Morgan Stanley Trims CenturyLink, Inc. (CTL) Target Price to $26.00
CenturyLink, Inc. (NYSE:CTL) had its price objective decreased by equities research analysts at Morgan Stanley from $27.00 to $26.00 in a research report issued on Wednesday, MarketBeat reports. The brokerage currently has an “overweight” rating on the technology company’s stock. Morgan Stanley’s price objective points to a potential upside of 28.52% from the company’s current price.
CTL has been the topic of several other research reports. Vetr upgraded CenturyLink from a “buy” rating to a “strong-buy” rating and set a $27.12 target price on the stock in a research note on Monday, May 8th. Zacks Investment Research upgraded CenturyLink from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a research note on Wednesday, April 26th. Cowen and Company boosted their target price on CenturyLink from $25.00 to $27.00 and gave the company a “market perform” rating in a research note on Wednesday, July 5th. BidaskClub cut CenturyLink from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Finally, Raymond James Financial, Inc. restated an “underperform” rating on shares of CenturyLink in a research note on Monday, May 15th. Five equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. CenturyLink currently has an average rating of “Hold” and a consensus target price of $26.15.
CenturyLink (CTL) traded up 0.85% during midday trading on Wednesday, reaching $20.23. 6,529,342 shares of the company were exchanged. The stock has a market capitalization of $11.12 billion, a price-to-earnings ratio of 29.32 and a beta of 0.87. CenturyLink has a 52-week low of $18.41 and a 52-week high of $33.45. The firm’s 50-day moving average price is $22.18 and its 200 day moving average price is $23.97. CenturyLink also was the recipient of some unusual options trading on Tuesday. Stock traders bought 13,185 call options on the stock. This represents an increase of approximately 126% compared to the average volume of 5,842 call options.
CenturyLink (NYSE:CTL) last released its earnings results on Wednesday, August 2nd. The technology company reported $0.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by $0.03. The firm had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.09 billion. CenturyLink had a net margin of 2.20% and a return on equity of 8.43%. The company’s revenue was down 7.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.63 EPS. Equities analysts predict that CenturyLink will post $1.95 earnings per share for the current year.
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Hedge funds and other institutional investors have recently bought and sold shares of the company. Macquarie Group Ltd. raised its position in CenturyLink by 69.8% in the fourth quarter. Macquarie Group Ltd. now owns 44,100 shares of the technology company’s stock worth $1,049,000 after buying an additional 18,124 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in CenturyLink during the first quarter worth $200,000. Candriam Luxembourg S.C.A. raised its position in CenturyLink by 5.5% in the first quarter. Candriam Luxembourg S.C.A. now owns 143,105 shares of the technology company’s stock worth $3,373,000 after buying an additional 7,406 shares during the last quarter. Mn Services Vermogensbeheer B.V. raised its position in CenturyLink by 2.9% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 14,399 shares of the technology company’s stock worth $317,000 after buying an additional 402 shares during the last quarter. Finally, First Manhattan Co. raised its position in CenturyLink by 1.8% in the first quarter. First Manhattan Co. now owns 37,218 shares of the technology company’s stock worth $1,020,000 after buying an additional 645 shares during the last quarter. 77.77% of the stock is currently owned by institutional investors and hedge funds.
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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