CenturyLink, Inc. (NYSE:CTL) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Tuesday.
CTL has been the topic of several other reports. Zacks Investment Research upgraded shares of CenturyLink from a “sell” rating to a “hold” rating in a report on Friday. Cowen and Company boosted their price objective on shares of CenturyLink from $25.00 to $27.00 and gave the company a “market perform” rating in a report on Wednesday, July 5th. Jefferies Group LLC restated a “hold” rating and issued a $22.00 price objective on shares of CenturyLink in a report on Tuesday, October 3rd. BidaskClub lowered shares of CenturyLink from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Finally, Deutsche Bank AG reduced their price objective on shares of CenturyLink from $23.00 to $20.00 and set a “hold” rating on the stock in a report on Tuesday, October 10th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $25.15.
CenturyLink (CTL) traded down 3.74% on Tuesday, hitting $19.02. 18,804,110 shares of the stock were exchanged. The stock’s 50 day moving average price is $19.43 and its 200 day moving average price is $22.88. CenturyLink has a 52-week low of $18.17 and a 52-week high of $33.45. The firm has a market cap of $10.45 billion, a PE ratio of 27.57 and a beta of 0.89.
CenturyLink (NYSE:CTL) last issued its quarterly earnings data 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). The company had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.09 billion. CenturyLink had a net margin of 2.20% and a return on equity of 8.43%. The firm’s quarterly revenue was down 7.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.63 earnings per share. Equities research analysts forecast that CenturyLink will post $1.93 earnings per share for the current year.
Several institutional investors have recently made changes to their positions in CTL. Vanguard Group Inc. grew its position in shares of CenturyLink by 22.6% during the second quarter. Vanguard Group Inc. now owns 57,351,163 shares of the technology company’s stock worth $1,369,547,000 after buying an additional 10,583,246 shares in the last quarter. Capital World Investors acquired a new position in shares of CenturyLink during the second quarter worth about $142,086,000. Standard Life Investments LTD acquired a new position in shares of CenturyLink during the second quarter worth about $112,613,000. Fiduciary Management Inc. WI acquired a new position in shares of CenturyLink during the second quarter worth about $86,411,000. Finally, Samlyn Capital LLC acquired a new position in shares of CenturyLink during the second quarter worth about $80,290,000. 82.95% of the stock is owned by institutional investors and hedge funds.
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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