An issue of CenturyLink, Inc. (NYSE:CTL) debt rose 3% as a percentage of its face value during trading on Monday after Zacks Investment Research downgraded the stock from a hold rating to a sell rating. The high-yield debt issue has a 7.6% coupon and is set to mature on September 15, 2039. The bonds in the issue are now trading at $82.03 and were trading at $87.63 last week. Price changes in a company’s debt in credit markets often anticipate parallel changes in its stock price.
A number of other research analysts have also recently issued reports on CTL. BidaskClub raised shares of CenturyLink from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. Cowen and Company reissued a “neutral” rating on shares of CenturyLink in a research note on Monday, August 14th. ValuEngine upgraded shares of CenturyLink from a “hold” rating to a “buy” rating in a research report on Friday, August 18th. Morgan Stanley cut their target price on shares of CenturyLink from $27.00 to $26.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 23rd. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $25.00 target price on shares of CenturyLink in a research report on Monday, September 18th. Five research analysts have rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $23.07.
Several large investors have recently modified their holdings of the company. CapWealth Advisors LLC lifted its holdings in shares of CenturyLink by 18.0% during the third quarter. CapWealth Advisors LLC now owns 319,897 shares of the technology company’s stock worth $6,046,000 after purchasing an additional 48,840 shares during the period. FDO Partners LLC acquired a new position in shares of CenturyLink during the third quarter worth $1,232,000. HCR Wealth Advisors lifted its holdings in shares of CenturyLink by 45.1% during the third quarter. HCR Wealth Advisors now owns 197,560 shares of the technology company’s stock worth $3,734,000 after purchasing an additional 61,414 shares during the period. Tredje AP fonden lifted its holdings in shares of CenturyLink by 7.0% during the third quarter. Tredje AP fonden now owns 106,164 shares of the technology company’s stock worth $2,006,000 after purchasing an additional 6,920 shares during the period. Finally, Commerzbank Aktiengesellschaft FI lifted its holdings in shares of CenturyLink by 145.7% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 274,816 shares of the technology company’s stock worth $5,194,000 after purchasing an additional 162,976 shares during the period. Institutional investors own 81.74% of the company’s stock.
The stock has a market capitalization of $8,507.95, a price-to-earnings ratio of 7.98, a P/E/G ratio of -4.14 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 0.82.
CenturyLink (NYSE:CTL) last issued 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 analyst estimates of $4.06 billion. CenturyLink had a return on equity of 7.99% and a net margin of 1.89%. CenturyLink’s revenue for the quarter was down 7.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.56 EPS. equities analysts expect that CenturyLink, Inc. will post 1.87 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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