$5.73 Billion in Sales Expected for Centurylink Inc (CTL) This Quarter

Equities analysts expect Centurylink Inc (NYSE:CTL) to report sales of $5.73 billion for the current quarter, Zacks reports. Five analysts have issued estimates for Centurylink’s earnings, with the lowest sales estimate coming in at $5.67 billion and the highest estimate coming in at $5.79 billion. Centurylink reported sales of $5.95 billion during the same quarter last year, which would suggest a negative year-over-year growth rate of 3.7%. The business is expected to announce its next quarterly earnings report after the market closes on Wednesday, May 8th.

According to Zacks, analysts expect that Centurylink will report full-year sales of $22.73 billion for the current fiscal year, with estimates ranging from $22.52 billion to $22.91 billion. For the next year, analysts forecast that the business will report sales of $22.16 billion, with estimates ranging from $21.79 billion to $22.54 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Centurylink.

Centurylink (NYSE:CTL) last posted its quarterly earnings data on Wednesday, February 13th. The technology company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. The company had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.78 billion. Centurylink had a positive return on equity of 5.68% and a negative net margin of 7.39%. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period last year, the firm earned $0.18 EPS.

CTL has been the subject of several recent analyst reports. TheStreet cut Centurylink from a “b-” rating to a “c+” rating in a report on Friday, January 4th. Zacks Investment Research cut Centurylink from a “hold” rating to a “sell” rating in a report on Tuesday, January 15th. Guggenheim downgraded Centurylink from a “neutral” rating to a “sell” rating and set a $11.00 price objective for the company. in a research note on Thursday, January 24th. Citigroup downgraded Centurylink from a “neutral” rating to a “sell” rating and set a $14.48 price objective for the company. in a research note on Tuesday, February 5th. Finally, ValuEngine downgraded Centurylink from a “hold” rating to a “sell” rating in a research note on Tuesday, February 5th. Six equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $16.75.

In other Centurylink news, CFO Indraneel Dev acquired 50,000 shares of the stock in a transaction dated Wednesday, March 6th. The stock was acquired at an average price of $11.75 per share, with a total value of $587,500.00. Following the completion of the transaction, the chief financial officer now directly owns 459,153 shares in the company, valued at $5,395,047.75. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jeffrey K. Storey acquired 83,000 shares of the stock in a transaction dated Wednesday, March 6th. The stock was acquired at an average cost of $11.94 per share, with a total value of $991,020.00. Following the transaction, the chief executive officer now owns 3,476,359 shares of the company’s stock, valued at $41,507,726.46. The disclosure for this purchase can be found here. Insiders have acquired 143,000 shares of company stock valued at $1,698,720 in the last three months. 0.60% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in the company. Sciencast Management LP purchased a new stake in shares of Centurylink in the first quarter valued at $247,000. Retirement Systems of Alabama increased its position in shares of Centurylink by 1.0% during the first quarter. Retirement Systems of Alabama now owns 442,823 shares of the technology company’s stock worth $5,309,000 after acquiring an additional 4,490 shares during the last quarter. First Manhattan Co. increased its position in shares of Centurylink by 18.8% during the first quarter. First Manhattan Co. now owns 81,359 shares of the technology company’s stock worth $975,000 after acquiring an additional 12,900 shares during the last quarter. Carnick & Kubik Group LLC increased its position in shares of Centurylink by 2.3% during the first quarter. Carnick & Kubik Group LLC now owns 112,364 shares of the technology company’s stock worth $1,347,000 after acquiring an additional 2,505 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in shares of Centurylink during the first quarter worth about $325,000. 76.09% of the stock is owned by institutional investors and hedge funds.

Shares of CTL traded down $0.09 during mid-day trading on Friday, hitting $12.03. The company’s stock had a trading volume of 245,686 shares, compared to its average volume of 11,160,189. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a market capitalization of $13.19 billion, a P/E ratio of 10.10, a P/E/G ratio of 0.80 and a beta of 0.77. Centurylink has a 1-year low of $11.52 and a 1-year high of $24.20.

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Tuesday, March 12th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 8.31%. The ex-dividend date of this dividend was Monday, March 11th. Centurylink’s payout ratio is 84.03%.

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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Earnings History and Estimates for Centurylink (NYSE:CTL)

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