LSV Asset Management Buys New Holdings in Centurylink Inc (NYSE:CTL)

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LSV Asset Management bought a new stake in shares of Centurylink Inc (NYSE:CTL) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 216,300 shares of the technology company’s stock, valued at approximately $2,543,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Diversified Trust Co raised its stake in Centurylink by 51.4% during the 2nd quarter. Diversified Trust Co now owns 34,606 shares of the technology company’s stock valued at $407,000 after purchasing an additional 11,748 shares during the period. BTC Capital Management Inc. increased its stake in Centurylink by 14.5% in the 2nd quarter. BTC Capital Management Inc. now owns 203,548 shares of the technology company’s stock worth $2,392,000 after acquiring an additional 25,833 shares during the last quarter. Allstate Corp increased its stake in Centurylink by 71.6% in the 1st quarter. Allstate Corp now owns 38,123 shares of the technology company’s stock worth $457,000 after acquiring an additional 15,908 shares during the last quarter. Janus Henderson Group PLC increased its stake in Centurylink by 1.3% in the 2nd quarter. Janus Henderson Group PLC now owns 2,126,947 shares of the technology company’s stock worth $25,016,000 after acquiring an additional 26,901 shares during the last quarter. Finally, Kwmg LLC increased its stake in Centurylink by 6.0% in the 2nd quarter. Kwmg LLC now owns 194,528 shares of the technology company’s stock worth $2,288,000 after acquiring an additional 10,958 shares during the last quarter. 73.31% of the stock is currently owned by institutional investors.

A number of analysts have issued reports on the company. Guggenheim set a $10.00 price objective on Centurylink and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Citigroup raised Centurylink from a “sell” rating to a “neutral” rating in a research note on Thursday, May 9th. JPMorgan Chase & Co. downgraded Centurylink from a “neutral” rating to an “underweight” rating and set a $10.00 price objective on the stock. in a research note on Thursday, August 8th. Wells Fargo & Co set a $14.00 price objective on Centurylink and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, Raymond James raised Centurylink from an “underperform” rating to a “market perform” rating in a research note on Thursday, August 8th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $14.59.

Shares of NYSE CTL traded up $0.23 during trading hours on Wednesday, hitting $11.75. 184,301 shares of the company traded hands, compared to its average volume of 12,138,429. The stock has a market capitalization of $12.85 billion, a price-to-earnings ratio of 9.87, a price-to-earnings-growth ratio of 0.81 and a beta of 0.83. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 2.53. The company’s 50 day moving average price is $11.44 and its 200 day moving average price is $11.65. Centurylink Inc has a 12 month low of $9.64 and a 12 month high of $23.23.

Centurylink (NYSE:CTL) last released its earnings results on Wednesday, August 7th. The technology company reported $0.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.03. The firm had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.59 billion. Centurylink had a positive return on equity of 8.30% and a negative net margin of 34.77%. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 EPS. Equities analysts anticipate that Centurylink Inc will post 1.32 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Monday, September 2nd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.51%. The ex-dividend date is Thursday, August 29th. Centurylink’s dividend payout ratio is currently 84.03%.

Centurylink Profile

CenturyLink, Inc provides various communications services to residential, business, wholesale, and governmental customers in the United States and internationally. The company operates in two segments, Business and Consumer. It offers VPN data network services; Ethernet services; Internet protocol (IP) services; facilities-based Prism TV service, as well as satellite digital television services; CDN services; and Vyvx broadcast services.

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Institutional Ownership by Quarter for Centurylink (NYSE:CTL)

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