CenturyLink, Inc. (CTL) Bond Prices Fall 1.3%

An issue of CenturyLink, Inc. (NYSE:CTL) debt fell 1.3% against its face value during trading on Wednesday. The high-yield debt issue has a 7.6% coupon and will mature on September 15, 2039. The debt is now trading at $92.50 and was trading at $94.50 last week. Price changes in a company’s debt in credit markets sometimes predict parallel changes in its stock price.

A number of research analysts recently commented on the company. UBS AG set a $29.00 price target on CenturyLink and gave the stock a “buy” rating in a research report on Thursday, June 22nd. ValuEngine upgraded CenturyLink from a “hold” rating to a “buy” rating in a research report on Friday, August 18th. Royal Bank Of Canada restated a “hold” rating and issued a $25.00 price target on shares of CenturyLink in a research report on Monday, September 18th. Zacks Investment Research cut CenturyLink from a “hold” rating to a “strong sell” rating in a research report on Friday, August 25th. Finally, Morgan Stanley decreased their price target on CenturyLink from $27.00 to $26.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 23rd. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. CenturyLink has an average rating of “Hold” and a consensus target price of $25.15.

CenturyLink, Inc. (CTL) traded down 1.95% on Wednesday, reaching $18.65. The company’s stock had a trading volume of 24,761,689 shares. The firm has a market cap of $10.25 billion, a PE ratio of 27.03 and a beta of 0.89. CenturyLink, Inc. has a 52-week low of $18.17 and a 52-week high of $33.45. The stock’s 50 day moving average price is $19.43 and its 200 day moving average price is $22.88.

CenturyLink (NYSE:CTL) last posted its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.03). CenturyLink had a return on equity of 8.43% and a net margin of 2.20%. The company had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.09 billion. During the same quarter in the previous year, the business earned $0.63 earnings per share. CenturyLink’s revenue was down 7.0% compared to the same quarter last year. Equities research analysts expect that CenturyLink, Inc. will post $1.93 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of CTL. Wellington Management Group LLP grew its position in CenturyLink by 41.8% during the 1st quarter. Wellington Management Group LLP now owns 580,674 shares of the technology company’s stock worth $13,686,000 after acquiring an additional 171,073 shares during the last quarter. Cleararc Capital Inc. grew its position in CenturyLink by 0.7% during the 1st quarter. Cleararc Capital Inc. now owns 13,386 shares of the technology company’s stock worth $316,000 after acquiring an additional 93 shares during the last quarter. Thrivent Financial For Lutherans grew its position in CenturyLink by 5.9% during the 1st quarter. Thrivent Financial For Lutherans now owns 20,192 shares of the technology company’s stock worth $476,000 after acquiring an additional 1,130 shares during the last quarter. Global X Management Co. LLC grew its position in CenturyLink by 6,224.4% during the 1st quarter. Global X Management Co. LLC now owns 360,299 shares of the technology company’s stock worth $8,492,000 after acquiring an additional 354,602 shares during the last quarter. Finally, Menta Capital LLC grew its position in CenturyLink by 31.1% during the 1st quarter. Menta Capital LLC now owns 136,131 shares of the technology company’s stock worth $3,209,000 after acquiring an additional 32,300 shares during the last quarter. Institutional investors and hedge funds own 82.95% of the company’s stock.

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About CenturyLink

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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