CenturyLink, Inc. (CTL) Expected to Post Quarterly Sales of $4.07 Billion
Analysts expect CenturyLink, Inc. (NYSE:CTL) to report $4.07 billion in sales for the current quarter, according to Zacks Investment Research. Seven analysts have made estimates for CenturyLink’s earnings, with the lowest sales estimate coming in at $4.06 billion and the highest estimate coming in at $4.11 billion. CenturyLink reported sales of $4.38 billion during the same quarter last year, which suggests a negative year-over-year growth rate of 7.1%. The company is scheduled to announce its next quarterly earnings report on Monday, October 30th.
On average, analysts expect that CenturyLink will report full year sales of $4.07 billion for the current fiscal year, with estimates ranging from $16.40 billion to $16.51 billion. For the next fiscal year, analysts anticipate that the company will report sales of $16.02 billion per share, with estimates ranging from $15.79 billion to $16.20 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow CenturyLink.
CenturyLink (NYSE:CTL) last announced its earnings results on Wednesday, August 2nd. The technology company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by $0.03. The firm had revenue of $4.09 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.63 EPS.
Several equities analysts recently commented on the stock. Bank of America Corporation reiterated a “buy” rating on shares of CenturyLink in a research note on Tuesday, May 9th. UBS AG set a $29.00 price target on shares of CenturyLink and gave the company a “buy” rating in a report on Thursday, June 22nd. ValuEngine raised shares of CenturyLink from a “hold” rating to a “buy” rating in a report on Friday, August 18th. BidaskClub lowered shares of CenturyLink from a “buy” rating to a “hold” rating in a report on Tuesday, June 20th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $25.00 target price on shares of CenturyLink in a report on Thursday, May 25th. Five research analysts have rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $26.15.
Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position 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. Capital World Investors purchased a new position in shares of CenturyLink during the second quarter worth $142,086,000. Standard Life Investments LTD purchased a new position in shares of CenturyLink during the second quarter worth $112,613,000. Fiduciary Management Inc. WI purchased a new position in shares of CenturyLink during the second quarter worth $86,411,000. Finally, Wells Fargo & Company MN raised its position in shares of CenturyLink by 150.5% in the first quarter. Wells Fargo & Company MN now owns 5,685,844 shares of the technology company’s stock worth $134,016,000 after buying an additional 3,415,959 shares during the last quarter. 83.00% of the stock is currently owned by institutional investors.
CenturyLink (NYSE:CTL) opened at 20.41 on Thursday. The firm has a 50 day moving average of $22.08 and a 200 day moving average of $23.93. CenturyLink has a 1-year low of $18.41 and a 1-year high of $33.45. The firm has a market cap of $11.22 billion, a P/E ratio of 29.58 and a beta of 0.87.
The company also recently declared 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. This represents a $2.16 annualized dividend and a dividend yield of 10.58%. The ex-dividend date is Thursday, August 31st. CenturyLink’s dividend payout ratio (DPR) is currently 313.04%.
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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