Zacks: Analysts Expect CenturyLink, Inc. (NYSE:CTL) to Announce $0.46 EPS
Analysts forecast that CenturyLink, Inc. (NYSE:CTL) will announce $0.46 earnings per share for the current quarter, according to Zacks Investment Research. Seven analysts have issued estimates for CenturyLink’s earnings. The highest EPS estimate is $0.51 and the lowest is $0.44. CenturyLink posted earnings of $0.56 per share in the same quarter last year, which would indicate a negative year over year growth rate of 17.9%. The firm is scheduled to announce its next earnings report on Monday, October 30th.
On average, analysts expect that CenturyLink will report full year earnings of $2.01 per share for the current year, with EPS estimates ranging from $1.91 to $2.20. For the next year, analysts forecast that the business will post earnings of $1.90 per share, with EPS estimates ranging from $1.52 to $2.25. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover CenturyLink.
CenturyLink (NYSE:CTL) last announced its earnings results on Wednesday, August 2nd. The technology company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.49 by $0.03. CenturyLink had a net margin of 2.20% and a return on equity of 8.43%. The company had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.09 billion. During the same quarter last year, the business posted $0.63 earnings per share. The company’s revenue for the quarter was down 7.0% compared to the same quarter last year.
A number of equities analysts recently issued reports on the company. Zacks Investment Research raised CenturyLink from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a report on Wednesday, April 26th. Vetr raised CenturyLink from a “hold” rating to a “buy” rating and set a $27.12 price objective for the company in a report on Monday, May 1st. Cowen and Company set a $25.00 price objective on CenturyLink and gave the stock a “market perform” rating in a report on Thursday, May 4th. Jefferies Group LLC decreased their price objective on CenturyLink from $26.00 to $23.00 and set a “hold” rating for the company in a report on Thursday, May 4th. Finally, Bank of America Corporation reissued a “buy” rating on shares of CenturyLink in a report on Tuesday, May 9th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $26.22.
Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of CenturyLink by 19.4% in the first quarter. Vanguard Group Inc. now owns 46,767,917 shares of the technology company’s stock worth $1,102,321,000 after buying an additional 7,600,609 shares during the last quarter. State Street Corp raised its position in shares of CenturyLink by 1.0% in the first quarter. State Street Corp now owns 31,157,907 shares of the technology company’s stock worth $734,384,000 after buying an additional 293,702 shares during the last quarter. American International Group Inc. raised its position in shares of CenturyLink by 1.4% in the first quarter. American International Group Inc. now owns 15,944,716 shares of the technology company’s stock worth $375,817,000 after buying an additional 214,210 shares during the last quarter. Geode Capital Management LLC raised its position in shares of CenturyLink by 10.0% in the first quarter. Geode Capital Management LLC now owns 6,721,808 shares of the technology company’s stock worth $158,256,000 after buying an additional 613,038 shares during the last quarter. Finally, Thornburg Investment Management Inc. raised its position in shares of CenturyLink by 107.8% in the first quarter. Thornburg Investment Management Inc. now owns 6,521,497 shares of the technology company’s stock worth $153,712,000 after buying an additional 3,383,155 shares during the last quarter. 78.04% of the stock is owned by hedge funds and other institutional investors.
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CenturyLink (NYSE CTL) opened at 21.68 on Friday. The stock has a market capitalization of $11.92 billion, a P/E ratio of 31.42 and a beta of 0.87. CenturyLink has a 52 week low of $21.61 and a 52 week high of $33.45. The firm has a 50 day moving average price of $23.25 and a 200 day moving average price of $24.35. CenturyLink also saw some unusual options trading on Tuesday. Traders bought 20,516 call options on the stock. This is an increase of 363% compared to the typical volume of 4,432 call options.
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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