Centurylink (CTL) Given a $20.00 Price Target at Cowen

Centurylink (NYSE:CTL) has been assigned a $20.00 target price by equities research analysts at Cowen in a note issued to investors on Tuesday. The brokerage presently has a “hold” rating on the technology company’s stock. Cowen’s price target indicates a potential downside of 3.52% from the company’s current price.

Several other research firms also recently weighed in on CTL. Zacks Investment Research downgraded Centurylink from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 24th. Royal Bank of Canada boosted their target price on Centurylink to $27.00 and gave the company an “outperform” rating in a report on Thursday, August 16th. Hanson downgraded Centurylink from a “neutral” rating to a “sell” rating and set a $19.00 target price for the company. in a report on Wednesday, August 22nd. Moffett Nathanson reissued a “sell” rating and issued a $23.00 target price on shares of Centurylink in a report on Wednesday, August 22nd. Finally, Bank of America set a $27.00 price objective on Centurylink and gave the company a “buy” rating in a research note on Wednesday, August 8th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $21.24.

Centurylink stock opened at $20.73 on Tuesday. Centurylink has a fifty-two week low of $13.16 and a fifty-two week high of $24.20. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.60. The stock has a market capitalization of $24.75 billion, a PE ratio of 14.10, a PEG ratio of -14.25 and a beta of 0.83.

Centurylink (NYSE:CTL) last posted its earnings results on Wednesday, August 8th. The technology company reported $0.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.03. Centurylink had a return on equity of 4.50% and a net margin of 7.62%. The business had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $5.92 billion. During the same period in the previous year, the business earned $0.46 EPS. The business’s quarterly revenue was up 44.3% on a year-over-year basis. equities research analysts expect that Centurylink will post 1.07 EPS for the current year.

In other Centurylink news, Director Glen F. Post III sold 150,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $24.00, for a total transaction of $3,600,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.60% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of Centurylink by 16,940.6% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,453 shares of the technology company’s stock worth $102,000 after buying an additional 5,421 shares in the last quarter. Rehmann Capital Advisory Group raised its stake in shares of Centurylink by 210.7% during the 2nd quarter. Rehmann Capital Advisory Group now owns 5,873 shares of the technology company’s stock worth $109,000 after buying an additional 3,983 shares in the last quarter. Baker Ellis Asset Management LLC purchased a new position in shares of Centurylink during the 2nd quarter worth approximately $110,000. AdvisorNet Financial Inc raised its stake in shares of Centurylink by 118.4% during the 2nd quarter. AdvisorNet Financial Inc now owns 6,422 shares of the technology company’s stock worth $120,000 after buying an additional 3,482 shares in the last quarter. Finally, Archford Capital Strategies LLC purchased a new position in shares of Centurylink during the 1st quarter worth approximately $130,000. 76.98% of the stock is owned by hedge funds and other institutional investors.

About Centurylink

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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