Centurylink (CTL) Rating Increased to Neutral at Goldman Sachs Group
Goldman Sachs Group upgraded shares of Centurylink (NYSE:CTL) from a sell rating to a neutral rating in a research report sent to investors on Monday, Marketbeat reports. The firm currently has $19.00 price objective on the technology company’s stock.
Several other analysts have also issued reports on the company. Barclays upgraded Centurylink from an underweight rating to an equal weight rating and set a $16.00 target price on the stock in a report on Friday, December 15th. ValuEngine upgraded Centurylink from a hold rating to a buy rating in a report on Friday, December 1st. Zacks Investment Research lowered Centurylink from a hold rating to a sell rating in a report on Monday, November 13th. Bank of America dropped their target price on Centurylink from $42.00 to $27.00 and set a buy rating on the stock in a report on Friday, November 10th. Finally, Oppenheimer dropped their target price on Centurylink from $28.00 to $20.00 and set an outperform rating on the stock in a report on Friday, November 10th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Centurylink presently has a consensus rating of Hold and an average price target of $22.37.
Centurylink (NYSE:CTL) traded down $0.69 on Monday, reaching $16.54. The company had a trading volume of 13,790,659 shares, compared to its average volume of 16,540,000. Centurylink has a fifty-two week low of $13.16 and a fifty-two week high of $27.61. The company has a market capitalization of $17,680.00, a price-to-earnings ratio of 28.52, a PEG ratio of -7.59 and a beta of 0.79. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.92.
Centurylink (NYSE:CTL) last released its earnings results on Wednesday, November 8th. The technology company reported $0.42 earnings per share (EPS) for the quarter, missing the 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 company had revenue of $4.03 billion for the quarter, compared to the consensus estimate of $4.06 billion. During the same quarter in the previous year, the company posted $0.56 EPS. The business’s revenue was down 7.9% on a year-over-year basis. equities research analysts anticipate that Centurylink will post 1.56 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 11th. Shareholders of record on Monday, November 27th were paid a $0.54 dividend. The ex-dividend date of this dividend was Friday, November 24th. This represents a $2.16 annualized dividend and a yield of 13.06%. Centurylink’s dividend payout ratio is 372.41%.
In other Centurylink news, Director Martha Helena Bejar acquired 7,000 shares of the company’s stock in a transaction on Friday, December 8th. The shares were purchased at an average price of $14.28 per share, for a total transaction of $99,960.00. Following the completion of the purchase, the director now directly owns 25,991 shares of the company’s stock, valued at $371,151.48. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO Jeffrey K. Storey acquired 71,000 shares of the company’s stock in a transaction on Friday, December 8th. The stock was acquired at an average price of $14.30 per share, for a total transaction of $1,015,300.00. Following the purchase, the chief operating officer now directly owns 2,498,668 shares of the company’s stock, valued at $35,730,952.40. The disclosure for this purchase can be found here. Insiders acquired 150,595 shares of company stock worth $2,154,131 in the last 90 days. Corporate insiders own 0.61% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Eaton Vance Management increased its stake in shares of Centurylink by 0.5% during the second quarter. Eaton Vance Management now owns 12,640 shares of the technology company’s stock worth $302,000 after purchasing an additional 57 shares during the period. FTB Advisors Inc. increased its stake in shares of Centurylink by 0.9% during the second quarter. FTB Advisors Inc. now owns 12,348 shares of the technology company’s stock worth $268,000 after purchasing an additional 116 shares during the period. Sentry Investment Management LLC increased its stake in shares of Centurylink by 0.5% during the second quarter. Sentry Investment Management LLC now owns 37,917 shares of the technology company’s stock worth $905,000 after purchasing an additional 174 shares during the period. Moors & Cabot Inc. increased its stake in shares of Centurylink by 2.8% during the second quarter. Moors & Cabot Inc. now owns 19,082 shares of the technology company’s stock worth $457,000 after purchasing an additional 512 shares during the period. Finally, Evercore Wealth Management LLC increased its stake in shares of Centurylink by 4.1% during the second quarter. Evercore Wealth Management LLC now owns 13,885 shares of the technology company’s stock worth $332,000 after purchasing an additional 550 shares during the period. Hedge funds and other institutional investors own 82.32% of the company’s stock.
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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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