North Star Asset Management Inc. Has $605,000 Position in CenturyLink Inc. (CTL)
North Star Asset Management Inc. lowered its stake in shares of CenturyLink Inc. (NYSE:CTL) by 2.3% during the second quarter, Holdings Channel reports. The institutional investor owned 20,844 shares of the company’s stock after selling 500 shares during the period. North Star Asset Management Inc.’s holdings in CenturyLink were worth $605,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in CTL. Bessemer Group Inc. raised its stake in CenturyLink by 44.5% in the first quarter. Bessemer Group Inc. now owns 3,450 shares of the company’s stock valued at $110,000 after buying an additional 1,062 shares in the last quarter. Washington Trust Bank raised its stake in CenturyLink by 13.8% in the second quarter. Washington Trust Bank now owns 4,597 shares of the company’s stock valued at $133,000 after buying an additional 558 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new stake in CenturyLink during the second quarter valued at approximately $201,000. Prospera Financial Services Inc purchased a new stake in CenturyLink during the second quarter valued at approximately $206,000. Finally, Magnetar Financial LLC purchased a new stake in CenturyLink during the first quarter valued at approximately $221,000. Institutional investors own 73.31% of the company’s stock.
CenturyLink Inc. (NYSE:CTL) traded up 0.055% during midday trading on Monday, reaching $27.355. 1,177,948 shares of the company traded hands. The firm has a market capitalization of $14.93 billion, a PE ratio of 15.316 and a beta of 0.80. CenturyLink Inc. has a 12 month low of $21.94 and a 12 month high of $32.94. The company’s 50-day moving average price is $27.61 and its 200 day moving average price is $29.09.
CenturyLink (NYSE:CTL) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. The business earned $440 billion during the quarter, compared to the consensus estimate of $4.39 billion. CenturyLink had a return on equity of 11.02% and a net margin of 5.47%. The firm’s revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.55 earnings per share. On average, equities analysts anticipate that CenturyLink Inc. will post $2.53 earnings per share for the current year.
Several equities analysts have issued reports on the stock. Macquarie assumed 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. 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. Jefferies Group reaffirmed a “sell” rating on shares of CenturyLink in a report on Friday, September 2nd. RBC Capital Markets reaffirmed a “sector perform” rating and set a $31.00 price objective (up from $29.00) on shares of CenturyLink in a report on Wednesday, August 10th. Finally, Zacks Investment Research downgraded shares of CenturyLink from a “hold” rating to a “sell” rating in a report on Tuesday, October 4th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. CenturyLink presently has an average rating of “Hold” and an average target price of $28.44.
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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