Westpac Banking Corp Continues to Hold Position in CenturyLink, Inc. (CTL)
Westpac Banking Corp continued to hold its stake in shares of CenturyLink, Inc. (NYSE:CTL) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,493 shares of the technology company’s stock at the close of the second quarter. Westpac Banking Corp’s holdings in CenturyLink were worth $824,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Parkwood LLC raised its position in shares of CenturyLink by 26.0% in the 1st quarter. Parkwood LLC now owns 53,087 shares of the technology company’s stock worth $1,251,000 after acquiring an additional 10,949 shares in the last quarter. Front Street Capital Management Inc. raised its position in shares of CenturyLink by 94.2% in the 2nd quarter. Front Street Capital Management Inc. now owns 95,448 shares of the technology company’s stock worth $2,279,000 after acquiring an additional 46,305 shares in the last quarter. Artemis Investment Management LLP bought a new position in shares of CenturyLink in the 2nd quarter worth approximately $36,718,000. Legal & General Group Plc raised its position in shares of CenturyLink by 7.6% in the 2nd quarter. Legal & General Group Plc now owns 3,949,130 shares of the technology company’s stock worth $94,318,000 after acquiring an additional 278,943 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of 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 acquiring an additional 7,600,609 shares in the last quarter. 83.02% of the stock is owned by hedge funds and other institutional investors.
Shares of CenturyLink, Inc. (CTL) opened at 18.34 on Tuesday. The firm’s 50-day moving average price is $21.15 and its 200 day moving average price is $23.60. The stock has a market capitalization of $10.08 billion, a P/E ratio of 26.58 and a beta of 0.89. CenturyLink, Inc. has a 52 week low of $18.19 and a 52 week high of $33.45.
CenturyLink (NYSE:CTL) last issued 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 business had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.09 billion. CenturyLink had a return on equity of 8.43% and a net margin of 2.20%. The business’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.63 earnings per share. Analysts expect that CenturyLink, Inc. will post $1.95 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, September 5th will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 11.78%. The ex-dividend date is Thursday, August 31st. CenturyLink’s payout ratio is presently 313.04%.
Several research analysts have recently issued reports on CTL shares. ValuEngine lowered CenturyLink from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Barclays PLC decreased their target price on CenturyLink from $24.00 to $23.00 and set an “underweight” rating for the company in a research report on Thursday, June 29th. Cowen and Company increased their target price on 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. Finally, BidaskClub lowered CenturyLink from a “buy” rating to a “hold” rating in a research report on Tuesday, June 20th. Five analysts have rated the stock with a sell rating, seven have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $26.15.
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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