CenturyLink, Inc. (NYSE:CTL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Monday.
According to Zacks, “CenturyLink posted weak third-quarter 2017 financial results with declining access lines and broadband subscriber loss. High debt levels and decreasing cash flows is likely to affect the company's margins. Technological changes compel large investments, which can dilute cash flow. Over the past three months, the stock price declined 29.5% as against the industry's loss of 11.3%. On the flip side, CenturyLink remains focused on establishing itself as a global leader in cloud infrastructure and hosted IT solutions arena for enterprise customers. The company unveiled a beta version of its OTT TV services. CenturyLink invests in fiber-to-the-tower expansion and has expanded its fiber-based backhaul services. Meanwhile, recently, CenturyLink completed the acquisition of Level 3 Communications.”
Several other research analysts have also recently commented on the stock. ValuEngine cut shares of CenturyLink from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Cowen and Company reiterated a “hold” rating and issued a $24.00 target price on shares of CenturyLink in a report on Thursday, October 19th. SunTrust Banks, Inc. reiterated a “hold” rating and issued a $25.00 target price on shares of CenturyLink in a report on Wednesday, November 1st. Deutsche Bank AG decreased their target price on shares of CenturyLink from $23.00 to $20.00 and set a “hold” rating for the company in a report on Tuesday, October 10th. Finally, Morgan Stanley decreased their target price on shares of CenturyLink from $27.00 to $26.00 and set an “overweight” rating for the company in a report on Wednesday, August 23rd. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. CenturyLink presently has an average rating of “Hold” and a consensus target price of $23.07.
CenturyLink (NYSE CTL) opened at $14.40 on Monday. CenturyLink has a 12-month low of $14.31 and a 12-month high of $27.61. The company has a debt-to-equity ratio of 1.92, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market cap of $8,425.51, a PE ratio of 7.90, a PEG ratio of -4.81 and a beta of 0.88.
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 the Thomson Reuters’ consensus estimate of $0.45 by ($0.03). CenturyLink had a net margin of 1.89% and a return on equity of 7.99%. The business had revenue of $4.03 billion for the quarter, compared to the consensus estimate of $4.06 billion. During the same quarter last year, the business posted $0.56 EPS. The business’s revenue for the quarter was down 7.9% on a year-over-year basis. sell-side analysts expect that CenturyLink will post 1.59 earnings per share for the current year.
Institutional investors and hedge funds have recently modified their holdings of the stock. Endurance Wealth Management Inc. raised its position in CenturyLink by 18.5% during the second quarter. Endurance Wealth Management Inc. now owns 4,650 shares of the technology company’s stock valued at $111,000 after acquiring an additional 725 shares in the last quarter. Patriot Financial Group Insurance Agency LLC raised its position in CenturyLink by 178.6% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 6,684 shares of the technology company’s stock valued at $134,000 after acquiring an additional 4,285 shares in the last quarter. Blue Granite Capital LLC bought a new position in CenturyLink during the third quarter valued at approximately $136,000. Exane Derivatives raised its position in CenturyLink by 27.6% during the second quarter. Exane Derivatives now owns 6,645 shares of the technology company’s stock valued at $159,000 after acquiring an additional 1,436 shares in the last quarter. Finally, Tower Research Capital LLC TRC bought a new position in CenturyLink during the second quarter valued at approximately $197,000. 81.74% of the stock is currently owned by hedge funds and other institutional investors.
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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