Shares of CenturyLink, Inc. (NYSE:CTL) have received a consensus recommendation of “Hold” from the eighteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $25.84.
CTL has been the topic of a number of recent research reports. ValuEngine cut CenturyLink from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Barclays PLC cut their price objective on shares of CenturyLink from $24.00 to $23.00 and set an “underweight” rating on the stock in a research note on Thursday, June 29th. Cowen and Company lifted their price objective on shares of CenturyLink from $25.00 to $27.00 and gave the company a “market perform” rating in a research note on Wednesday, July 5th. BidaskClub cut shares of CenturyLink from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th. Finally, Morgan Stanley cut their price objective on shares of CenturyLink from $27.00 to $26.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 23rd.
A number of institutional investors have recently modified their holdings of CTL. Vanguard Group Inc. raised its position in CenturyLink by 22.6% in the second quarter. Vanguard Group Inc. now owns 57,351,163 shares of the technology company’s stock worth $1,369,547,000 after acquiring an additional 10,583,246 shares in the last quarter. Capital World Investors bought a new stake in CenturyLink in the second quarter worth about $142,086,000. Standard Life Investments LTD bought a new stake in CenturyLink in the second quarter worth about $112,613,000. Fiduciary Management Inc. WI bought a new stake in CenturyLink in the second quarter worth about $86,411,000. Finally, 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 acquiring an additional 3,383,155 shares in the last quarter. Hedge funds and other institutional investors own 83.04% of the company’s stock.
CenturyLink (NYSE:CTL) last posted its earnings results on Wednesday, August 2nd. The technology company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.03). The company had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.09 billion. CenturyLink had a net margin of 2.20% and a return on equity of 8.43%. The business’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.63 earnings per share.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Tuesday, September 5th were given a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 11.65%. The ex-dividend date was Thursday, August 31st. CenturyLink’s dividend payout ratio (DPR) is presently 313.04%.
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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