Centurylink (CTL) Bond Prices Rise 1%

An issue of Centurylink Inc (NYSE:CTL) bonds rose 1% against their face value during trading on Tuesday. The high-yield issue of debt has a 5.625% coupon and is set to mature on April 1, 2020. The debt is now trading at $102.71 and was trading at $100.50 last week. Price changes in a company’s bonds in credit markets sometimes anticipate parallel changes in its stock price.

A number of research firms have weighed in on CTL. JPMorgan Chase & Co. reissued a “buy” rating and set a $26.00 price objective on shares of Centurylink in a research note on Thursday, November 9th. Barclays reissued a “hold” rating and set a $17.00 price objective on shares of Centurylink in a research note on Friday. Zacks Investment Research raised Centurylink from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 9th. Oppenheimer reissued a “buy” rating and set a $20.00 price objective on shares of Centurylink in a research note on Tuesday, January 9th. Finally, ValuEngine raised Centurylink from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $22.08.

Shares of Centurylink Inc (CTL) traded down $0.46 during trading on Tuesday, hitting $18.47. The stock had a trading volume of 13,563,786 shares, compared to its average volume of 12,870,000. Centurylink Inc has a twelve month low of $13.16 and a twelve month high of $27.61. The firm has a market cap of $19,740.00, a price-to-earnings ratio of 6.16, a PEG ratio of -9.18 and a beta of 0.82. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 1.59.

Centurylink (NYSE:CTL) last announced its quarterly earnings results on Wednesday, February 14th. The technology company reported $0.18 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.14). Centurylink had a net margin of 7.87% and a return on equity of 5.88%. The business had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.69 billion. During the same period last year, the company earned $0.54 EPS. research analysts expect that Centurylink Inc will post 1.03 earnings per share for the current year.

In other Centurylink news, CEO Glen F. Post III purchased 50,000 shares of the firm’s stock in a transaction dated Friday, December 8th. The shares were acquired at an average price of $14.17 per share, with a total value of $708,500.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Jeffrey K. Storey purchased 71,000 shares of the firm’s stock in a transaction dated Friday, December 8th. The stock was acquired at an average cost of $14.30 per share, for a total transaction of $1,015,300.00. Following the purchase, the chief operating officer now owns 2,498,668 shares in the company, valued at $35,730,952.40. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 150,595 shares of company stock worth $2,154,131. Corporate insiders own 0.61% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Fieldpoint Private Securities LLC acquired a new position in Centurylink during the 3rd quarter worth about $115,000. Bessemer Group Inc. increased its holdings in Centurylink by 132.3% during the 4th quarter. Bessemer Group Inc. now owns 6,264 shares of the technology company’s stock worth $104,000 after purchasing an additional 3,568 shares during the period. Citizens Financial Group Inc RI purchased a new stake in Centurylink during the 4th quarter worth about $111,000. Patriot Financial Group Insurance Agency LLC increased its holdings in Centurylink by 178.6% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 6,684 shares of the technology company’s stock worth $134,000 after purchasing an additional 4,285 shares during the period. Finally, Bronfman E.L. Rothschild L.P. increased its holdings in Centurylink by 250.8% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 6,753 shares of the technology company’s stock worth $113,000 after purchasing an additional 4,828 shares during the period. 59.37% 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 Enterprise, 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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