An issue of CenturyLink Inc. (NYSE:CTL) debt rose 2.8% as a percentage of its face value during trading on Friday. The high-yield debt issue has a 7.65% coupon and is set to mature on March 15, 2042. The debt is now trading at $89.25 and was trading at $87.06 one week ago. Price changes in a company’s debt in credit markets often predict parallel changes in its share price.
CTL has been the topic of a number of research analyst reports. Evercore ISI initiated coverage on shares of CenturyLink in a report on Tuesday, June 21st. They issued a “hold” rating and a $28.00 price target on the stock. Vetr raised shares of CenturyLink from a “sell” rating to a “hold” rating and set a $29.00 price target on the stock in a report on Tuesday, August 16th. Royal Bank Of Canada increased their price target on shares of CenturyLink from $29.00 to $31.00 and gave the stock a “sector perform” rating in a report on Monday, August 8th. Zacks Investment Research lowered shares of CenturyLink from a “buy” rating to a “hold” rating in a report on Friday, August 5th. Finally, Morgan Stanley lowered shares of CenturyLink from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $31.00 to $27.00 in a report on Monday, July 18th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $28.37.
CenturyLink Inc. (NYSE:CTL) traded up 2.93% during midday trading on Friday, hitting $27.76. 13,519,671 shares of the stock traded hands. The firm’s 50-day moving average is $27.81 and its 200-day moving average is $29.21. CenturyLink Inc. has a 52-week low of $21.94 and a 52-week high of $32.94. The company has a market cap of $15.16 billion, a price-to-earnings ratio of 15.54 and a beta of 0.80.
CenturyLink (NYSE:CTL) last released its earnings results on Wednesday, August 3rd. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.59 by $0.04. CenturyLink had a net margin of 5.47% and a return on equity of 11.02%. The firm had revenue of $440 billion for the quarter, compared to the consensus estimate of $4.39 billion. During the same quarter in the previous year, the firm earned $0.55 earnings per share. The company’s quarterly revenue was down .5% compared to the same quarter last year. Analysts predict that CenturyLink Inc. will post $2.53 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, September 2nd were issued a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 7.78%. The ex-dividend date was Wednesday, August 31st. CenturyLink’s dividend payout ratio (DPR) is presently 120.67%.
In other news, Director Harvey P. Perry sold 20,000 shares of the business’s stock in a transaction on Wednesday, July 13th. The shares were sold at an average price of $31.00, for a total value of $620,000.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.61% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Teachers Advisors Inc. increased its position in CenturyLink by 12.9% in the first quarter. Teachers Advisors Inc. now owns 1,103,361 shares of the company’s stock valued at $35,263,000 after buying an additional 126,165 shares during the period. BlackRock Group LTD increased its position in CenturyLink by 11.9% in the first quarter. BlackRock Group LTD now owns 5,379,934 shares of the company’s stock valued at $171,944,000 after buying an additional 572,227 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in CenturyLink by 5.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 15,427,843 shares of the company’s stock valued at $493,074,000 after buying an additional 792,193 shares during the period. Columbia Partners L L C Investment Management bought a new position in CenturyLink during the first quarter valued at approximately $980,000. Finally, Acrospire Investment Management LLC bought a new position in CenturyLink during the first quarter valued at approximately $109,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.
CenturyLink, Inc is an integrated communications company. The Company is engaged in providing an array of communications services to residential and business customers. The Company’s segments include Business and Consumer. Its communications services include local and long-distance voice, high-speed Internet, Multi-Protocol Label Switching (MPLS), private line (including special access), data integration, Ethernet, colocation, managed hosting (including cloud hosting), network, public access, video, wireless and other ancillary services.
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