Centurylink Inc (NYSE:CTL) was the target of a significant drop in short interest in October. As of October 31st, there was short interest totalling 102,140,000 shares, a drop of 9.7% from the September 30th total of 113,160,000 shares. Based on an average trading volume of 12,460,000 shares, the short-interest ratio is currently 8.2 days. Approximately 9.5% of the shares of the stock are sold short.

A number of large investors have recently modified their holdings of CTL. First Trust Advisors LP boosted its holdings in Centurylink by 312.5% during the second quarter. First Trust Advisors LP now owns 17,971,928 shares of the technology company’s stock worth $211,350,000 after buying an additional 13,615,102 shares in the last quarter. Nuveen Asset Management LLC boosted its holdings in Centurylink by 292.7% during the second quarter. Nuveen Asset Management LLC now owns 7,153,338 shares of the technology company’s stock worth $84,123,000 after buying an additional 5,331,862 shares in the last quarter. BlackRock Inc. boosted its holdings in Centurylink by 5.3% during the second quarter. BlackRock Inc. now owns 91,381,667 shares of the technology company’s stock worth $1,074,649,000 after buying an additional 4,592,314 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Centurylink by 4.3% during the second quarter. Vanguard Group Inc. now owns 111,083,804 shares of the technology company’s stock worth $1,306,346,000 after buying an additional 4,537,725 shares in the last quarter. Finally, Parametric Portfolio Associates LLC boosted its holdings in Centurylink by 52.9% during the second quarter. Parametric Portfolio Associates LLC now owns 5,843,769 shares of the technology company’s stock worth $68,723,000 after buying an additional 2,021,983 shares in the last quarter. Hedge funds and other institutional investors own 73.77% of the company’s stock.

Several research analysts have recently issued reports on the stock. TheStreet upgraded shares of Centurylink from a “d+” rating to a “c” rating in a report on Thursday, November 7th. Raymond James upgraded shares of Centurylink from an “underperform” rating to a “market perform” rating in a report on Thursday, August 8th. ValuEngine upgraded shares of Centurylink from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Centurylink in a report on Friday, September 13th. Finally, Guggenheim cut shares of Centurylink from a “neutral” rating to a “sell” rating and set a $10.00 price objective for the company. in a report on Wednesday, November 6th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. Centurylink currently has a consensus rating of “Hold” and an average price target of $13.16.

NYSE:CTL traded up $0.25 during trading hours on Monday, reaching $15.22. 10,392,858 shares of the company’s stock were exchanged, compared to its average volume of 13,777,580. The company has a market capitalization of $16.23 billion, a P/E ratio of 12.79, a price-to-earnings-growth ratio of 1.52 and a beta of 0.86. Centurylink has a 12 month low of $9.64 and a 12 month high of $19.53. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 2.54. The business’s 50-day simple moving average is $12.78 and its two-hundred day simple moving average is $11.74.

Centurylink (NYSE:CTL) last issued its earnings results on Wednesday, November 6th. The technology company reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.01). The business had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.53 billion. Centurylink had a positive return on equity of 9.56% and a negative net margin of 34.96%. The company’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.30 earnings per share. As a group, sell-side analysts anticipate that Centurylink will post 1.32 earnings per share for the current fiscal year.

About Centurylink

CenturyLink, Inc provides various communications services to residential, business, wholesale, and governmental customers in the United States and internationally. The company operates in two segments, Business and Consumer. It offers VPN data network services; Ethernet services; Internet protocol (IP) services; facilities-based Prism TV service, as well as satellite digital television services; CDN services; and Vyvx broadcast services.

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