An issue of CenturyLink Inc. (NYSE:CTL) bonds fell 2.8% as a percentage of their face value during trading on Thursday. The high-yield debt issue has a 7.65% coupon and will mature on March 15, 2042. The debt is now trading at $86.50 and was trading at $88.80 one week ago. Price moves in a company’s bonds in credit markets sometimes anticipate parallel moves in its share price.
A number of analysts have recently commented on CTL shares. Zacks Investment Research cut shares of CenturyLink from a “hold” rating to a “sell” rating in a report on Tuesday. Vetr upgraded shares of CenturyLink from a “hold” rating to a “buy” rating and set a $29.33 target price on the stock in a report on Wednesday, August 31st. Macquarie started coverage on shares of CenturyLink in a report on Monday, July 11th. They set a “neutral” rating and a $31.00 target price on the stock. Jefferies Group restated a “sell” rating on shares of CenturyLink in a report on Friday, September 2nd. Finally, Evercore ISI started coverage on CenturyLink in a research report on Tuesday, June 21st. They issued a “hold” rating and a $28.00 price target for the company. Three analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average 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 company has a 50-day moving average of $27.81 and a 200-day moving average of $29.21. CenturyLink Inc. has a 12 month low of $21.94 and a 12 month high of $32.94. The stock has a market cap of $15.16 billion, a PE ratio of 15.54 and a beta of 0.80.
CenturyLink (NYSE:CTL) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. CenturyLink had a return on equity of 11.02% and a net margin of 5.47%. The company had revenue of $440 billion for the quarter, compared to the consensus estimate of $4.39 billion. During the same quarter last year, the company earned $0.55 earnings per share. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. On average, equities research analysts anticipate that CenturyLink Inc. will post $2.53 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, September 2nd were given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 7.78%. The ex-dividend date of this dividend was Wednesday, August 31st. CenturyLink’s payout ratio is currently 120.67%.
In related news, Director Harvey P. Perry sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, July 13th. The stock was sold at an average price of $31.00, for a total transaction of $620,000.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.61% of the company’s stock.
A number of large investors have recently modified their holdings of CTL. Northwestern Mutual Investment Management Company LLC increased its stake in shares of CenturyLink by 0.3% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 20,832 shares of the company’s stock valued at $604,000 after buying an additional 65 shares in the last quarter. Washington Trust Bank increased its stake in shares of CenturyLink by 1.6% in the third quarter. Washington Trust Bank now owns 4,672 shares of the company’s stock valued at $128,000 after buying an additional 75 shares in the last quarter. Synovus Financial Corp increased its stake in shares of CenturyLink by 0.5% in the second quarter. Synovus Financial Corp now owns 14,707 shares of the company’s stock valued at $429,000 after buying an additional 76 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV increased its stake in shares of CenturyLink by 0.7% in the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 17,249 shares of the company’s stock valued at $500,000 after buying an additional 125 shares in the last quarter. Finally, Carroll Financial Associates Inc. increased its stake in shares of CenturyLink by 2.1% in the second quarter. Carroll Financial Associates Inc. now owns 10,087 shares of the company’s stock valued at $292,000 after buying an additional 204 shares in the last quarter. 73.33% of the stock is currently owned by 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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