An issue of Centurylink Inc (NYSE:CTL) bonds rose 0.6% as a percentage of their face value during trading on Monday after Oppenheimer lowered their price target on the stock from $24.00 to $22.00. The high-yield debt issue has a 6.875% coupon and will mature on September 15, 2033. The bonds in the issue are now trading at $97.80. Price moves in a company’s bonds in credit markets often predict parallel moves in its share price.

Several other brokerages have also recently commented on CTL. Zacks Investment Research cut shares of Centurylink from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 24th. Royal Bank of Canada boosted their price target on shares of Centurylink to $27.00 and gave the stock an “outperform” rating in a research report on Thursday, August 16th. Hanson cut shares of Centurylink from a “neutral” rating to a “sell” rating and set a $19.00 price target on the stock. in a research report on Wednesday, August 22nd. Moffett Nathanson reiterated a “sell” rating and issued a $23.00 price target on shares of Centurylink in a research report on Wednesday, August 22nd. Finally, Bank of America set a $27.00 price target on shares of Centurylink and gave the stock a “buy” rating in a research report on Wednesday, August 8th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $21.62.

In related news, Director Glen F. Post III sold 150,000 shares of Centurylink stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $24.00, for a total value of $3,600,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.60% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Picton Mahoney Asset Management purchased a new position in Centurylink in the 3rd quarter worth about $106,000. Migdal Insurance & Financial Holdings Ltd. increased its stake in Centurylink by 16,940.6% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,453 shares of the technology company’s stock worth $102,000 after purchasing an additional 5,421 shares in the last quarter. Rehmann Capital Advisory Group increased its stake in Centurylink by 210.7% in the 2nd quarter. Rehmann Capital Advisory Group now owns 5,873 shares of the technology company’s stock worth $109,000 after purchasing an additional 3,983 shares in the last quarter. Baker Ellis Asset Management LLC purchased a new position in Centurylink in the 2nd quarter worth about $110,000. Finally, AdvisorNet Financial Inc increased its stake in Centurylink by 118.4% in the 2nd quarter. AdvisorNet Financial Inc now owns 6,422 shares of the technology company’s stock worth $120,000 after purchasing an additional 3,482 shares in the last quarter. 76.78% of the stock is currently owned by hedge funds and other institutional investors.

The company has a market capitalization of $20.44 billion, a price-to-earnings ratio of 12.78, a PEG ratio of -11.65 and a beta of 0.76. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.78 and a quick ratio of 0.98.

Centurylink (NYSE:CTL) last released its earnings results on Thursday, November 8th. The technology company reported $0.30 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.30. Centurylink had a return on equity of 4.45% and a net margin of 7.81%. The company had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.88 billion. During the same quarter in the previous year, the business posted $0.42 EPS. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Centurylink Inc will post 1.08 earnings per share for the current year.

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About Centurylink (NYSE:CTL)

CenturyLink, Inc provides various communications services to residential, business, wholesale, and governmental customers primarily in the United States. It operates in two segments, Business and Consumer. The company offers virtual private network data network services; Ethernet services; Internet protocol services; CenturyLink Prism TV that allows customers to watch television or cable channels and record up to four shows on one home digital video recorder; and Vyvx, which provides audio and video feeds over fiber or satellite for broadcast and production customers, as well as satellite digital television services.

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