CenturyLink Inc. (CTL) Bond Prices Fall 0.8%
An issue of CenturyLink Inc. (NYSE:CTL) debt fell 0.8% as a percentage of its face value during trading on Monday. The high-yield issue of debt has a 6.75% coupon and will mature on December 1, 2023. The debt is now trading at $104.56 and was trading at $104.05 one week ago. Price changes in a company’s debt in credit markets sometimes predict parallel changes in its share price.
A number of research analysts have recently issued reports on CTL shares. Vetr upgraded shares of CenturyLink from a “hold” rating to a “buy” rating and set a $29.33 price target on the stock in a research report on Wednesday, August 31st. Macquarie started coverage on shares of CenturyLink in a research report on Monday, July 11th. They issued a “neutral” rating and a $31.00 price target on the stock. Jefferies Group restated a “sell” rating on shares of CenturyLink in a research report on Friday, September 2nd. Evercore ISI started coverage on shares of CenturyLink in a research report on Tuesday, June 21st. They issued a “hold” rating and a $28.00 price target on the stock. Finally, RBC Capital Markets restated a “sector perform” rating and issued a $31.00 price target (up previously from $29.00) on shares of CenturyLink in a research report on Wednesday, August 10th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $28.37.
Shares of CenturyLink Inc. (NYSE:CTL) opened at 27.52 on Tuesday. The company has a market cap of $15.03 billion, a price-to-earnings ratio of 15.41 and a beta of 0.80. The stock has a 50 day moving average of $28.07 and a 200 day moving average of $29.30. CenturyLink Inc. has a 1-year low of $21.94 and a 1-year high of $32.94.
CenturyLink (NYSE:CTL) last released 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. The firm earned $440 billion during the quarter, compared to analyst estimates of $4.39 billion. CenturyLink had a return on equity of 11.02% and a net margin of 5.47%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.55 earnings per share. On average, equities analysts forecast that CenturyLink Inc. will post $2.53 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, September 2nd were paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 7.85%. The ex-dividend date of this dividend was Wednesday, August 31st. CenturyLink’s dividend payout ratio (DPR) is presently 120.67%.
In other news, Director Harvey P. Perry sold 20,000 shares of the stock in a transaction that occurred on Wednesday, July 13th. The stock was sold at an average price of $31.00, for a total transaction of $620,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.61% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC bought a new stake in CenturyLink during the first quarter worth $109,000. Bessemer Group Inc. raised its stake in CenturyLink by 44.5% in the first quarter. Bessemer Group Inc. now owns 3,450 shares of the company’s stock worth $110,000 after buying an additional 1,062 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co raised its stake in CenturyLink by 14.7% in the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 3,892 shares of the company’s stock worth $113,000 after buying an additional 500 shares during the period. Washington Trust Bank raised its stake in CenturyLink by 13.8% in the second quarter. Washington Trust Bank now owns 4,597 shares of the company’s stock worth $133,000 after buying an additional 558 shares during the period. Finally, Bellwether Investment Group LLC bought a new stake in CenturyLink during the second quarter worth $134,000. 73.33% of the stock is owned by hedge funds and other institutional investors.
CenturyLink Company Profile
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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