CenturyLink Inc. (CTL) Bonds Drop 0.8% During Trading
An issue of CenturyLink Inc. (NYSE:CTL) debt fell 0.8% as a percentage of its face value during trading on Wednesday. The high-yield debt issue has a 7.65% coupon and will mature on March 15, 2042. The debt is now trading at $85.25 and was trading at $88.50 last week. Price moves in a company’s debt in credit markets often anticipate parallel moves in its share price.
CTL has been the topic of a number of recent analyst reports. Vetr upgraded CenturyLink from a “hold” rating to a “buy” rating and set a $29.33 target price on the stock in a research report on Wednesday, August 31st. Zacks Investment Research cut CenturyLink from a “buy” rating to a “hold” rating in a research report on Friday, August 5th. Raymond James Financial Inc. cut CenturyLink from an “outperform” rating to a “market perform” rating in a research report on Friday, October 28th. Macquarie reiterated a “neutral” rating and issued a $30.00 target price (down previously from $31.00) on shares of CenturyLink in a research report on Tuesday, September 13th. Finally, Oppenheimer Holdings Inc. upgraded CenturyLink from a “market perform” rating to an “outperform” rating and set a $30.00 target price on the stock in a research report on Tuesday, November 8th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $28.26.
CenturyLink Inc. (NYSE:CTL) opened at 24.26 on Friday. The firm has a market capitalization of $13.26 billion, a price-to-earnings ratio of 14.30 and a beta of 0.84. CenturyLink Inc. has a 52 week low of $21.94 and a 52 week high of $33.45. The firm has a 50-day moving average price of $26.50 and a 200 day moving average price of $28.09.
CenturyLink (NYSE:CTL) last issued its quarterly earnings data on Wednesday, November 2nd. The company reported $0.56 earnings per share (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 business had revenue of $4.38 billion for the quarter. During the same quarter last year, the company earned $0.70 earnings per share. The company’s revenue for the quarter was down 3.8% on a year-over-year basis. On average, equities research analysts forecast that CenturyLink Inc. will post $2.48 earnings per share for the current fiscal year.
The business 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 dividend of $0.54 per share. The ex-dividend date is Wednesday, November 23rd. This represents a $2.16 dividend on an annualized basis and a yield of 8.90%. CenturyLink’s dividend payout ratio (DPR) is presently 127.06%.
In other CenturyLink news, Director Harvey P. Perry sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, October 27th. The stock was sold at an average price of $32.50, for a total transaction of $325,000.00. Following the sale, the director now directly owns 77,607 shares in the company, valued at $2,522,227.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Aamir Hussain acquired 14,580 shares of the firm’s stock in a transaction on Thursday, November 10th. The shares were bought at an average price of $24.00 per share, for a total transaction of $349,920.00. Following the completion of the transaction, the executive vice president now owns 179,075 shares of the company’s stock, valued at $4,297,800. The disclosure for this purchase can be found here. Company insiders own 0.61% of the company’s stock.
Large investors have recently modified their holdings of the stock. FUKOKU MUTUAL LIFE INSURANCE Co boosted its position 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 in the last quarter. Exane Derivatives acquired a new position in CenturyLink during the third quarter worth approximately $123,000. Washington Trust Bank boosted its position in 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 in the last quarter. Global X Management Co. LLC boosted its position 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 in the last quarter. Finally, Bellwether Investment Group LLC acquired a new position in CenturyLink during the second quarter worth approximately $134,000. Institutional investors and hedge funds 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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