CIBC World Markets Inc. Acquires 31,525 Shares of CenturyLink, Inc. (CTL)
CIBC World Markets Inc. lifted its holdings in shares of CenturyLink, Inc. (NYSE:CTL) by 101.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 62,477 shares of the technology company’s stock after purchasing an additional 31,525 shares during the period. CIBC World Markets Inc.’s holdings in CenturyLink were worth $1,492,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of CTL. Endurance Wealth Management Inc. lifted its holdings in shares of CenturyLink by 18.5% during the second quarter. Endurance Wealth Management Inc. now owns 4,650 shares of the technology company’s stock worth $111,000 after purchasing an additional 725 shares during the period. FNY Managed Accounts LLC acquired a new position in shares of CenturyLink during the first quarter worth $120,000. Exane Derivatives lifted its holdings in shares of CenturyLink by 27.6% during the second quarter. Exane Derivatives now owns 6,645 shares of the technology company’s stock worth $159,000 after purchasing an additional 1,436 shares during the period. Wedbush Securities Inc. acquired a new position in shares of CenturyLink during the first quarter worth $209,000. Finally, Greenleaf Trust acquired a new position in shares of CenturyLink during the second quarter worth $211,000. Institutional investors own 83.02% of the company’s stock.
Shares of CenturyLink, Inc. (NYSE:CTL) opened at 18.75 on Thursday. CenturyLink, Inc. has a 1-year low of $18.19 and a 1-year high of $33.45. The company has a market capitalization of $10.31 billion, a P/E ratio of 27.17 and a beta of 0.89. The firm has a 50-day moving average of $20.96 and a 200 day moving average of $23.52.
CenturyLink (NYSE:CTL) last announced its quarterly 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 for 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 company’s quarterly revenue was down 7.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.63 EPS. On average, equities research analysts expect that CenturyLink, Inc. will post $1.95 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, September 5th will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $2.16 annualized dividend and a yield of 11.52%. CenturyLink’s payout ratio is currently 313.04%.
A number of brokerages have recently commented on CTL. Cowen and Company reiterated a “neutral” rating on shares of CenturyLink in a report on Monday, August 14th. Zacks Investment Research lowered shares of CenturyLink from a “hold” rating to a “strong sell” rating in a report on Friday, August 25th. BidaskClub raised shares of CenturyLink from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. Royal Bank Of Canada reissued a “hold” rating and set a $25.00 target price on shares of CenturyLink in a research note on Thursday, May 25th. Finally, Barclays PLC lowered their target price on shares of CenturyLink from $24.00 to $23.00 and set an “underweight” rating for the company in a research note on Thursday, June 29th. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $26.15.
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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