CenturyLink (CTL) Bonds Rise 1.5% During Trading

An issue of CenturyLink, Inc. (NYSE:CTL) bonds rose 1.5% as a percentage of their face value during trading on Thursday. The debt issue has a 7.6% coupon and is set to mature on September 15, 2039. The bonds in the issue are now trading at $87.00 and were trading at $84.00 one week ago. Price changes in a company’s bonds in credit markets often predict parallel changes in its share price.

Several analysts have recently issued reports on CTL shares. ValuEngine raised CenturyLink from a “hold” rating to a “buy” rating in a report on Friday, August 18th. Morgan Stanley decreased their price target on CenturyLink from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Wednesday, August 23rd. Zacks Investment Research lowered CenturyLink from a “hold” rating to a “strong sell” rating in a report on Friday, August 25th. Royal Bank of Canada restated a “hold” rating and set a $25.00 price target on shares of CenturyLink in a report on Monday, September 18th. Finally, Jefferies Group restated a “hold” rating and set a $22.00 price target on shares of CenturyLink in a report on Tuesday, October 3rd. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. CenturyLink presently has a consensus rating of “Hold” and an average target price of $22.87.

CenturyLink, Inc. (NYSE CTL) traded up $0.52 during mid-day trading on Friday, reaching $16.99. The company’s stock had a trading volume of 23,461,430 shares, compared to its average volume of 18,620,000. 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, Inc. has a twelve month low of $13.16 and a twelve month high of $27.61. The stock has a market capitalization of $18,740.00, a price-to-earnings ratio of 8.49, a price-to-earnings-growth ratio of -5.28 and a beta of 0.79.

CenturyLink (NYSE:CTL) last released its earnings results 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). CenturyLink had a return on equity of 7.99% and a net margin of 1.89%. The business had revenue of $4.03 billion during the quarter, compared to analysts’ expectations of $4.06 billion. During the same quarter in the previous year, the business earned $0.56 EPS. The business’s revenue for the quarter was down 7.9% on a year-over-year basis. equities research analysts forecast that CenturyLink, Inc. will post 1.56 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, December 11th. Shareholders of record on Monday, November 27th were paid a $0.54 dividend. The ex-dividend date was Friday, November 24th. This represents a $2.16 dividend on an annualized basis and a yield of 12.71%. CenturyLink’s payout ratio is 372.41%.

In other news, Vice Chairman William Bruce Hanks purchased 10,000 shares of the company’s stock in a transaction dated Friday, December 8th. The shares were acquired at an average price of $14.41 per share, with a total value of $144,100.00. Following the transaction, the insider now owns 58,722 shares of the company’s stock, valued at $846,184.02. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Virginia Boulet purchased 5,095 shares of the company’s stock in a transaction dated Monday, December 11th. The shares were purchased at an average cost of $15.48 per share, for a total transaction of $78,870.60. Following the transaction, the director now directly owns 42,820 shares in the company, valued at approximately $662,853.60. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 150,595 shares of company stock worth $2,154,131. Insiders own 0.61% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Eaton Vance Management grew its position in shares of CenturyLink by 0.5% during the 2nd quarter. Eaton Vance Management now owns 12,640 shares of the technology company’s stock worth $302,000 after buying an additional 57 shares in the last quarter. FTB Advisors Inc. boosted its position in CenturyLink by 0.9% during 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. Sentry Investment Management LLC boosted its position in CenturyLink by 0.5% during 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. Davidson & Garrard Inc. boosted its position in CenturyLink by 0.3% during the second quarter. Davidson & Garrard Inc. now owns 79,655 shares of the technology company’s stock valued at $1,902,000 after purchasing an additional 239 shares in the last quarter. Finally, Utah Retirement Systems boosted its position in CenturyLink by 0.5% during the second quarter. Utah Retirement Systems now owns 98,916 shares of the technology company’s stock valued at $2,362,000 after purchasing an additional 500 shares in the last quarter. 82.32% of the stock is currently owned by institutional investors and hedge funds.

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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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