CenturyLink Inc. (CTL) Debt Trading 2.8% Higher
An issue of CenturyLink Inc. (NYSE:CTL) debt rose 2.8% as a percentage of its face value during trading on Monday. The debt issue has a 7.65% coupon and will mature on March 15, 2042. The debt is now trading at $89.25 and was trading at $87.06 last week. Price moves in a company’s debt in credit markets sometimes predict parallel moves in its stock price.
Several equities analysts recently commented on CTL shares. Vetr upgraded CenturyLink from a “hold” rating to a “buy” rating and set a $29.33 price objective on the stock in a research note on Wednesday, August 31st. Evercore ISI started coverage on CenturyLink in a research note on Tuesday, June 21st. They issued a “hold” rating and a $28.00 price objective on the stock. Zacks Investment Research downgraded CenturyLink from a “buy” rating to a “hold” rating in a research note on Friday, August 5th. Macquarie reiterated a “neutral” rating and issued a $30.00 price objective (down previously from $31.00) on shares of CenturyLink in a research note on Tuesday, September 13th. Finally, RBC Capital Markets reiterated a “sector perform” rating and issued a $31.00 price objective (up previously from $29.00) on shares of CenturyLink in a research note on Wednesday, August 10th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $28.37.
CenturyLink Inc. (NYSE:CTL) opened at 27.84 on Tuesday. The company has a market cap of $15.20 billion, a PE ratio of 15.59 and a beta of 0.80. CenturyLink Inc. has a 1-year low of $21.94 and a 1-year high of $32.94. The company has a 50-day moving average price of $27.78 and a 200-day moving average price of $29.15.
CenturyLink (NYSE:CTL) last posted its earnings results 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 business earned $440 billion during the quarter, compared to the consensus estimate of $4.39 billion. During the same quarter in the previous year, the firm posted $0.55 EPS. The firm’s revenue was down .5% on a year-over-year basis. On average, analysts expect that CenturyLink Inc. will post $2.53 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, September 2nd were given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 7.76%. The ex-dividend date was Wednesday, August 31st. CenturyLink’s dividend payout ratio (DPR) is presently 120.67%.
In other CenturyLink news, Director Harvey P. Perry sold 20,000 shares of CenturyLink stock in a transaction that occurred on Wednesday, July 13th. The shares were sold at an average price of $31.00, for a total value of $620,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.61% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the company. Acrospire Investment Management LLC acquired a new stake in shares of CenturyLink during the first quarter worth about $109,000. Bessemer Group Inc. increased its stake in shares of 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 last quarter. FUKOKU MUTUAL LIFE INSURANCE Co increased its stake in shares of 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 last quarter. Washington Trust Bank increased its stake in shares of CenturyLink by 1.6% in the third quarter. Washington Trust Bank now owns 4,672 shares of the company’s stock worth $128,000 after buying an additional 75 shares during the last quarter. Finally, Bellwether Investment Group LLC acquired a new stake in shares of CenturyLink during the second quarter worth about $134,000. 73.33% of the stock is owned by institutional investors and hedge funds.
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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