An issue of CenturyLink, Inc. (NYSE:CTL) debt rose 1.7% against its face value during trading on Friday after Bank of America Corporation lowered their price target on the stock from $42.00 to $27.00. The high-yield issue of debt has a 5.8% coupon and is set to mature on March 15, 2022. The bonds in the issue are now trading at $95.22 and were trading at $100.25 last week. Price moves in a company’s debt in credit markets sometimes anticipate parallel moves in its stock price.
CTL has been the topic of several other reports. UBS AG lowered their price target on CenturyLink from $29.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday. Cowen and Company reaffirmed a “hold” rating and issued a $24.00 price target on shares of CenturyLink in a research report on Thursday, October 19th. Zacks Investment Research downgraded CenturyLink from a “hold” rating to a “strong sell” rating in a research report on Friday, August 25th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $16.00 price target on shares of CenturyLink in a research report on Thursday. Finally, BidaskClub raised CenturyLink from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $23.07.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in CenturyLink by 22.6% during the second quarter. Vanguard Group Inc. now owns 57,351,163 shares of the technology company’s stock worth $1,369,547,000 after purchasing an additional 10,583,246 shares during the period. Dimensional Fund Advisors LP lifted its stake in CenturyLink by 3.2% during the second quarter. Dimensional Fund Advisors LP now owns 9,689,431 shares of the technology company’s stock worth $231,404,000 after purchasing an additional 301,671 shares during the period. Northern Trust Corp lifted its stake in CenturyLink by 1.4% during the second quarter. Northern Trust Corp now owns 6,978,167 shares of the technology company’s stock worth $166,639,000 after purchasing an additional 95,821 shares during the period. Capital World Investors bought a new position in CenturyLink during the second quarter worth about $142,086,000. Finally, Epoch Investment Partners Inc. lifted its stake in CenturyLink by 5.2% during the second quarter. Epoch Investment Partners Inc. now owns 4,974,938 shares of the technology company’s stock worth $118,801,000 after purchasing an additional 244,347 shares during the period. Hedge funds and other institutional investors own 82.51% of the company’s stock.
The stock has a market capitalization of $8,507.95, a P/E ratio of 7.98, a P/E/G ratio of -4.02 and a beta of 0.88. The company has a debt-to-equity ratio of 1.92, a current ratio of 0.82 and a quick ratio of 0.90.
CenturyLink (NYSE:CTL) last announced its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.03). The business had revenue of $4.03 billion for the quarter, compared to the consensus estimate of $4.06 billion. CenturyLink had a return on equity of 7.99% and a net margin of 1.89%. The firm’s revenue for the quarter was down 7.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.56 EPS. equities research analysts anticipate that CenturyLink, Inc. will post 1.92 earnings per share for the current year.
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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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