CenturyLink, Inc. (CTL) Bonds Rise 3% During Trading Analyst
An issue of CenturyLink, Inc. (NYSE:CTL) debt rose 3% as a percentage of its face value during trading on Monday after Zacks Investment Research downgraded the stock from a hold rating to a sell rating. The debt issue has a 7.6% coupon and is set to mature on September 15, 2039. The debt is now trading at $82.03 and was trading at $87.63 last week. Price moves in a company’s debt in credit markets often predict parallel moves in its share price.
CTL has been the topic of several other research reports. Jefferies Group LLC lowered their target price on shares of CenturyLink to $17.00 and set a “hold” rating on the stock in a report on Thursday, November 9th. Oppenheimer Holdings, Inc. decreased their price objective on shares of CenturyLink from $28.00 to $20.00 and set an “outperform” rating on the stock in a report on Friday, November 10th. Deutsche Bank AG reissued a “hold” rating and set a $16.00 price objective on shares of CenturyLink in a report on Thursday, November 9th. SunTrust Banks, Inc. reissued a “hold” rating and set a $25.00 price objective on shares of CenturyLink in a report on Wednesday, November 1st. Finally, UBS AG decreased their price objective on shares of CenturyLink from $29.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, November 9th. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. CenturyLink presently has an average rating of “Hold” and an average price target of $23.07.
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Eaton Vance Management lifted its holdings in shares of CenturyLink by 0.5% in the second quarter. Eaton Vance Management now owns 12,640 shares of the technology company’s stock valued at $302,000 after purchasing an additional 57 shares in the last quarter. Wellington Shields & Co. LLC lifted its holdings in shares of CenturyLink by 1.1% in the second quarter. Wellington Shields & Co. LLC now owns 9,202 shares of the technology company’s stock valued at $220,000 after purchasing an additional 99 shares in the last quarter. FTB Advisors Inc. lifted its holdings in shares of CenturyLink by 0.9% in the second quarter. FTB Advisors Inc. now owns 12,348 shares of the technology company’s stock valued at $268,000 after purchasing an additional 116 shares in the last quarter. First Manhattan Co. lifted its holdings in shares of CenturyLink by 0.3% in the second quarter. First Manhattan Co. now owns 37,199 shares of the technology company’s stock valued at $888,000 after purchasing an additional 126 shares in the last quarter. Finally, Sentry Investment Management LLC lifted its holdings in shares of CenturyLink by 0.5% in the second quarter. Sentry Investment Management LLC now owns 37,917 shares of the technology company’s stock valued at $905,000 after purchasing an additional 174 shares in the last quarter. 81.74% of the stock is currently owned by institutional investors.
The stock has a market cap of $15,650.00, a price-to-earnings ratio of 7.98, a PEG ratio of -4.14 and a beta of 0.88. The company has a debt-to-equity ratio of 1.92, a quick ratio of 0.82 and a current ratio of 0.82.
CenturyLink (NYSE:CTL) last posted its quarterly earnings data on Wednesday, November 8th. The technology company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.03). The firm had revenue of $4.03 billion during the quarter, compared to analyst estimates of $4.06 billion. CenturyLink had a net margin of 1.89% and a return on equity of 7.99%. The business’s quarterly revenue was down 7.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.56 EPS. equities analysts expect that CenturyLink, Inc. will post 1.87 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Monday, November 27th will be given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 15.00%. CenturyLink’s dividend payout ratio is presently 372.41%.
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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