An issue of CenturyLink Inc. (NYSE:CTL) bonds fell 0.8% against their face value during trading on Monday. The debt issue has a 6.75% coupon and is set to mature on December 1, 2023. The debt is now trading at $104.56 and was trading at $104.05 last week. Price moves in a company’s bonds in credit markets sometimes anticipate parallel moves in its share price.
A number of brokerages recently commented on CTL. Macquarie began coverage on CenturyLink in a research note on Monday, July 11th. They issued a “neutral” rating and a $31.00 price target for the company. Vetr raised CenturyLink from a “hold” rating to a “buy” rating and set a $29.33 price target for the company in a research note on Wednesday, August 31st. Jefferies Group reaffirmed a “sell” rating on shares of CenturyLink in a research note on Friday, September 2nd. RBC Capital Markets reaffirmed a “sector perform” rating and issued a $31.00 price target (up previously from $29.00) on shares of CenturyLink in a research note on Wednesday, August 10th. Finally, Morgan Stanley lowered CenturyLink from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $31.00 to $27.00 in a research note on Monday, July 18th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the stock. CenturyLink currently has a consensus rating of “Hold” and a consensus target price of $28.37.
CenturyLink Inc. (NYSE:CTL) opened at 27.52 on Tuesday. The company has a market capitalization of $15.03 billion, a P/E ratio of 15.41 and a beta of 0.80. CenturyLink Inc. has a one year low of $21.94 and a one year high of $32.94. The stock’s 50 day moving average price is $28.07 and its 200 day moving average price is $29.30.
CenturyLink (NYSE:CTL) last released its earnings results on Wednesday, August 3rd. The company reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.04. The firm had revenue of $440 billion for the quarter, compared to the consensus estimate of $4.39 billion. CenturyLink had a return on equity of 11.02% and a net margin of 5.47%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 EPS. Equities analysts anticipate that CenturyLink Inc. will post $2.53 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, September 2nd were given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 7.85%. The ex-dividend date was Wednesday, August 31st. CenturyLink’s dividend payout ratio is currently 120.67%.
In other news, Director Harvey P. Perry sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 13th. The stock was sold at an average price of $31.00, for a total transaction of $620,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.61% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in CTL. Glenmede Trust Co. NA increased its position in CenturyLink by 53.1% in the first quarter. Glenmede Trust Co. NA now owns 123,060 shares of the company’s stock valued at $3,931,000 after buying an additional 42,658 shares in the last quarter. CIBC World Markets Inc. bought a new position in CenturyLink during the first quarter valued at $1,552,000. TIAA CREF Investment Management LLC increased its position in CenturyLink by 20.4% in the first quarter. TIAA CREF Investment Management LLC now owns 3,518,867 shares of the company’s stock valued at $112,463,000 after buying an additional 597,026 shares in the last quarter. Teachers Advisors Inc. increased its position in CenturyLink by 12.9% in the first quarter. Teachers Advisors Inc. now owns 1,103,361 shares of the company’s stock valued at $35,263,000 after buying an additional 126,165 shares in the last quarter. Finally, Prudential Financial Inc. increased its position in CenturyLink by 1.6% in the first quarter. Prudential Financial Inc. now owns 1,305,705 shares of the company’s stock valued at $41,730,000 after buying an additional 20,900 shares in the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.
CenturyLink, Inc is an integrated communications company. The Company is engaged in providing an array of communications services to residential and business customers. The Company’s segments include Business and Consumer. Its communications services include local and long-distance voice, high-speed Internet, Multi-Protocol Label Switching (MPLS), private line (including special access), data integration, Ethernet, colocation, managed hosting (including cloud hosting), network, public access, video, wireless and other ancillary services.
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