First City Capital Management Inc. purchased a new stake in CenturyLink, Inc. (NYSE:CTL) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 7,423 shares of the technology company’s stock, valued at approximately $215,000.
Several other large investors have also modified their holdings of the company. Cleararc Capital Inc. boosted 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 valued at $316,000 after buying an additional 93 shares during the period. Bollard Group LLC boosted 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 valued at $324,000 after buying an additional 103 shares during the period. BB&T Corp boosted 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 valued at $331,000 after buying an additional 109 shares during the period. Ffcm LLC boosted its position in shares of CenturyLink by 0.8% in the first quarter. Ffcm LLC now owns 24,717 shares of the technology company’s stock valued at $583,000 after buying an additional 195 shares during the period. Finally, National Asset Management Inc. boosted its stake in shares of CenturyLink by 2.3% in the first quarter. National Asset Management Inc. now owns 9,802 shares of the technology company’s stock valued at $232,000 after buying an additional 225 shares during the period. Hedge funds and other institutional investors own 77.52% of the company’s stock.
CenturyLink, Inc. (CTL) opened at 23.28 on Friday. CenturyLink, Inc. has a 1-year low of $22.26 and a 1-year high of $33.45. The firm’s 50 day moving average price is $24.15 and its 200-day moving average price is $24.52. The stock has a market cap of $12.78 billion, a price-to-earnings ratio of 22.82 and a beta of 0.88.
CenturyLink (NYSE:CTL) last issued its earnings results on Wednesday, May 3rd. The technology company reported $0.52 EPS for the quarter, missing the Zacks’ consensus estimate of $0.53 by $0.01. CenturyLink had a net margin of 3.20% and a return on equity of 8.96%. The business had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.27 billion. During the same period in the prior year, the business posted $0.71 EPS. The business’s revenue was down 4.4% on a year-over-year basis. On average, equities analysts anticipate that CenturyLink, Inc. will post $2.08 earnings per share for the current year.
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Several analysts have issued reports on CTL shares. Zacks Investment Research raised CenturyLink from a “sell” rating to a “hold” rating in a research report on Tuesday, April 11th. Bank of America Corporation reaffirmed a “buy” rating on shares of CenturyLink in a research report on Tuesday, May 9th. Vetr raised CenturyLink from a “hold” rating to a “buy” rating and set a $27.12 target price on the stock in a research report on Monday, May 1st. 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 research report on Thursday, May 4th. Finally, Raymond James Financial, Inc. reiterated an “underperform” rating on shares of CenturyLink in a report on Monday, May 15th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The stock presently 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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