Candriam Luxembourg S.C.A. cut its stake in CenturyLink, Inc. (NYSE:CTL) by 51.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,980 shares of the technology company’s stock after selling 74,125 shares during the period. Candriam Luxembourg S.C.A.’s holdings in CenturyLink were worth $1,647,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the company. Stratos Wealth Partners LTD. raised its stake in shares of CenturyLink by 0.5% in the second quarter. Stratos Wealth Partners LTD. now owns 168,462 shares of the technology company’s stock valued at $4,023,000 after buying an additional 818 shares during the last quarter. First Manhattan Co. raised its stake in shares of CenturyLink by 0.3% in the second quarter. First Manhattan Co. now owns 37,199 shares of the technology company’s stock valued at $888,000 after buying an additional 126 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of CenturyLink by 957.9% in the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 93,747 shares of the technology company’s stock valued at $2,239,000 after buying an additional 84,885 shares during the last quarter. CIBC Asset Management Inc raised its stake in shares of CenturyLink by 1.6% in the second quarter. CIBC Asset Management Inc now owns 61,964 shares of the technology company’s stock valued at $1,480,000 after buying an additional 947 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in shares of CenturyLink by 12.0% in the second quarter. Janney Montgomery Scott LLC now owns 80,100 shares of the technology company’s stock valued at $1,913,000 after buying an additional 8,595 shares during the last quarter. 78.04% of the stock is owned by institutional investors.
CenturyLink, Inc. (NYSE:CTL) opened at 21.66 on Friday. The company’s 50-day moving average price is $23.18 and its 200 day moving average price is $24.32. CenturyLink, Inc. has a 52-week low of $21.56 and a 52-week high of $33.45. The stock has a market capitalization of $11.90 billion, a P/E ratio of 31.39 and a beta of 0.87.
CenturyLink (NYSE:CTL) last posted its earnings results on Wednesday, August 2nd. The technology company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by $0.03. CenturyLink had a return on equity of 8.43% and a net margin of 2.20%. The firm had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $4.09 billion. During the same period in the previous year, the company earned $0.63 earnings per share. The company’s revenue was down 7.0% compared to the same quarter last year. On average, equities research analysts predict that CenturyLink, Inc. will post $1.95 earnings per share for the current fiscal year.
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Several analysts recently commented on the company. BidaskClub lowered CenturyLink from a “hold” rating to a “sell” rating in a report on Friday. Cowen and Company reaffirmed a “hold ctl” rating on shares of CenturyLink in a report on Thursday, July 6th. Barclays PLC cut their price objective on CenturyLink from $24.00 to $23.00 and set an “underweight” rating for the company in a report on Thursday, June 29th. UBS AG set a $29.00 price objective on CenturyLink and gave the stock a “buy” rating in a report on Thursday, June 22nd. Finally, ValuEngine lowered CenturyLink from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Four analysts have rated the stock with a sell rating, seven have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $26.22.
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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