FY2017 EPS Estimates for CenturyLink, Inc. Cut by Analyst (CTL)
CenturyLink, Inc. (NYSE:CTL) – Analysts at Gabelli reduced their FY2017 earnings per share estimates for CenturyLink in a report released on Wednesday. Gabelli analyst S. Dluzhevskiy now expects that the technology company will earn $2.00 per share for the year, down from their prior forecast of $2.20.
CenturyLink (NYSE:CTL) last announced its earnings results on Wednesday, August 2nd. The technology company reported $0.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by $0.03. CenturyLink had a net margin of 2.20% and a return on equity of 8.43%. The firm had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.09 billion. During the same period in the prior year, the business earned $0.63 EPS. The company’s quarterly revenue was down 7.0% compared to the same quarter last year.
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Other research analysts have also issued reports about the company. Bank of America Corporation reaffirmed a “buy” rating on shares of CenturyLink in a research report on Tuesday, May 9th. Vetr raised CenturyLink from a “hold” rating to a “buy” rating and set a $27.12 target price for the company in a research report on Monday, May 1st. Zacks Investment Research raised CenturyLink from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a research report on Wednesday, April 26th. UBS AG set a $29.00 target price on CenturyLink and gave the stock a “buy” rating in a research report on Thursday, June 22nd. Finally, ValuEngine raised CenturyLink from a “hold” rating to a “buy” rating in a research report on Friday, August 18th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $26.15.
CenturyLink (NYSE:CTL) opened at 20.38 on Thursday. The company’s 50-day moving average price is $22.28 and its 200 day moving average price is $23.99. CenturyLink has a 52 week low of $18.41 and a 52 week high of $33.45. The company has a market cap of $11.20 billion, a PE ratio of 29.54 and a beta of 0.87. CenturyLink also was the target of unusually large options trading on Tuesday. Investors purchased 13,185 call options on the stock. This is an increase of 126% compared to the typical volume of 5,842 call options.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, September 5th will be paid a $0.54 dividend. The ex-dividend date is Thursday, August 31st. This represents a $2.16 annualized dividend and a dividend yield of 10.60%. CenturyLink’s dividend payout ratio is presently 313.04%.
Hedge funds have recently modified their holdings of the stock. Macquarie Group Ltd. increased its stake in shares of CenturyLink by 69.8% in the fourth quarter. Macquarie Group Ltd. now owns 44,100 shares of the technology company’s stock valued at $1,049,000 after buying an additional 18,124 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of CenturyLink during the first quarter valued at approximately $200,000. Candriam Luxembourg S.C.A. increased its stake in shares of CenturyLink by 5.5% in the first quarter. Candriam Luxembourg S.C.A. now owns 143,105 shares of the technology company’s stock valued at $3,373,000 after buying an additional 7,406 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its stake in shares of CenturyLink by 2.9% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 14,399 shares of the technology company’s stock valued at $317,000 after buying an additional 402 shares in the last quarter. Finally, First Manhattan Co. increased its stake in shares of CenturyLink by 1.8% in the first quarter. First Manhattan Co. now owns 37,218 shares of the technology company’s stock valued at $1,020,000 after buying an additional 645 shares in the last quarter. Institutional investors own 77.77% of the company’s stock.
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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