Insider Buying: CenturyLink Inc. (CTL) Director Buys $999,380.00 in Stock
CenturyLink Inc. (NYSE:CTL) Director William Arthur Owens bought 42,800 shares of the firm’s stock in a transaction that occurred on Monday, November 7th. The stock was purchased at an average price of $23.35 per share, with a total value of $999,380.00. Following the completion of the purchase, the director now owns 95,275 shares in the company, valued at $2,224,671.25. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Shares of CenturyLink Inc. (NYSE:CTL) opened at 23.80 on Monday. The company has a 50 day moving average of $26.83 and a 200-day moving average of $28.29. The stock has a market cap of $13.01 billion, a price-to-earnings ratio of 14.02 and a beta of 0.84. CenturyLink Inc. has a one year low of $21.94 and a one year high of $33.45.
CenturyLink (NYSE:CTL) last released its earnings results on Wednesday, November 2nd. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. CenturyLink had a return on equity of 10.48% and a net margin of 5.22%. The company earned $4.38 billion during the quarter. During the same period last year, the business posted $0.70 EPS. CenturyLink’s revenue was down 3.8% compared to the same quarter last year. On average, analysts anticipate that CenturyLink Inc. will post $2.47 earnings per share for the current year.
A number of equities analysts have weighed in on the stock. Morgan Stanley cut shares of CenturyLink from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $31.00 to $27.00 in a research report on Monday, July 18th. Zacks Investment Research cut shares of CenturyLink from a “hold” rating to a “sell” rating in a research report on Tuesday, October 4th. Vetr upgraded shares of CenturyLink from a “hold” rating to a “buy” rating and set a $29.33 price objective for the company in a research report on Wednesday, August 31st. Jefferies Group restated a “sell” rating on shares of CenturyLink in a research report on Friday, September 2nd. Finally, Royal Bank Of Canada upped their price objective on shares of CenturyLink from $29.00 to $31.00 and gave the stock a “sector perform” rating in a research report on Monday, August 8th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $28.26.
Large investors have recently added to or reduced their stakes in the stock. FUKOKU MUTUAL LIFE INSURANCE Co increased 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. Exane Derivatives acquired a new stake in CenturyLink during the third quarter worth approximately $123,000. Washington Trust Bank increased 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. Bellwether Investment Group LLC acquired a new stake in CenturyLink during the second quarter worth approximately $134,000. Finally, Global X Management Co. LLC increased its stake in CenturyLink by 95.2% in the third quarter. Global X Management Co. LLC now owns 4,765 shares of the company’s stock worth $131,000 after buying an additional 2,324 shares during the period. 73.62% of the stock is owned by institutional investors.
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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