Alps Advisors Inc. Grows Stake in CenturyLink, Inc. (CTL)
Alps Advisors Inc. lifted its stake in shares of CenturyLink, Inc. (NYSE:CTL) by 36.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,468,333 shares of the technology company’s stock after acquiring an additional 658,878 shares during the quarter. Alps Advisors Inc. owned 0.45% of CenturyLink worth $46,651,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in CTL. Vanguard Group Inc. boosted its stake in shares of CenturyLink by 22.6% during the 2nd quarter. Vanguard Group Inc. now owns 57,351,163 shares of the technology company’s stock worth $1,369,547,000 after acquiring an additional 10,583,246 shares in the last quarter. Capital World Investors bought a new stake in shares of CenturyLink during the 2nd quarter worth $142,086,000. Standard Life Investments LTD bought a new stake in shares of CenturyLink during the 2nd quarter worth $112,613,000. Fiduciary Management Inc. WI bought a new stake in shares of CenturyLink during the 2nd quarter worth $86,411,000. Finally, Samlyn Capital LLC bought a new stake in shares of CenturyLink during the 2nd quarter worth $80,290,000. 82.51% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently weighed in on the company. BidaskClub raised CenturyLink from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. Cowen and Company restated a “neutral” rating on shares of CenturyLink in a report on Monday, August 14th. Zacks Investment Research upgraded CenturyLink from a “sell” rating to a “hold” rating in a report on Friday, October 13th. Barclays PLC reduced their target price on CenturyLink from $23.00 to $19.00 and set an “underweight” rating for the company in a report on Wednesday, October 4th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $22.00 target price on shares of CenturyLink in a report on Tuesday, October 3rd. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. CenturyLink has an average rating of “Hold” and an average price target of $23.07.
Shares of CenturyLink, Inc. (NYSE:CTL) remained flat at $$15.48 during trading hours on Friday. The company’s stock had a trading volume of 19,297,426 shares, compared to its average volume of 17,244,036. 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, Inc. has a 52-week low of $14.60 and a 52-week high of $27.61. The firm has a market capitalization of $8,507.95, a PE ratio of 7.98, a price-to-earnings-growth ratio of -4.02 and a beta of 0.88.
CenturyLink (NYSE:CTL) last announced its quarterly earnings data on Wednesday, November 8th. The technology company reported $0.42 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.03). CenturyLink had a return on equity of 7.99% and a net margin of 1.89%. The firm had revenue of $4.03 billion for the quarter, compared to analysts’ expectations of $4.06 billion. During the same quarter in the prior year, the business posted $0.56 earnings per share. CenturyLink’s revenue was down 7.9% on a year-over-year basis. equities analysts anticipate that CenturyLink, Inc. will post 1.92 EPS for the current year.
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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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