increased its stake in CenturyLink by 1.4% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 42,731 shares of the company’s stock worth $1,239,000 after buying an additional 601 shares during the period. Sequoia Financial Advisors LLC bought a new stake in CenturyLink during the second quarter worth about $201,000. Tocqueville Asset Management L.P. increased its stake in CenturyLink by 1.1% in the second quarter. Tocqueville Asset Management L.P. now owns 85,854 shares of the company’s stock worth $2,491,000 after buying an additional 941 shares during the period. Finally, Kalos Management Inc. bought a new stake in CenturyLink during the second quarter worth about $2,685,000. 74.62% of the stock is currently owned by institutional investors and hedge funds.
CenturyLink Company Profile
CenturyLink, Inc is a United States-based integrated communications company, which is engaged in providing a range of communications services to its residential and business customers. The Company operates through two segments: Business, which includes provision of 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 includes provision of strategic and legacy products and services to residential customers.
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