CenturyLink, Inc. (NYSE:CTL) Announces Quarterly Earnings Results
CenturyLink, Inc. (NYSE:CTL) released its earnings results on Wednesday. The technology company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.49 by $0.03, Briefing.com reports. CenturyLink had a net margin of 2.20% and a return on equity of 8.36%. The firm had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.09 billion. During the same period in the prior year, the business earned $0.63 earnings per share. CenturyLink’s quarterly revenue was down 7.0% compared to the same quarter last year. CenturyLink updated its Q3 guidance to $0.44-0.50 EPS.
CenturyLink (NYSE:CTL) traded up 0.914% on Friday, reaching $22.645. 5,086,106 shares of the company’s stock traded hands. CenturyLink has a 12 month low of $22.26 and a 12 month high of $33.45. The firm’s 50-day moving average is $23.98 and its 200 day moving average is $24.49. The firm has a market cap of $12.26 billion, a PE ratio of 32.819 and a beta of 0.87.
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A number of research firms have recently weighed in on CTL. UBS AG set a $29.00 price target on shares of CenturyLink and gave the company a “buy” rating in a research note on Thursday, June 22nd. BidaskClub upgraded shares of CenturyLink from a “sell” rating to a “hold” rating in a research note on Monday. Royal Bank Of Canada restated a “hold” rating and issued a $25.00 price target on shares of CenturyLink in a research note on Thursday, May 25th. ValuEngine downgraded shares of CenturyLink from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Cowen and Company set a $25.00 price target on shares of CenturyLink and gave the company a “market perform” rating in a research note on Thursday, May 4th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $26.22.
A number of hedge funds have recently modified their holdings of CTL. Thrivent Financial for Lutherans raised its stake in CenturyLink by 5.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 19,062 shares of the technology company’s stock worth $454,000 after buying an additional 1,067 shares during the period. UBS Asset Management Americas Inc. raised its stake in CenturyLink by 10.0% in the fourth quarter. UBS Asset Management Americas Inc. now owns 2,036,768 shares of the technology company’s stock worth $48,434,000 after buying an additional 185,251 shares during the period. Teachers Advisors LLC raised its stake in CenturyLink by 1.8% in the fourth quarter. Teachers Advisors LLC now owns 1,224,363 shares of the technology company’s stock worth $29,115,000 after buying an additional 21,072 shares during the period. Kentucky Retirement Systems bought a new stake in CenturyLink during the fourth quarter worth $943,000. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new stake in CenturyLink during the fourth quarter worth $421,000. 77.53% 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 its residential and business customers. Its segments include business, which provides strategic, legacy and data integration products and services to small, medium and enterprise business, wholesale and governmental customers, including other communication providers, and consumer, which provides strategic and legacy products and services to residential customers.
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