Global X Management Co. LLC raised its position in shares of CenturyLink, Inc. (NYSE:CTL) by 4.6% during the second quarter, Holdings Channel reports. The institutional investor owned 377,008 shares of the technology company’s stock after buying an additional 16,709 shares during the period. Global X Management Co. LLC’s holdings in CenturyLink were worth $9,003,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of CTL. Cleararc Capital Inc. increased its position in shares of CenturyLink by 0.7% in the first quarter. Cleararc Capital Inc. now owns 13,386 shares of the technology company’s stock worth $316,000 after buying an additional 93 shares in the last quarter. Wellington Shields & Co. LLC increased its position in shares of CenturyLink by 1.1% in the second quarter. Wellington Shields & Co. LLC now owns 9,202 shares of the technology company’s stock worth $220,000 after buying an additional 99 shares in the last quarter. Bollard Group LLC increased its position in shares of CenturyLink by 0.8% in the first quarter. Bollard Group LLC now owns 13,754 shares of the technology company’s stock worth $324,000 after buying an additional 103 shares in the last quarter. BB&T Corp increased its position in shares of CenturyLink by 0.8% in the first quarter. BB&T Corp now owns 14,033 shares of the technology company’s stock worth $331,000 after buying an additional 109 shares in the last quarter. Finally, First Manhattan Co. increased its position in shares of CenturyLink by 0.3% in the second quarter. First Manhattan Co. now owns 37,199 shares of the technology company’s stock worth $888,000 after buying an additional 126 shares in the last quarter. Institutional investors own 78.04% of the company’s stock.
Shares of CenturyLink, Inc. (NYSE:CTL) opened at 21.82 on Thursday. The company has a 50 day moving average price of $23.33 and a 200 day moving average price of $24.37. CenturyLink, Inc. has a 52 week low of $21.61 and a 52 week high of $33.45. The company has a market cap of $11.81 billion, a PE ratio of 31.62 and a beta of 0.87. CenturyLink also was the target of some unusual options trading on Tuesday. Investors purchased 20,516 call options on the company. This is an increase of approximately 363% compared to the average volume of 4,432 call options.
CenturyLink (NYSE:CTL) last announced its earnings results on Wednesday, August 2nd. The technology company reported $0.46 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.49 by $0.03. CenturyLink had a net margin of 2.20% and a return on equity of 8.43%. The firm had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.09 billion. During the same period in the prior year, the business posted $0.63 EPS. The firm’s quarterly revenue was down 7.0% compared to the same quarter last year. On average, equities analysts expect that CenturyLink, Inc. will post $2.00 earnings per share for the current year.
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A number of equities analysts have recently weighed in on the company. UBS AG set a $29.00 target price on CenturyLink and gave the company a “buy” rating in a report on Thursday, June 22nd. Jefferies Group LLC dropped their target price on CenturyLink from $26.00 to $23.00 and set a “hold” rating on the stock in a report on Thursday, May 4th. Bank of America Corporation reiterated a “buy” rating on shares of CenturyLink in a report on Tuesday, May 9th. Cowen and Company set a $25.00 target price on CenturyLink and gave the company a “market perform” rating in a report on Thursday, May 4th. Finally, ValuEngine downgraded CenturyLink from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $26.22.
CenturyLink, Inc is an integrated communications company. The Company is engaged in providing an array of communications services to its residential and business customers. Its segments include business, which provides 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 provides strategic and legacy products and services to residential customers.
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