J P Morgan Chase & Co Reiterates Buy Rating for CenturyLink, Inc. (CTL)
CenturyLink, Inc. (NYSE:CTL)‘s stock had its “buy” rating reiterated by investment analysts at J P Morgan Chase & Co in a report issued on Thursday. They currently have a $26.00 price target on the technology company’s stock. J P Morgan Chase & Co’s price objective points to a potential upside of 67.96% from the stock’s current price.
A number of other research analysts have also recently commented on CTL. BidaskClub cut shares of CenturyLink from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Cowen and Company restated a “neutral” rating on shares of CenturyLink in a research note on Monday, August 14th. ValuEngine upgraded shares of CenturyLink from a “hold” rating to a “buy” rating in a research note on Friday, August 18th. Morgan Stanley dropped their price objective on shares of CenturyLink from $27.00 to $26.00 and set an “overweight” rating for the company in a report on Wednesday, August 23rd. Finally, Zacks Investment Research lowered shares of CenturyLink from a “hold” rating to a “strong sell” rating in a report on Friday, August 25th. Four analysts have rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. CenturyLink currently has an average rating of “Hold” and a consensus target price of $23.07.
CenturyLink (CTL) opened at $15.48 on Thursday. The company has a market cap of $8,507.95, a PE ratio of 7.98, a price-to-earnings-growth ratio of -4.02 and a beta of 0.88. The company has a debt-to-equity ratio of 1.92, a quick ratio of 0.90 and a current ratio of 0.82. CenturyLink has a one year low of $14.60 and a one year high of $27.61.
CenturyLink (NYSE:CTL) last announced its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.03). The business had revenue of $4.03 billion for the quarter, compared to the consensus estimate of $4.06 billion. CenturyLink had a return on equity of 7.99% and a net margin of 1.89%. The firm’s revenue for the quarter was down 7.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.56 EPS. equities analysts expect that CenturyLink will post 1.92 EPS for the current year.
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Several institutional investors have recently modified their holdings of CTL. Vanguard Group Inc. increased its holdings 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 purchasing an additional 10,583,246 shares in the last quarter. Capital World Investors acquired a new stake in shares of CenturyLink in the second quarter valued at approximately $142,086,000. Standard Life Investments LTD acquired a new stake in shares of CenturyLink in the second quarter valued at approximately $112,613,000. Fiduciary Management Inc. WI acquired a new stake in shares of CenturyLink in the second quarter valued at approximately $86,411,000. Finally, Samlyn Capital LLC acquired a new stake in shares of CenturyLink in the second quarter valued at approximately $80,290,000. 82.51% of the stock is 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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