$0.46 EPS Expected for CenturyLink, Inc. (CTL) This Quarter
Brokerages forecast that CenturyLink, Inc. (NYSE:CTL) will report $0.46 earnings per share for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for CenturyLink’s earnings, with estimates ranging from $0.44 to $0.51. CenturyLink posted earnings per share of $0.56 in the same quarter last year, which would suggest a negative year over year growth rate of 17.9%. The business is expected to report its next earnings report on Monday, October 30th.
According to Zacks, analysts expect that CenturyLink will report full-year earnings of $1.97 per share for the current year, with EPS estimates ranging from $1.91 to $2.06. For the next year, analysts expect that the company will report earnings of $1.80 per share, with EPS estimates ranging from $1.27 to $2.09. Zacks’ earnings per share averages are an average based on a survey of research firms that that provide coverage for CenturyLink.
CenturyLink (NYSE:CTL) last released its earnings results on Wednesday, August 2nd. The technology company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by $0.03. The business 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 firm’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same period last year, the business posted $0.63 EPS.
Several research firms have recently issued reports on CTL. ValuEngine lowered CenturyLink from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Cowen and Company set a $25.00 price objective on CenturyLink and gave the stock a “market perform” rating in a report on Thursday, May 4th. Jefferies Group LLC reduced their price objective on CenturyLink from $26.00 to $23.00 and set a “hold” rating for the company in a report on Thursday, May 4th. Vetr upgraded CenturyLink from a “hold” rating to a “buy” rating and set a $27.12 price objective for the company in a report on Monday, May 1st. Finally, BidaskClub downgraded CenturyLink from a “buy” rating to a “hold” rating in a report on Tuesday, June 20th. Five investment analysts have rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. CenturyLink currently has a consensus rating of “Hold” and a consensus target price of $26.15.
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Shares of CenturyLink (NYSE:CTL) traded down 0.53% during mid-day trading on Tuesday, reaching $20.63. 7,799,660 shares of the company’s stock were exchanged. CenturyLink has a 52-week low of $18.41 and a 52-week high of $33.45. The company has a market cap of $11.34 billion, a PE ratio of 29.90 and a beta of 0.87. The company’s 50-day moving average price is $22.08 and its 200 day moving average price is $23.93.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, September 5th will be issued a dividend of $0.54 per share. The ex-dividend date is Thursday, August 31st. This represents a $2.16 annualized dividend and a dividend yield of 10.47%. CenturyLink’s dividend payout ratio (DPR) is 313.04%.
Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of CenturyLink by 22.6% in the second quarter. Vanguard Group Inc. now owns 57,351,163 shares of the technology company’s stock valued at $1,369,547,000 after buying an additional 10,583,246 shares during the period. State Street Corp boosted its stake in shares of CenturyLink by 1.0% in the first quarter. State Street Corp now owns 31,157,907 shares of the technology company’s stock valued at $734,384,000 after buying an additional 293,702 shares during the period. American International Group Inc. boosted its stake in shares of CenturyLink by 1.4% in the first quarter. American International Group Inc. now owns 15,944,716 shares of the technology company’s stock valued at $375,817,000 after buying an additional 214,210 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of CenturyLink by 3.2% in the second quarter. Dimensional Fund Advisors LP now owns 9,689,431 shares of the technology company’s stock valued at $231,404,000 after buying an additional 301,671 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of CenturyLink by 1.4% in the second quarter. Northern Trust Corp now owns 6,978,167 shares of the technology company’s stock valued at $166,639,000 after buying an additional 95,821 shares during the period. 83.00% 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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