Analysts Anticipate CenturyLink, Inc. (CTL) Will Post Quarterly Sales of $4.07 Billion
Equities research analysts expect CenturyLink, Inc. (NYSE:CTL) to post sales of $4.07 billion for the current fiscal quarter, according to Zacks. Seven analysts have made estimates for CenturyLink’s earnings, with the lowest sales estimate coming in at $4.06 billion and the highest estimate coming in at $4.11 billion. CenturyLink posted sales of $4.38 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 7.1%. The business is expected to report its next quarterly earnings report on Monday, October 30th.
According to Zacks, analysts expect that CenturyLink will report full year sales of $4.07 billion for the current year, with estimates ranging from $16.40 billion to $16.63 billion. For the next fiscal year, analysts expect that the company will report sales of $16.06 billion per share, with estimates ranging from $15.79 billion to $16.25 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that that provide coverage for CenturyLink.
CenturyLink (NYSE:CTL) last posted its earnings results on Wednesday, August 2nd. The technology company reported $0.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by $0.03. The firm had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.09 billion. CenturyLink had a return on equity of 8.43% and a net margin of 2.20%. The company’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same quarter last year, the business posted $0.63 earnings per share.
A number of research analysts have recently issued reports on CTL shares. Vetr upgraded shares of CenturyLink from a “buy” rating to a “strong-buy” rating and set a $27.12 price target on the stock in a research report on Monday, May 8th. Zacks Investment Research upgraded shares of CenturyLink from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a research report on Wednesday, April 26th. Cowen and Company boosted their price target on shares of CenturyLink from $25.00 to $27.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 5th. BidaskClub upgraded shares of CenturyLink from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Finally, Raymond James Financial, Inc. restated an “underperform” rating on shares of CenturyLink in a research report on Monday, May 15th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $26.22.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CTL. Macquarie Group Ltd. increased its position in CenturyLink by 69.8% in the fourth quarter. Macquarie Group Ltd. now owns 44,100 shares of the technology company’s stock valued at $1,049,000 after buying an additional 18,124 shares during the last quarter. Chevy Chase Trust Holdings Inc. increased its position in CenturyLink by 3.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 472,272 shares of the technology company’s stock valued at $11,131,000 after buying an additional 13,993 shares during the last quarter. Gulf International Bank UK Ltd increased its position in CenturyLink by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 171,101 shares of the technology company’s stock valued at $4,032,000 after buying an additional 2,225 shares during the last quarter. National Pension Service increased its position in CenturyLink by 21.8% in the first quarter. National Pension Service now owns 539,876 shares of the technology company’s stock valued at $12,638,000 after buying an additional 96,620 shares during the last quarter. Finally, Capstone Asset Management Co. increased its position in CenturyLink by 6.6% in the first quarter. Capstone Asset Management Co. now owns 86,124 shares of the technology company’s stock valued at $2,030,000 after buying an additional 5,342 shares during the last quarter. Hedge funds and other institutional investors own 78.04% of the company’s stock.
Shares of CenturyLink (CTL) opened at 21.66 on Friday. The firm has a 50-day moving average of $23.18 and a 200 day moving average of $24.32. CenturyLink has a 12-month low of $21.56 and a 12-month high of $33.45. The firm has a market capitalization of $11.90 billion, a price-to-earnings ratio of 31.39 and a beta of 0.87.
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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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