FY2016 EPS Estimates for CenturyLink Inc. Raised by Analyst (CTL)
CenturyLink Inc. (NYSE:CTL) – Jefferies Group boosted their FY2016 earnings per share (EPS) estimates for CenturyLink in a report issued on Tuesday. Jefferies Group analyst M. Mccormack now forecasts that the brokerage will post earnings of $2.51 per share for the year, up from their prior estimate of $2.49. Jefferies Group currently has a “Sell” rating on the stock. Jefferies Group also issued estimates for CenturyLink’s Q4 2016 earnings at $0.61 EPS and FY2017 earnings at $2.41 EPS.
Several other brokerages also recently issued reports on CTL. Morgan Stanley downgraded CenturyLink from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $31.00 to $27.00 in a research report on Monday, July 18th. Vetr upgraded CenturyLink from a “sell” rating to a “hold” rating and set a $29.67 price objective on the stock in a research report on Tuesday, July 12th. Zacks Investment Research downgraded CenturyLink from a “buy” rating to a “hold” rating in a research report on Friday, August 5th. Macquarie began coverage on CenturyLink in a research report on Monday, July 11th. They issued a “neutral” rating and a $31.00 price objective on the stock. Finally, RBC Capital Markets restated a “sector perform” rating and issued a $31.00 price objective (up from $29.00) on shares of CenturyLink in a research report on Wednesday, August 10th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $28.44.
CenturyLink (NYSE:CTL) opened at 27.34 on Thursday. CenturyLink has a 52-week low of $21.94 and a 52-week high of $32.94. The firm has a market capitalization of $14.93 billion, a P/E ratio of 15.31 and a beta of 0.80. The firm has a 50-day moving average price of $27.60 and a 200 day moving average price of $29.09.
CenturyLink (NYSE:CTL) last released its earnings results on Wednesday, August 3rd. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.04. The company earned $440 billion during the quarter, compared to the consensus estimate of $4.39 billion. CenturyLink had a return on equity of 11.02% and a net margin of 5.47%. CenturyLink’s revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.55 EPS.
Several institutional investors have recently added to or reduced their stakes in the company. Charter Trust Co. raised its stake in CenturyLink by 4.3% in the third quarter. Charter Trust Co. now owns 18,622 shares of the company’s stock worth $510,000 after buying an additional 769 shares during the period. National Pension Service raised its stake in CenturyLink by 9.4% in the third quarter. National Pension Service now owns 413,203 shares of the company’s stock worth $11,334,000 after buying an additional 35,578 shares during the period. Cornerstone Investment Partners LLC raised its stake in CenturyLink by 19.7% in the third quarter. Cornerstone Investment Partners LLC now owns 42,904 shares of the company’s stock worth $1,177,000 after buying an additional 7,055 shares during the period. Private Bank & Trust Co. bought a new stake in CenturyLink during the third quarter worth about $601,000. Finally, MSI Financial Services Inc raised its stake in CenturyLink by 2.2% in the third quarter. MSI Financial Services Inc now owns 28,870 shares of the company’s stock worth $792,000 after buying an additional 608 shares during the period. Institutional investors own 73.33% of the company’s stock.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, September 2nd were issued a $0.54 dividend. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $2.16 dividend on an annualized basis and a dividend yield of 7.90%. CenturyLink’s dividend payout ratio (DPR) is 120.67%.
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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