Barings LLC Continues to Hold Position in CenturyLink, Inc. (CTL)
Barings LLC held its stake in shares of CenturyLink, Inc. (NYSE:CTL) during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 96,989 shares of the technology company’s stock at the close of the 2nd quarter. Barings LLC’s holdings in CenturyLink were worth $2,286,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also made changes to their positions in CTL. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of CenturyLink in the first quarter worth approximately $221,000. Pacer Advisors Inc. boosted its position in shares of CenturyLink by 3.4% in the first quarter. Pacer Advisors Inc. now owns 10,042 shares of the technology company’s stock worth $237,000 after purchasing an additional 329 shares during the period. Nordea Investment Management AB boosted its position in shares of CenturyLink by 1.9% in the first quarter. Nordea Investment Management AB now owns 24,011 shares of the technology company’s stock worth $566,000 after purchasing an additional 444 shares during the period. Victory Capital Management Inc. boosted its position in shares of CenturyLink by 33.0% in the first quarter. Victory Capital Management Inc. now owns 294,342 shares of the technology company’s stock worth $6,937,000 after purchasing an additional 72,995 shares during the period. Finally, Alliancebernstein L.P. boosted its position in shares of CenturyLink by 12.2% in the first quarter. Alliancebernstein L.P. now owns 1,069,696 shares of the technology company’s stock worth $25,213,000 after purchasing an additional 115,916 shares during the period. Institutional investors own 83.04% of the company’s stock.
CenturyLink, Inc. (NYSE CTL) opened at 20.00 on Friday. The company has a market cap of $10.99 billion, a price-to-earnings ratio of 28.99 and a beta of 0.89. CenturyLink, Inc. has a 12 month low of $18.17 and a 12 month high of $33.45. The company’s 50 day moving average is $19.38 and its 200-day moving average is $22.97.
CenturyLink (NYSE:CTL) last released its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.03). CenturyLink had a net margin of 2.20% and a return on equity of 8.43%. The company had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.09 billion. During the same period in the prior year, the business posted $0.63 EPS. CenturyLink’s revenue was down 7.0% compared to the same quarter last year. On average, analysts expect that CenturyLink, Inc. will post $1.94 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Tuesday, September 5th were paid a $0.54 dividend. The ex-dividend date was Thursday, August 31st. This represents a $2.16 dividend on an annualized basis and a yield of 10.80%. CenturyLink’s dividend payout ratio is currently 313.04%.
A number of equities analysts have weighed in on the stock. Barclays PLC dropped their price target on shares of CenturyLink from $23.00 to $19.00 and set an “underweight” rating for the company in a research report on Wednesday. Jefferies Group LLC reiterated a “hold” rating and issued a $22.00 price target on shares of CenturyLink in a research report on Tuesday, October 3rd. Royal Bank Of Canada reiterated a “hold” rating and issued a $25.00 price target on shares of CenturyLink in a research report on Monday, September 18th. ValuEngine lowered shares of CenturyLink from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, Zacks Investment Research lowered shares of CenturyLink from a “hold” rating to a “strong sell” rating in a research report on Friday, August 25th. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. CenturyLink presently has a consensus rating of “Hold” and an average price target of $25.55.
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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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