Jefferies Group LLC Reiterates “Hold” Rating for CenturyLink, Inc. (CTL)
CenturyLink, Inc. (NYSE:CTL)‘s stock had its “hold” rating reissued by equities research analysts at Jefferies Group LLC in a note issued to investors on Tuesday. They currently have a $22.00 target price on the technology company’s stock. Jefferies Group LLC’s target price would suggest a potential upside of 9.02% from the stock’s current price.
Several other research firms have also weighed in on CTL. UBS AG set a $29.00 price objective on CenturyLink and gave the company a “buy” rating in a research note on Thursday, June 22nd. ValuEngine upgraded CenturyLink from a “hold” rating to a “buy” rating in a research report on Friday, August 18th. Royal Bank Of Canada restated a “hold” rating and set a $25.00 target price on shares of CenturyLink in a research report on Monday, September 18th. Zacks Investment Research downgraded CenturyLink from a “hold” rating to a “strong sell” rating in a research report on Friday, August 25th. Finally, Morgan Stanley decreased their price target on CenturyLink from $27.00 to $26.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 23rd. Five analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. CenturyLink has an average rating of “Hold” and a consensus price target of $26.08.
Shares of CenturyLink (NYSE CTL) traded up 4.45% during mid-day trading on Tuesday, reaching $20.18. The company’s stock had a trading volume of 12,098,773 shares. The company has a 50 day moving average price of $19.45 and a 200 day moving average price of $23.06. The stock has a market capitalization of $11.09 billion, a P/E ratio of 29.25 and a beta of 0.89. CenturyLink has a 12 month low of $18.17 and a 12 month high of $33.45.
CenturyLink (NYSE:CTL) last posted its earnings results on Wednesday, August 2nd. The technology company reported $0.46 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.03). CenturyLink had a net margin of 2.20% and a return on equity of 8.43%. The business had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.09 billion. During the same period in the previous year, the firm earned $0.63 EPS. The business’s revenue was down 7.0% compared to the same quarter last year. On average, equities research analysts anticipate that CenturyLink will post $1.94 earnings per share for the current fiscal year.
Large investors have recently modified their holdings of the business. Endurance Wealth Management Inc. increased its position in CenturyLink by 18.5% in the 2nd quarter. Endurance Wealth Management Inc. now owns 4,650 shares of the technology company’s stock valued at $111,000 after acquiring an additional 725 shares in the last quarter. FNY Managed Accounts LLC acquired a new position in shares of CenturyLink during the first quarter worth approximately $120,000. Exane Derivatives lifted its position in shares of CenturyLink by 27.6% during the second quarter. Exane Derivatives now owns 6,645 shares of the technology company’s stock worth $159,000 after purchasing an additional 1,436 shares in the last quarter. Tower Research Capital LLC TRC acquired a new position in shares of CenturyLink during the second quarter worth approximately $197,000. Finally, WealthPLAN Partners LLC lifted its position in shares of CenturyLink by 5,660.0% during the second quarter. WealthPLAN Partners LLC now owns 8,640 shares of the technology company’s stock worth $206,000 after purchasing an additional 8,490 shares in the last quarter. 83.04% of the stock is currently owned by hedge funds and other institutional investors.
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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