Rothschild Asset Management Inc. Sells 1,028 Shares of CenturyLink, Inc. (CTL)
Rothschild Asset Management Inc. reduced its position in shares of CenturyLink, Inc. (NYSE:CTL) by 5.0% during the second quarter, Holdings Channel reports. The firm owned 19,333 shares of the technology company’s stock after selling 1,028 shares during the period. Rothschild Asset Management Inc.’s holdings in CenturyLink were worth $462,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of CTL. Vanguard Group Inc. raised its position in 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 period. Wells Fargo & Company MN raised its position in CenturyLink by 150.5% in the first quarter. Wells Fargo & Company MN now owns 5,685,844 shares of the technology company’s stock worth $134,016,000 after buying an additional 3,415,959 shares during the period. Thornburg Investment Management Inc. raised its position in 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 period. RidgeWorth Capital Management LLC raised its position in CenturyLink by 110.4% in the first quarter. RidgeWorth Capital Management LLC now owns 2,464,222 shares of the technology company’s stock worth $58,082,000 after buying an additional 1,293,150 shares during the period. Finally, OppenheimerFunds Inc. raised its position in CenturyLink by 108.3% in the first quarter. OppenheimerFunds Inc. now owns 2,196,144 shares of the technology company’s stock worth $51,763,000 after buying an additional 1,142,040 shares during the period. 78.04% of the stock is owned by hedge funds and other institutional investors.
Shares of CenturyLink, Inc. (NYSE CTL) opened at 21.66 on Friday. The company has a market capitalization of $11.90 billion, a P/E ratio of 31.39 and a beta of 0.87. CenturyLink, Inc. has a 12 month low of $21.56 and a 12 month high of $33.45. The company has a 50-day moving average price of $23.18 and a 200-day moving average price of $24.32.
CenturyLink (NYSE:CTL) last issued its earnings results on Wednesday, August 2nd. The technology company reported $0.46 earnings per share (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 net margin of 2.20% and a return on equity of 8.43%. The firm’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.63 earnings per share. On average, analysts forecast that CenturyLink, Inc. will post $1.95 EPS for the current fiscal year.
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A number of research analysts recently weighed in on CTL shares. Bank of America Corporation reissued a “buy” rating on shares of CenturyLink in a report on Tuesday, May 9th. Vetr raised shares of CenturyLink from a “hold” rating to a “buy” rating and set a $27.12 target price for the company in a report on Monday, May 1st. Zacks Investment Research raised shares of CenturyLink from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a report on Wednesday, April 26th. Barclays PLC cut their target price on shares of CenturyLink from $24.00 to $23.00 and set an “underweight” rating for the company in a report on Thursday, June 29th. Finally, Jefferies Group LLC cut their target price on shares of CenturyLink from $26.00 to $23.00 and set a “hold” rating for the company in a report on Thursday, May 4th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $26.22.
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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