Centurylink Inc (NYSE:CTL) shares traded down 8.1% during trading on Tuesday . The company traded as low as $20.90 and last traded at $21.05. 29,011,200 shares changed hands during trading, an increase of 167% from the average session volume of 10,849,841 shares. The stock had previously closed at $22.90.
A number of research analysts have recently commented on the company. Cowen set a $20.00 price objective on Centurylink and gave the company a “hold” rating in a report on Tuesday. Hanson lowered Centurylink from a “neutral” rating to a “sell” rating and set a $19.00 price objective on the stock. in a report on Wednesday, August 22nd. Moffett Nathanson reissued a “sell” rating and set a $23.00 price objective on shares of Centurylink in a report on Wednesday, August 22nd. Royal Bank of Canada increased their price objective on Centurylink to $27.00 and gave the company an “outperform” rating in a report on Thursday, August 16th. Finally, ValuEngine raised Centurylink from a “hold” rating to a “buy” rating in a report on Wednesday, August 15th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $21.24.
The company has a market cap of $22.75 billion, a price-to-earnings ratio of 14.29, a P/E/G ratio of -13.10 and a beta of 0.83. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.98 and a quick ratio of 0.98.
Centurylink (NYSE:CTL) last announced its earnings results on Wednesday, August 8th. The technology company reported $0.26 earnings per share for the quarter, beating the 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 firm had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $5.92 billion. During the same quarter in the prior year, the company earned $0.46 EPS. The firm’s revenue for the quarter was up 44.3% compared to the same quarter last year. equities analysts forecast that Centurylink Inc will post 1.07 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 14th. Investors of record on Friday, August 31st were paid a dividend of $0.54 per share. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $2.16 annualized dividend and a yield of 10.22%. Centurylink’s payout ratio is 146.94%.
In related news, Director Glen F. Post III sold 150,000 shares of the stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $22.00, for a total transaction of $3,300,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.60% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions in CTL. Neuberger Berman Group LLC lifted its position in shares of Centurylink by 544.4% in the 1st quarter. Neuberger Berman Group LLC now owns 662,872 shares of the technology company’s stock worth $10,916,000 after acquiring an additional 560,010 shares during the period. Cambridge Investment Research Advisors Inc. lifted its position in shares of Centurylink by 7.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 98,767 shares of the technology company’s stock worth $1,623,000 after acquiring an additional 6,738 shares during the period. Cetera Advisors LLC lifted its position in shares of Centurylink by 21.6% in the 1st quarter. Cetera Advisors LLC now owns 16,029 shares of the technology company’s stock worth $264,000 after acquiring an additional 2,849 shares during the period. Toronto Dominion Bank lifted its position in shares of Centurylink by 23.1% in the 1st quarter. Toronto Dominion Bank now owns 552,876 shares of the technology company’s stock worth $9,081,000 after acquiring an additional 103,914 shares during the period. Finally, Natixis Advisors L.P. lifted its position in shares of Centurylink by 115.2% in the 1st quarter. Natixis Advisors L.P. now owns 168,477 shares of the technology company’s stock worth $2,768,000 after acquiring an additional 90,173 shares during the period. Institutional investors own 76.98% of the company’s stock.
Centurylink Company Profile (NYSE:CTL)
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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