CenturyLink Inc. (CTL) Bonds Drop 3.4% During Trading
An issue of CenturyLink Inc. (NYSE:CTL) bonds fell 3.4% as a percentage of their face value during trading on Tuesday. The high-yield debt issue has a 7.5% coupon and will mature on April 1, 2024. The debt is now trading at $100.75 and was trading at $103.00 last week. Price moves in a company’s bonds in credit markets often predict parallel moves in its stock price.
A number of equities analysts recently commented on CTL shares. Zacks Investment Research downgraded CenturyLink from a “hold” rating to a “sell” rating in a report on Tuesday, October 4th. Vetr upgraded CenturyLink from a “hold” rating to a “buy” rating and set a $29.33 target price for the company in a report on Wednesday, August 31st. Jefferies Group reiterated a “sell” rating on shares of CenturyLink in a report on Friday, September 2nd. Royal Bank Of Canada increased their price objective on CenturyLink from $29.00 to $31.00 and gave the stock a “sector perform” rating in a report on Monday, August 8th. Finally, Raymond James Financial Inc. downgraded CenturyLink from an “outperform” rating to a “market perform” rating in a report on Friday, October 28th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company’s stock. CenturyLink currently has a consensus rating of “Hold” and an average target price of $28.26.
CenturyLink Inc. (NYSE:CTL) opened at 24.52 on Thursday. The stock has a market capitalization of $13.40 billion, a price-to-earnings ratio of 14.45 and a beta of 0.84. The company has a 50-day moving average price of $26.59 and a 200-day moving average price of $28.12. CenturyLink Inc. has a 12-month low of $21.94 and a 12-month high of $33.45.
CenturyLink (NYSE:CTL) last posted its quarterly earnings data on Wednesday, November 2nd. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. The company earned $4.38 billion during the quarter. CenturyLink had a net margin of 5.22% and a return on equity of 10.48%. The business’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.70 earnings per share. On average, equities research analysts forecast that CenturyLink Inc. will post $2.48 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 12th. Shareholders of record on Monday, November 28th will be given a $0.54 dividend. The ex-dividend date of this dividend is Wednesday, November 23rd. This represents a $2.16 dividend on an annualized basis and a yield of 8.81%. CenturyLink’s payout ratio is currently 127.06%.
In other CenturyLink news, EVP David D. Cole sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 27th. The shares were sold at an average price of $33.00, for a total value of $990,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Aamir Hussain purchased 14,580 shares of the company’s stock in a transaction on Thursday, November 10th. The stock was purchased at an average price of $24.00 per share, for a total transaction of $349,920.00. Following the purchase, the executive vice president now directly owns 179,075 shares of the company’s stock, valued at approximately $4,297,800. The disclosure for this purchase can be found here. 0.61% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in the stock. Wellington Management Group LLP raised its stake in shares of CenturyLink by 687.6% in the first quarter. Wellington Management Group LLP now owns 375,065 shares of the company’s stock valued at $11,986,000 after buying an additional 327,445 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in CenturyLink by 21.0% in the first quarter. Envestnet Asset Management Inc. now owns 66,764 shares of the company’s stock valued at $2,134,000 after buying an additional 11,584 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in CenturyLink during the first quarter valued at about $1,512,000. Springbok Capital Management LLC bought a new position in CenturyLink during the first quarter valued at about $340,000. Finally, A.R.T. Advisors LLC boosted its position in CenturyLink by 12.8% in the first quarter. A.R.T. Advisors LLC now owns 80,373 shares of the company’s stock valued at $2,568,000 after buying an additional 9,100 shares during the period. Institutional investors own 73.62% of the company’s stock.
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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