An issue of CenturyLink, Inc. (NYSE:CTL) debt fell 1.9% against its face value during trading on Tuesday. The high-yield debt issue has a 5.8% coupon and will mature on March 15, 2022. The debt is now trading at $99.50 and was trading at $101.75 last week. Price moves in a company’s debt in credit markets often anticipate parallel moves in its share price.
A number of research analysts have issued reports on the company. UBS AG set a $29.00 target price on CenturyLink and gave the company a “buy” rating in a research report on Thursday, June 22nd. Jefferies Group LLC decreased their target price on CenturyLink from $26.00 to $23.00 and set a “hold” rating on the stock in a research report on Thursday, May 4th. Morgan Stanley decreased their target price on CenturyLink from $27.00 to $26.00 and set an “overweight” rating on the stock in a research report on Wednesday. Bank of America Corporation reiterated a “buy” rating on shares of CenturyLink in a research report on Tuesday, May 9th. Finally, ValuEngine upgraded CenturyLink from a “hold” rating to a “buy” rating in a research report on Friday, August 18th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. CenturyLink presently has an average rating of “Hold” and an average target price of $26.15.
CenturyLink, Inc. (NYSE:CTL) opened at 20.38 on Thursday. The firm has a market capitalization of $11.20 billion, a price-to-earnings ratio of 29.54 and a beta of 0.87. CenturyLink, Inc. has a 1-year low of $18.41 and a 1-year high of $33.45. The company has a 50 day moving average price of $22.28 and a 200-day moving average price of $23.99. CenturyLink also was the target of some unusual options trading on Tuesday. Stock investors purchased 13,185 call options on the company. This represents an increase of 126% compared to the average volume of 5,842 call options.
CenturyLink (NYSE:CTL) last issued its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by $0.03. CenturyLink had a net margin of 2.20% and a return on equity of 8.43%. The company had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $4.09 billion. During the same quarter last year, the company earned $0.63 earnings per share. The company’s revenue for the quarter was down 7.0% on a year-over-year basis. On average, analysts forecast that CenturyLink, Inc. will post $1.95 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, September 5th will be paid a dividend of $0.54 per share. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $2.16 dividend on an annualized basis and a dividend yield of 10.60%. CenturyLink’s dividend payout ratio is 313.04%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sentry Investment Management LLC boosted its position in CenturyLink by 0.5% in the second quarter. Sentry Investment Management LLC now owns 37,917 shares of the technology company’s stock worth $905,000 after buying an additional 174 shares in the last quarter. WFG Advisors LP boosted its position in CenturyLink by 18.3% in the second quarter. WFG Advisors LP now owns 83,369 shares of the technology company’s stock worth $1,991,000 after buying an additional 12,913 shares in the last quarter. Toronto Dominion Bank boosted its position in CenturyLink by 19.6% in the second quarter. Toronto Dominion Bank now owns 228,959 shares of the technology company’s stock worth $5,468,000 after buying an additional 37,589 shares in the last quarter. Cetera Investment Advisers acquired a new position in CenturyLink during the second quarter worth approximately $293,000. Finally, Advisory Services Network LLC boosted its position in CenturyLink by 12.8% in the second quarter. Advisory Services Network LLC now owns 22,408 shares of the technology company’s stock worth $535,000 after buying an additional 2,538 shares in the last quarter. 77.77% of the stock is currently owned by hedge funds and other institutional investors.
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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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