CenturyLink, Inc. (NYSE:CTL) shares hit a new 52-week low during mid-day trading on Thursday following a dissappointing earnings announcement. The company traded as low as $22.11 and last traded at $22.18, with a volume of 14,989,619 shares. The stock had previously closed at $23.74.

The technology company reported $0.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by $0.03. The company had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.09 billion. CenturyLink had a return on equity of 8.36% and a net margin of 2.20%. The firm’s quarterly revenue was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.63 EPS.

Several research analysts have recently commented on the company. Cowen and Company reiterated a “hold ctl” rating on shares of CenturyLink in a report on Thursday, July 6th. Bank of America Corporation reiterated a “buy” rating on shares of CenturyLink in a report on Tuesday, May 9th. BidaskClub upgraded CenturyLink from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Royal Bank Of Canada reiterated a “hold” rating and issued a $25.00 price objective on shares of CenturyLink in a report on Thursday, May 25th. Finally, Zacks Investment Research upgraded CenturyLink from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a report on Wednesday, April 26th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $26.22.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Endurance Wealth Management Inc. increased its position in CenturyLink by 18.5% in the second quarter. Endurance Wealth Management Inc. now owns 4,650 shares of the technology company’s stock worth $111,000 after buying an additional 725 shares during the period. FNY Managed Accounts LLC purchased a new position in CenturyLink during the first quarter worth $120,000. Exane Derivatives increased its position in CenturyLink by 29.7% in the first quarter. Exane Derivatives now owns 5,209 shares of the technology company’s stock worth $123,000 after buying an additional 1,194 shares during the period. Ledyard National Bank increased its position in CenturyLink by 7,467.0% in the first quarter. Ledyard National Bank now owns 7,340 shares of the technology company’s stock worth $173,000 after buying an additional 7,243 shares during the period. Finally, First City Capital Management Inc. purchased a new position in CenturyLink during the first quarter worth $215,000. Hedge funds and other institutional investors own 77.53% of the company’s stock.

The firm has a 50-day moving average price of $23.98 and a 200-day moving average price of $24.49. The stock has a market cap of $12.16 billion, a PE ratio of 32.57 and a beta of 0.87.

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About CenturyLink

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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