An issue of CenturyLink, Inc. (NYSE:CTL) bonds rose 1.2% against their face value during trading on Tuesday. The high-yield debt issue has a 7.65% coupon and will mature on March 15, 2042. The bonds in the issue are now trading at $93.37 and were trading at $92.63 one week ago. Price changes in a company’s bonds in credit markets often anticipate parallel changes in its stock price.
A number of research firms have commented on CTL. Jefferies Group LLC reduced their price objective on shares of CenturyLink from $26.00 to $23.00 and set a “hold” rating on the stock in a research note on Thursday, May 4th. UBS AG set a $29.00 price target on shares of CenturyLink and gave the stock a “buy” rating in a research report on Thursday, June 22nd. Bank of America Corporation restated a “buy” rating on shares of CenturyLink in a research report on Tuesday, May 9th. Cowen and Company set a $25.00 price target on shares of CenturyLink and gave the stock a “market perform” rating in a research report on Thursday, May 4th. Finally, ValuEngine downgraded shares of CenturyLink from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $26.22.
Shares of CenturyLink, Inc. (CTL) opened at 23.74 on Thursday. The company has a 50-day moving average of $23.98 and a 200 day moving average of $24.49. CenturyLink, Inc. has a 12 month low of $22.26 and a 12 month high of $33.45. The company has a market capitalization of $13.03 billion, a P/E ratio of 23.27 and a beta of 0.87.
CenturyLink (NYSE:CTL) last issued its earnings results on Wednesday, August 2nd. The technology company reported $0.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by $0.03. CenturyLink had a net margin of 3.20% and a return on equity of 8.96%. The firm had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.09 billion. During the same quarter in the prior year, the firm posted $0.63 EPS. The firm’s revenue for the quarter was down 7.0% on a year-over-year basis. Analysts forecast that CenturyLink, Inc. will post $2.08 EPS for the current year.
Several large investors have recently modified their holdings of the stock. Thrivent Financial for Lutherans increased its stake in shares of CenturyLink by 5.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 19,062 shares of the technology company’s stock valued at $454,000 after buying an additional 1,067 shares in the last quarter. UBS Asset Management Americas Inc. increased its stake in shares of CenturyLink by 10.0% in the fourth quarter. UBS Asset Management Americas Inc. now owns 2,036,768 shares of the technology company’s stock valued at $48,434,000 after buying an additional 185,251 shares in the last quarter. Teachers Advisors LLC increased its stake in shares of CenturyLink by 1.8% in the fourth quarter. Teachers Advisors LLC now owns 1,224,363 shares of the technology company’s stock valued at $29,115,000 after buying an additional 21,072 shares in the last quarter. Kentucky Retirement Systems purchased a new stake in shares of CenturyLink during the fourth quarter valued at approximately $943,000. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of CenturyLink during the fourth quarter valued at approximately $421,000. Institutional investors own 77.53% of the company’s stock.
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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.
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