CenturyLink Inc. (NYSE:CTL) – Equities researchers at Jefferies Group reduced their Q3 2016 earnings per share (EPS) estimates for shares of CenturyLink in a research note issued on Tuesday. Jefferies Group analyst M. Mccormack now forecasts that the firm will post earnings per share of $0.55 for the quarter, down from their previous estimate of $0.57. Jefferies Group has a “Sell” rating on the stock.
CenturyLink (NYSE:CTL) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. CenturyLink had a net margin of 5.47% and a return on equity of 11.02%. The firm earned $440 billion during the quarter, compared to analyst estimates of $4.39 billion. During the same quarter last year, the business posted $0.55 EPS. The company’s revenue was down .5% on a year-over-year basis.
A number of other equities research analysts also recently weighed in on CTL. Evercore ISI started coverage on shares of CenturyLink in a research note on Tuesday, June 21st. They set a “hold” rating and a $28.00 price target for the company. Vetr raised shares of CenturyLink from a “strong sell” rating to a “hold” rating and set a $29.00 price target for the company in a research note on Wednesday, July 6th. Macquarie started coverage on shares of CenturyLink in a research note on Monday, July 11th. They set a “neutral” rating and a $31.00 price target for the company. Morgan Stanley downgraded shares of CenturyLink from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $31.00 to $27.00 in a research note on Monday, July 18th. Finally, Zacks Investment Research downgraded shares of CenturyLink from a “buy” rating to a “hold” rating in a research note on Friday, August 5th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $28.37.
CenturyLink (NYSE:CTL) opened at 27.57 on Wednesday. CenturyLink has a 1-year low of $21.94 and a 1-year high of $32.94. The company has a 50-day moving average of $27.70 and a 200-day moving average of $29.13. The firm has a market cap of $15.05 billion, a price-to-earnings ratio of 15.44 and a beta of 0.80.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC boosted its position in CenturyLink by 36.3% in the first quarter. Lazard Asset Management LLC now owns 79,485 shares of the company’s stock valued at $2,540,000 after buying an additional 21,175 shares during the period. Meeder Asset Management Inc. boosted its position in CenturyLink by 857.0% in the first quarter. Meeder Asset Management Inc. now owns 44,969 shares of the company’s stock valued at $1,437,000 after buying an additional 40,270 shares during the period. State Street Corp boosted its position in CenturyLink by 0.6% in the first quarter. State Street Corp now owns 30,716,866 shares of the company’s stock valued at $981,706,000 after buying an additional 171,326 shares during the period. BB&T Securities LLC boosted its position in CenturyLink by 4.6% in the first quarter. BB&T Securities LLC now owns 38,970 shares of the company’s stock valued at $1,245,000 after buying an additional 1,722 shares during the period. Finally, OMERS ADMINISTRATION Corp bought a new position in CenturyLink during the first quarter valued at $5,363,000. Institutional investors own 73.33% of the company’s stock.
The business also recently declared 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 7.83%. The ex-dividend date of this dividend was Wednesday, August 31st. CenturyLink’s dividend payout ratio (DPR) is presently 120.67%.
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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