Centurylink (CTL) Given a $20.00 Price Target at Cowen
CTL has been the topic of several other research reports. Jefferies Financial Group raised shares of Centurylink from a hold rating to a buy rating in a research report on Tuesday, June 26th. ValuEngine raised shares of Centurylink from a hold rating to a buy rating in a research report on Wednesday, August 15th. Morgan Stanley boosted their target price on shares of Centurylink from $21.60 to $25.00 and gave the stock an overweight rating in a research report on Wednesday, August 15th. Barclays restated a hold rating and set a $21.00 price objective on shares of Centurylink in a research note on Friday, August 10th. Finally, Citigroup lifted their price objective on shares of Centurylink from $17.00 to $19.00 and gave the company a neutral rating in a research note on Thursday, August 9th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. Centurylink presently has an average rating of Hold and a consensus price target of $21.24.
NYSE:CTL opened at $21.05 on Tuesday. The company has a market cap of $24.75 billion, a price-to-earnings ratio of 14.32, a P/E/G ratio of -14.25 and a beta of 0.83. Centurylink has a twelve month low of $13.16 and a twelve month high of $24.20. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.60.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 14th. Shareholders of record on Friday, August 31st were paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 10.26%. The ex-dividend date was Thursday, August 30th. Centurylink’s payout ratio is 146.94%.
In other Centurylink news, Director Glen F. Post III sold 150,000 shares of Centurylink stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $24.00, for a total transaction of $3,600,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.60% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Temasek Holdings Private Ltd lifted its stake in shares of Centurylink by 16.4% in the 2nd quarter. Temasek Holdings Private Ltd now owns 123,201,207 shares of the technology company’s stock valued at $2,296,470,000 after purchasing an additional 17,339,784 shares during the period. Fiduciary Management Inc. WI lifted its stake in shares of Centurylink by 5.7% in the 1st quarter. Fiduciary Management Inc. WI now owns 18,455,072 shares of the technology company’s stock valued at $303,217,000 after purchasing an additional 992,063 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Centurylink by 5.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 12,817,283 shares of the technology company’s stock valued at $238,924,000 after purchasing an additional 627,080 shares during the period. Epoch Investment Partners Inc. lifted its stake in shares of Centurylink by 17.2% in the 1st quarter. Epoch Investment Partners Inc. now owns 6,388,838 shares of the technology company’s stock valued at $104,969,000 after purchasing an additional 936,766 shares during the period. Finally, Beck Mack & Oliver LLC lifted its stake in shares of Centurylink by 10.5% in the 2nd quarter. Beck Mack & Oliver LLC now owns 6,227,820 shares of the technology company’s stock valued at $116,087,000 after purchasing an additional 593,105 shares during the period. Hedge funds and other institutional investors own 76.98% of the company’s stock.
CenturyLink, Inc provides various communications services to residential, business, wholesale, and governmental customers primarily in the United States. It operates in two segments, Business and Consumer. The company offers virtual private network data network services; Ethernet services; Internet protocol services; CenturyLink Prism TV that allows customers to watch television or cable channels and record up to four shows on one home digital video recorder; and Vyvx, which provides audio and video feeds over fiber or satellite for broadcast and production customers, as well as satellite digital television services.
Further Reading: Return on Equity (ROE)
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