CenturyLink, Inc. (CTL) Shares Sold by Korea Investment CORP
Korea Investment CORP lowered its position in CenturyLink, Inc. (NYSE:CTL) by 2.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 775,173 shares of the technology company’s stock after selling 18,821 shares during the period. Korea Investment CORP owned 0.14% of CenturyLink worth $18,511,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FNY Managed Accounts LLC purchased a new position in CenturyLink during the first quarter worth approximately $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 in the last quarter. 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 in the last quarter. State of Alaska Department of Revenue purchased a new position in CenturyLink during the first quarter worth approximately $200,000. Finally, Loudon Investment Management LLC purchased a new position in CenturyLink during the first quarter worth approximately $208,000. 78.04% of the stock is currently owned by institutional investors.
Shares of CenturyLink, Inc. (CTL) opened at 22.47 on Monday. The stock’s 50 day moving average price is $23.98 and its 200-day moving average price is $24.49. The firm has a market capitalization of $12.16 billion, a PE ratio of 32.57 and a beta of 0.87. CenturyLink, Inc. has a 12 month low of $22.26 and a 12 month high of $33.45.
CenturyLink (NYSE:CTL) last released its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by $0.03. The company had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.09 billion. CenturyLink had a net margin of 2.20% and a return on equity of 8.43%. The firm’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.63 earnings per share. On average, equities analysts anticipate that CenturyLink, Inc. will post $2.03 earnings per share for the current fiscal year.
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CTL has been the topic of a number of research analyst reports. Bank of America Corporation reaffirmed a “buy” rating on shares of CenturyLink in a report on Tuesday, May 9th. Vetr raised CenturyLink from a “hold” rating to a “buy” rating and set a $27.12 target price on the stock in a report on Monday, May 1st. Zacks Investment Research raised CenturyLink from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a report on Wednesday, April 26th. UBS AG set a $29.00 target price on CenturyLink and gave the stock a “buy” rating in a report on Thursday, June 22nd. Finally, BidaskClub downgraded CenturyLink from a “buy” rating to a “hold” rating in a report on Tuesday, June 20th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. CenturyLink currently has a consensus rating of “Hold” and an average price target of $26.22.
CenturyLink Company Profile
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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