FY2016 Earnings Estimate for CenturyLink Inc. (CTL) Issued By Jefferies Group
CenturyLink Inc. (NYSE:CTL) – Investment analysts at Jefferies Group upped their FY2016 earnings estimates for shares of CenturyLink in a research note issued on Tuesday. Jefferies Group analyst M. Mccormack now anticipates that the firm will post earnings of $2.51 per share for the year, up from their prior estimate of $2.49. Jefferies Group currently has a “Sell” rating on the stock. Jefferies Group also issued estimates for CenturyLink’s Q4 2016 earnings at $0.61 EPS and FY2017 earnings at $2.41 EPS.
Other equities research analysts have also issued research reports about the stock. Morgan Stanley lowered shares of CenturyLink from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $31.00 to $27.00 in a report on Monday, July 18th. Macquarie began coverage on shares of CenturyLink in a report on Monday, July 11th. They set a “neutral” rating and a $31.00 price objective on the stock. Zacks Investment Research lowered shares of CenturyLink from a “hold” rating to a “sell” rating in a report on Tuesday, October 4th. Vetr raised shares of CenturyLink from a “hold” rating to a “buy” rating and set a $29.33 price objective on the stock in a report on Wednesday, August 31st. Finally, Evercore ISI began coverage on shares of CenturyLink in a report on Tuesday, June 21st. They set a “hold” rating and a $28.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $28.44.
CenturyLink (NYSE:CTL) opened at 27.39 on Thursday. The stock has a 50 day moving average of $27.66 and a 200 day moving average of $29.12. CenturyLink has a 52-week low of $21.94 and a 52-week high of $32.94. The stock has a market capitalization of $14.95 billion, a P/E ratio of 15.34 and a beta of 0.80.
CenturyLink (NYSE:CTL) last released its earnings results on Wednesday, August 3rd. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.04. The business had revenue of $440 billion for the quarter, compared to the consensus estimate of $4.39 billion. CenturyLink had a net margin of 5.47% and a return on equity of 11.02%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same period last year, the firm posted $0.55 earnings per share.
Several hedge funds have recently made changes to their positions in the stock. Cornerstone Investment Partners LLC increased its stake in shares of CenturyLink by 19.7% in the third quarter. Cornerstone Investment Partners LLC now owns 42,904 shares of the company’s stock worth $1,177,000 after buying an additional 7,055 shares in the last quarter. Private Bank & Trust Co. acquired a new stake in CenturyLink during the third quarter worth about $601,000. MSI Financial Services Inc boosted its stake in CenturyLink by 2.2% in the third quarter. MSI Financial Services Inc now owns 28,870 shares of the company’s stock worth $792,000 after buying an additional 608 shares during the last quarter. AT Bancorp acquired a new stake in CenturyLink during the third quarter worth about $1,927,000. Finally, Nisa Investment Advisors LLC boosted its stake in CenturyLink by 1.5% in the third quarter. Nisa Investment Advisors LLC now owns 186,610 shares of the company’s stock worth $5,119,000 after buying an additional 2,700 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.
The company also recently declared a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, September 2nd were given a $0.54 dividend. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $2.16 dividend on an annualized basis and a dividend yield of 7.89%. CenturyLink’s dividend payout ratio is 120.67%.
CenturyLink, Inc is an integrated communications company. The Company is engaged in providing an array of communications services to residential and business customers. The Company’s segments include Business and Consumer. Its communications services include local and long-distance voice, high-speed Internet, Multi-Protocol Label Switching (MPLS), private line (including special access), data integration, Ethernet, colocation, managed hosting (including cloud hosting), network, public access, video, wireless and other ancillary services.
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