Analysts predict that Centurylink Inc (NYSE:CTL) will announce sales of $5.88 billion for the current quarter, Zacks reports. Six analysts have issued estimates for Centurylink’s earnings. The lowest sales estimate is $5.85 billion and the highest is $5.92 billion. Centurylink posted sales of $4.03 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 45.9%. The company is scheduled to announce its next earnings report on Wednesday, November 14th.
According to Zacks, analysts expect that Centurylink will report full-year sales of $23.57 billion for the current fiscal year, with estimates ranging from $23.42 billion to $23.69 billion. For the next financial year, analysts forecast that the business will report sales of $23.21 billion, with estimates ranging from $22.97 billion to $23.63 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Centurylink.
Centurylink (NYSE:CTL) last announced its quarterly earnings data on Wednesday, August 8th. The technology company reported $0.26 earnings per share (EPS) for the quarter, beating the Zacks’ 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 for the quarter, compared to analysts’ expectations of $5.92 billion. During the same period last year, the firm earned $0.46 earnings per share. The company’s revenue for the quarter was up 44.3% compared to the same quarter last year.
A number of analysts have recently weighed in on CTL shares. Jefferies Financial Group upgraded shares of Centurylink from a “hold” rating to a “buy” rating in a report on Tuesday, June 26th. TheStreet upgraded shares of Centurylink from a “c+” rating to a “b” rating in a report on Friday, July 6th. Zacks Investment Research lowered shares of Centurylink from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 24th. Bank of America set a $27.00 target price on shares of Centurylink and gave the stock a “buy” rating in a report on Wednesday, August 8th. Finally, Citigroup increased their target price on shares of Centurylink from $17.00 to $19.00 and gave the stock a “neutral” rating in a report on Thursday, August 9th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $21.24.
In other Centurylink news, Director Glen F. Post III sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $24.00, for a total value of $3,600,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.60% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Centurylink by 16,940.6% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,453 shares of the technology company’s stock valued at $102,000 after purchasing an additional 5,421 shares in the last quarter. Rehmann Capital Advisory Group increased its stake in shares of Centurylink by 210.7% during the second quarter. Rehmann Capital Advisory Group now owns 5,873 shares of the technology company’s stock valued at $109,000 after purchasing an additional 3,983 shares in the last quarter. Baker Ellis Asset Management LLC bought a new position in shares of Centurylink during the second quarter valued at approximately $110,000. AdvisorNet Financial Inc increased its stake in shares of Centurylink by 118.4% during the second quarter. AdvisorNet Financial Inc now owns 6,422 shares of the technology company’s stock valued at $120,000 after purchasing an additional 3,482 shares in the last quarter. Finally, Archford Capital Strategies LLC bought a new position in shares of Centurylink during the first quarter valued at approximately $130,000. Institutional investors and hedge funds own 76.98% of the company’s stock.
Shares of Centurylink stock traded up $0.16 during trading on Friday, reaching $20.89. 9,122,600 shares of the stock were exchanged, compared to its average volume of 10,865,356. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.60. The firm has a market cap of $22.75 billion, a P/E ratio of 14.46, a P/E/G ratio of -13.10 and a beta of 0.83. Centurylink has a 1 year low of $13.16 and a 1 year high of $24.20.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 14th. Shareholders of record on Friday, August 31st were issued a $0.54 dividend. The ex-dividend date was Thursday, August 30th. This represents a $2.16 annualized dividend and a yield of 10.34%. Centurylink’s dividend payout ratio (DPR) is presently 146.94%.
Centurylink Company Profile
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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