Centurylink (CTL) Bonds Rise 0.8% During Trading

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An issue of Centurylink Inc (NYSE:CTL) bonds rose 0.8% against their face value during trading on Friday. The high-yield issue of debt has a 5.625% coupon and is set to mature on April 1, 2020. The bonds in the issue are now trading at $103.25 and were trading at $102.38 one week ago. Price moves in a company’s bonds in credit markets sometimes anticipate parallel moves in its stock price.

Several equities analysts have weighed in on CTL shares. Barclays reaffirmed a “hold” rating and issued a $21.00 price objective on shares of Centurylink in a report on Friday. Zacks Investment Research upgraded Centurylink from a “sell” rating to a “hold” rating in a research report on Friday. ValuEngine lowered Centurylink from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. Jefferies Financial Group upgraded Centurylink from a “hold” rating to a “buy” rating in a research report on Tuesday, June 26th. Finally, Macquarie lowered Centurylink from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $27.61 to $18.00 in a research report on Wednesday, May 16th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. Centurylink currently has a consensus rating of “Hold” and an average price target of $21.13.

Shares of Centurylink traded up $0.41, reaching $21.38, during trading on Friday, according to Marketbeat.com. The company had a trading volume of 16,412,532 shares, compared to its average volume of 8,027,431. Centurylink Inc has a 12 month low of $13.16 and a 12 month high of $22.03. The firm has a market capitalization of $22.62 billion, a PE ratio of 14.54, a price-to-earnings-growth ratio of -14.69 and a beta of 0.80. The company has a current ratio of 0.98, a quick ratio of 0.88 and a debt-to-equity ratio of 1.60.

Centurylink (NYSE:CTL) last announced its quarterly earnings data on Wednesday, August 8th. The technology company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. The company had revenue of $5.90 billion for the quarter, compared to the consensus estimate of $5.92 billion. Centurylink had a return on equity of 4.50% and a net margin of 7.62%. The firm’s revenue was up 44.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.46 EPS. analysts forecast that Centurylink Inc will post 1 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in CTL. Stephens Inc. AR raised its stake in shares of Centurylink by 5.2% in the second quarter. Stephens Inc. AR now owns 342,921 shares of the technology company’s stock worth $6,392,000 after purchasing an additional 17,048 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its stake in shares of Centurylink by 9.0% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 949,945 shares of the technology company’s stock worth $17,707,000 after purchasing an additional 78,751 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of Centurylink by 4.4% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 103,126 shares of the technology company’s stock worth $1,922,000 after purchasing an additional 4,359 shares during the last quarter. Sentry Investment Management LLC raised its stake in shares of Centurylink by 4.9% in the second quarter. Sentry Investment Management LLC now owns 63,119 shares of the technology company’s stock worth $1,177,000 after purchasing an additional 2,967 shares during the last quarter. Finally, Meadow Creek Investment Management LLC raised its stake in shares of Centurylink by 4.6% in the second quarter. Meadow Creek Investment Management LLC now owns 69,720 shares of the technology company’s stock worth $1,300,000 after purchasing an additional 3,080 shares during the last quarter. 78.74% of the stock is currently owned by institutional investors.

Centurylink Company Profile

CenturyLink, Inc provides various communications services to residential, business, wholesale, and governmental customers primarily in the United States. It operates in two segments, Business and Consumer. The company offers virtual private network data network services; Ethernet services; Internet protocol services; CenturyLink Prism TV that allows customers to watch television or cable channels and record up to four shows on one home digital video recorder; and Vyvx, which provides audio and video feeds over fiber or satellite for broadcast and production customers, as well as satellite digital television services.

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