CIBC Asset Management Inc lessened its holdings in Centurylink Inc (NYSE:CTL) by 3.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 97,733 shares of the technology company’s stock after selling 3,556 shares during the period. CIBC Asset Management Inc’s holdings in Centurylink were worth $1,220,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in CTL. Coastal Investment Advisors Inc. boosted its holdings in Centurylink by 563.7% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 2,197 shares of the technology company’s stock worth $25,000 after buying an additional 1,866 shares during the last quarter. Cornerstone Advisors Inc. boosted its holdings in Centurylink by 68.7% in the 3rd quarter. Cornerstone Advisors Inc. now owns 2,058 shares of the technology company’s stock worth $26,000 after buying an additional 838 shares during the last quarter. Farmers & Merchants Investments Inc. boosted its holdings in Centurylink by 54.9% in the 3rd quarter. Farmers & Merchants Investments Inc. now owns 2,823 shares of the technology company’s stock worth $35,000 after buying an additional 1,000 shares during the last quarter. AGF Investments LLC acquired a new stake in Centurylink in the 2nd quarter worth about $38,000. Finally, NEXT Financial Group Inc boosted its holdings in Centurylink by 279.8% in the 2nd quarter. NEXT Financial Group Inc now owns 3,699 shares of the technology company’s stock worth $44,000 after buying an additional 2,725 shares during the last quarter. Hedge funds and other institutional investors own 73.51% of the company’s stock.
Several research firms recently issued reports on CTL. ValuEngine upgraded Centurylink from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Wells Fargo & Co set a $14.00 price objective on Centurylink and gave the stock a “buy” rating in a report on Monday, August 12th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Centurylink in a report on Friday, September 13th. Guggenheim cut Centurylink from a “neutral” rating to a “sell” rating and set a $10.00 price objective on the stock. in a report on Wednesday. Finally, Raymond James upgraded Centurylink from an “underperform” rating to a “market perform” rating in a report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $14.59.
Shares of Centurylink stock opened at $13.36 on Thursday. The stock has a market cap of $14.89 billion, a P/E ratio of 10.11, a P/E/G ratio of 0.98 and a beta of 0.86. The stock’s 50 day simple moving average is $12.45 and its 200-day simple moving average is $11.63. Centurylink Inc has a 1-year low of $9.64 and a 1-year high of $21.50. The company has a debt-to-equity ratio of 2.53, a current ratio of 0.60 and a quick ratio of 0.60.
Centurylink (NYSE:CTL) last issued its earnings results on Wednesday, August 7th. The technology company reported $0.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.03. The business had revenue of $5.58 billion for the quarter, compared to analysts’ expectations of $5.59 billion. Centurylink had a positive return on equity of 8.30% and a negative net margin of 34.77%. The business’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.27 EPS. As a group, research analysts expect that Centurylink Inc will post 1.35 EPS for the current fiscal year.
Centurylink Company Profile
CenturyLink, Inc provides various communications services to residential, business, wholesale, and governmental customers in the United States and internationally. The company operates in two segments, Business and Consumer. It offers VPN data network services; Ethernet services; Internet protocol (IP) services; facilities-based Prism TV service, as well as satellite digital television services; CDN services; and Vyvx broadcast services.
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