Kovack Advisors Inc. increased its stake in Centurylink Inc (NYSE:CTL) by 9.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,150 shares of the technology company’s stock after acquiring an additional 1,101 shares during the period. Kovack Advisors Inc.’s holdings in Centurylink were worth $158,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Legacy Advisors LLC bought a new stake in Centurylink in the first quarter worth about $25,000. Signet Investment Advisory Group Inc. bought a new stake in shares of Centurylink during the fourth quarter valued at approximately $34,000. Doyle Wealth Management bought a new stake in shares of Centurylink during the fourth quarter valued at approximately $35,000. Pearl River Capital LLC bought a new stake in shares of Centurylink during the fourth quarter valued at approximately $42,000. Finally, Benjamin F. Edwards & Company Inc. raised its stake in shares of Centurylink by 34.6% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 3,513 shares of the technology company’s stock valued at $53,000 after acquiring an additional 904 shares in the last quarter. Institutional investors own 75.52% of the company’s stock.
Several analysts have recently weighed in on the stock. Citigroup raised shares of Centurylink from a “sell” rating to a “neutral” rating in a research note on Thursday, May 9th. Zacks Investment Research downgraded shares of Centurylink from a “buy” rating to a “hold” rating in a research note on Tuesday, April 16th. Edward Jones downgraded shares of Centurylink to a “sell” rating in a research note on Tuesday, March 5th. Bank of America downgraded shares of Centurylink from a “buy” rating to a “neutral” rating and set a $14.00 price target for the company. in a research note on Tuesday, February 26th. Finally, Royal Bank of Canada downgraded shares of Centurylink from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $24.00 to $15.00 in a research note on Wednesday, February 20th. Five equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company’s stock. Centurylink has an average rating of “Hold” and an average price target of $16.75.
Shares of NYSE:CTL opened at $11.00 on Thursday. The company has a market capitalization of $11.46 billion, a P/E ratio of 9.24, a price-to-earnings-growth ratio of 0.67 and a beta of 0.74. Centurylink Inc has a 52 week low of $10.28 and a 52 week high of $24.20. The company has a quick ratio of 0.69, a current ratio of 0.71 and a debt-to-equity ratio of 2.68.
Centurylink (NYSE:CTL) last issued its quarterly earnings data on Wednesday, May 8th. The technology company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.07. The company had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.71 billion. Centurylink had a negative net margin of 34.62% and a positive return on equity of 6.89%. Centurylink’s revenue for the quarter was down 5.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.25 earnings per share. On average, sell-side analysts predict that Centurylink Inc will post 1.24 EPS for the current fiscal year.
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Centurylink Company Profile
CenturyLink, Inc provides various communications services to residential, business, wholesale, and governmental customers in the United States and internationally. The company operates in two segments, Business and Consumer. It offers VPN data network services; Ethernet services; Internet protocol (IP) services; facilities-based Prism TV service, as well as satellite digital television services; CDN services; and Vyvx broadcast services.
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