Bank of America Corporation Cuts CenturyLink, Inc. (CTL) Price Target to $27.00

CenturyLink, Inc. (NYSE:CTL) had its price objective lowered by Bank of America Corporation from $42.00 to $27.00 in a research report report published on Friday. Bank of America Corporation currently has a buy rating on the technology company’s stock.

Other equities research analysts have also recently issued research reports about the stock. ValuEngine upgraded shares of CenturyLink from a hold rating to a buy rating in a research report on Friday, August 18th. Royal Bank Of Canada reiterated a hold rating and set a $25.00 target price on shares of CenturyLink in a research report on Monday, September 18th. J P Morgan Chase & Co reiterated a buy rating and set a $26.00 target price on shares of CenturyLink in a research report on Thursday, November 9th. Zacks Investment Research cut shares of CenturyLink from a hold rating to a strong sell rating in a research report on Friday, August 25th. Finally, Morgan Stanley lowered their price objective on shares of CenturyLink from $27.00 to $26.00 and set an overweight rating for the company in a research report on Wednesday, August 23rd. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $23.07.

Shares of CenturyLink (NYSE:CTL) traded down $0.15 during trading on Friday, hitting $15.33. 16,401,200 shares of the company were exchanged, compared to its average volume of 10,324,079. The firm has a market cap of $15,650.00, a PE ratio of 7.98, a P/E/G ratio of -4.14 and a beta of 0.88. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.92. CenturyLink has a 1-year low of $14.60 and a 1-year high of $27.61.

CenturyLink (NYSE:CTL) last announced its earnings results on Wednesday, November 8th. The technology company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.03). The firm had revenue of $4.03 billion for the quarter, compared to analyst estimates of $4.06 billion. CenturyLink had a return on equity of 7.99% and a net margin of 1.89%. The company’s revenue for the quarter was down 7.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.56 EPS. equities analysts predict that CenturyLink will post 1.87 EPS for the current year.

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Large investors have recently modified their holdings of the company. Endurance Wealth Management Inc. grew its position in shares of CenturyLink by 18.5% during the 2nd quarter. Endurance Wealth Management Inc. now owns 4,650 shares of the technology company’s stock worth $111,000 after buying an additional 725 shares during the period. Exane Derivatives grew its position in shares of CenturyLink by 27.6% during the 2nd quarter. Exane Derivatives now owns 6,645 shares of the technology company’s stock worth $159,000 after buying an additional 1,436 shares during the period. Patriot Financial Group Insurance Agency LLC grew its position in shares of CenturyLink by 178.6% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 6,684 shares of the technology company’s stock worth $134,000 after buying an additional 4,285 shares during the period. Blue Granite Capital LLC acquired a new stake in shares of CenturyLink during the 3rd quarter worth approximately $136,000. Finally, Tower Research Capital LLC TRC acquired a new stake in shares of CenturyLink during the 2nd quarter worth approximately $197,000. Institutional investors own 81.74% of the company’s stock.

About CenturyLink

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.

Analyst Recommendations for CenturyLink (NYSE:CTL)

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