Bank of America Corporation Trims CenturyLink, Inc. (CTL) Target Price to $27.00
CenturyLink, Inc. (NYSE:CTL) had its price objective trimmed by Bank of America Corporation from $42.00 to $27.00 in a report published on Friday. The brokerage currently has a buy rating on the technology company’s stock.
Several other analysts also recently commented on CTL. Oppenheimer Holdings, Inc. lowered their price objective on CenturyLink from $28.00 to $20.00 and set an outperform rating for the company in a research note on Friday. Zacks Investment Research raised CenturyLink from a sell rating to a hold rating in a research note on Friday, October 13th. Deutsche Bank AG reissued a hold rating and issued a $16.00 price objective on shares of CenturyLink in a research note on Thursday. SunTrust Banks, Inc. reissued a hold rating and issued a $25.00 price objective on shares of CenturyLink in a research note on Wednesday, November 1st. Finally, Jefferies Group LLC lowered their price objective on CenturyLink to $17.00 and set a hold rating for the company in a research note on Thursday. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $23.07.
CenturyLink (NYSE CTL) opened at $15.48 on Friday. CenturyLink has a 52 week low of $14.60 and a 52 week high of $27.61. The company has a debt-to-equity ratio of 1.92, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market capitalization of $8,507.95, a P/E ratio of 7.98, a P/E/G ratio of -4.14 and a beta of 0.88.
CenturyLink (NYSE:CTL) last posted its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $4.06 billion. During the same period last year, the company posted $0.56 earnings per share. The firm’s quarterly revenue was down 7.9% compared to the same quarter last year. analysts anticipate that CenturyLink will post 1.87 earnings per share for the current year.
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Institutional investors and hedge funds have recently modified their holdings of the stock. Tredje AP fonden increased its position in shares of CenturyLink by 47.1% during the second quarter. Tredje AP fonden now owns 99,244 shares of the technology company’s stock valued at $2,370,000 after acquiring an additional 31,767 shares during the last quarter. Swiss National Bank increased its position in shares of CenturyLink by 0.5% during the second quarter. Swiss National Bank now owns 1,902,241 shares of the technology company’s stock valued at $45,426,000 after acquiring an additional 9,400 shares during the last quarter. Synovus Financial Corp grew its holdings in CenturyLink by 20.3% during the second quarter. Synovus Financial Corp now owns 218,719 shares of the technology company’s stock valued at $5,242,000 after purchasing an additional 36,937 shares during the period. Front Street Capital Management Inc. grew its holdings in CenturyLink by 94.2% during the second quarter. Front Street Capital Management Inc. now owns 95,448 shares of the technology company’s stock valued at $2,279,000 after purchasing an additional 46,305 shares during the period. Finally, Fiduciary Management Inc. WI bought a new position in CenturyLink during the second quarter valued at $86,411,000. 81.74% of the stock is owned by institutional investors.
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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