Standard Life Investments LTD Invests $112.61 Million in CenturyLink, Inc. (CTL)
Standard Life Investments LTD purchased a new position in CenturyLink, Inc. (NYSE:CTL) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 4,714,806 shares of the technology company’s stock, valued at approximately $112,613,000. Standard Life Investments LTD owned 0.87% of CenturyLink as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of CTL. Endurance Wealth Management Inc. lifted its position in shares of CenturyLink by 18.5% in the 2nd 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 in the 1st quarter worth approximately $120,000. Exane Derivatives lifted its position in shares of CenturyLink by 27.6% in the 2nd 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 in the 1st quarter worth approximately $209,000. Finally, Greenleaf Trust acquired a new position in shares of CenturyLink in the 2nd quarter worth approximately $211,000. Hedge funds and other institutional investors own 83.02% of the company’s stock.
Shares of CenturyLink, Inc. (NYSE CTL) traded up 0.32% during mid-day trading on Thursday, reaching $18.81. 1,357,208 shares of the company’s stock were exchanged. The firm has a market capitalization of $10.34 billion, a P/E ratio of 27.26 and a beta of 0.89. CenturyLink, Inc. has a one year low of $18.19 and a one year high of $33.45. The stock 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 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.03). CenturyLink had a return on equity of 8.43% and a net margin of 2.20%. The business had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.09 billion. During the same period in the previous year, the business earned $0.63 EPS. The business’s revenue was down 7.0% compared to the same quarter last year. On average, analysts forecast that CenturyLink, Inc. will post $1.94 EPS for the current fiscal year.
The company also recently disclosed 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. This represents a $2.16 annualized dividend and a yield of 11.52%. The ex-dividend date is Thursday, August 31st. CenturyLink’s dividend payout ratio is currently 313.04%.
A number of research analysts have recently issued reports on the stock. Cowen and Company restated a “neutral” rating on shares of CenturyLink in a research report on Monday, August 14th. Zacks Investment Research downgraded shares of CenturyLink from a “hold” rating to a “strong sell” rating in a research report on Friday, August 25th. BidaskClub upgraded shares of CenturyLink from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Royal Bank Of Canada restated a “hold” rating and issued a $25.00 price target on shares of CenturyLink in a research report on Thursday, May 25th. Finally, Barclays PLC dropped their price target on shares of CenturyLink from $24.00 to $23.00 and set an “underweight” rating on the stock in a research report on Thursday, June 29th. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $26.15.
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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