CIBC Asset Management Inc raised its stake in CenturyLink, Inc. (NYSE:CTL) by 1.6% during the second quarter, Holdings Channel reports. The institutional investor owned 61,964 shares of the technology company’s stock after buying an additional 947 shares during the period. CIBC Asset Management Inc’s holdings in CenturyLink were worth $1,480,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the company. Coastline Trust Co increased its stake in shares of CenturyLink by 9.7% in the first quarter. Coastline Trust Co now owns 18,190 shares of the technology company’s stock valued at $429,000 after buying an additional 1,605 shares in the last quarter. Washington Trust Bank increased its stake in shares of CenturyLink by 133.3% in the first quarter. Washington Trust Bank now owns 16,776 shares of the technology company’s stock valued at $395,000 after buying an additional 9,586 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of CenturyLink by 11.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 51,160 shares of the technology company’s stock valued at $1,194,000 after buying an additional 5,337 shares in the last quarter. Americafirst Capital Management LLC acquired a new stake in shares of CenturyLink during the first quarter valued at $1,607,000. Finally, Atria Investments LLC increased its stake in shares of CenturyLink by 43.6% in the first quarter. Atria Investments LLC now owns 99,579 shares of the technology company’s stock valued at $2,347,000 after buying an additional 30,217 shares in the last quarter. Institutional investors and hedge funds own 78.04% of the company’s stock.
CenturyLink, Inc. (CTL) opened at 21.82 on Thursday. CenturyLink, Inc. has a 52-week low of $21.61 and a 52-week high of $33.45. The company has a market capitalization of $11.81 billion, a P/E ratio of 31.62 and a beta of 0.87. The firm has a 50-day moving average price of $23.33 and a 200 day moving average price of $24.37. CenturyLink also saw some unusual options trading on Tuesday. Stock traders acquired 20,516 call options on the company. This is an increase of approximately 363% compared to the typical volume of 4,432 call options.
CenturyLink (NYSE:CTL) last released its earnings results on Wednesday, August 2nd. The technology company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by $0.03. CenturyLink had a net margin of 2.20% and a return on equity of 8.43%. The company had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.09 billion. During the same period last year, the firm posted $0.63 EPS. The company’s revenue was down 7.0% on a year-over-year basis. On average, analysts predict that CenturyLink, Inc. will post $2.00 earnings per share for the current fiscal year.
Several analysts recently weighed in on the company. Zacks Investment Research upgraded CenturyLink from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research report on Wednesday, April 26th. ValuEngine downgraded CenturyLink from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Cowen and Company set a $25.00 price objective on CenturyLink and gave the stock a “market perform” rating in a research report on Thursday, May 4th. Jefferies Group LLC dropped their price objective on CenturyLink from $26.00 to $23.00 and set a “hold” rating for the company in a research report on Thursday, May 4th. Finally, Vetr upgraded CenturyLink from a “hold” rating to a “buy” rating and set a $27.12 price objective for the company in a research report on Monday, May 1st. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price 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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