CenturyLink, Inc. (CTL) Position Increased by Commonwealth Bank of Australia
Commonwealth Bank of Australia raised its position in CenturyLink, Inc. (NYSE:CTL) by 21.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 348,010 shares of the technology company’s stock after purchasing an additional 60,308 shares during the quarter. Commonwealth Bank of Australia owned 0.06% of CenturyLink worth $8,309,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of CTL. Vanguard Group Inc. raised its position in CenturyLink by 19.4% in the 1st quarter. Vanguard Group Inc. now owns 46,767,917 shares of the technology company’s stock worth $1,102,321,000 after purchasing an additional 7,600,609 shares during the period. Thornburg Investment Management Inc. raised its position in CenturyLink by 107.8% in the 1st quarter. Thornburg Investment Management Inc. now owns 6,521,497 shares of the technology company’s stock worth $153,712,000 after purchasing an additional 3,383,155 shares during the period. Pioneer Investment Management Inc. raised its position in CenturyLink by 1,012.9% in the 2nd quarter. Pioneer Investment Management Inc. now owns 3,516,501 shares of the technology company’s stock worth $83,974,000 after purchasing an additional 3,200,538 shares during the period. Artemis Investment Management LLP purchased a new stake in CenturyLink in the 2nd quarter worth about $36,718,000. Finally, RidgeWorth Capital Management LLC raised its position in CenturyLink by 110.4% in the 1st quarter. RidgeWorth Capital Management LLC now owns 2,464,222 shares of the technology company’s stock worth $58,082,000 after purchasing an additional 1,293,150 shares during the period. 83.02% of the stock is currently owned by institutional investors.
CTL has been the topic of a number of recent analyst reports. Barclays PLC reduced their price objective on shares of CenturyLink from $24.00 to $23.00 and set an “underweight” rating on the stock in a research report on Thursday, June 29th. Cowen and Company increased their price objective on shares of CenturyLink from $25.00 to $27.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 5th. Raymond James Financial, Inc. reissued an “underperform” rating on shares of CenturyLink in a research report on Monday, May 15th. ValuEngine lowered shares of CenturyLink from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, BidaskClub lowered shares of CenturyLink from a “buy” rating to a “hold” rating in a research report on Tuesday, June 20th. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $26.15.
CenturyLink, Inc. (NYSE CTL) opened at 18.54 on Friday. CenturyLink, Inc. has a 1-year low of $18.19 and a 1-year high of $33.45. The company has a market capitalization of $10.19 billion, a P/E ratio of 26.87 and a beta of 0.89. The stock’s 50 day moving average is $21.21 and its 200-day moving average is $23.62.
CenturyLink (NYSE:CTL) last released its quarterly 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 company 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%. CenturyLink’s revenue was down 7.0% on a year-over-year basis. During the same period last year, the firm posted $0.63 earnings per share. On average, analysts expect that CenturyLink, Inc. will post $1.95 earnings per share for the current fiscal year.
The business also recently declared 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. This represents a $2.16 dividend on an annualized basis and a dividend yield of 11.65%. The ex-dividend date is Thursday, August 31st. CenturyLink’s dividend payout ratio (DPR) is 313.04%.
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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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