Centurylink Inc (NYSE:CTL)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $20.37, but opened at $21.07. Centurylink shares last traded at $20.80, with a volume of 589637 shares changing hands.

Several equities analysts have weighed in on CTL shares. Zacks Investment Research cut Centurylink from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 24th. Royal Bank of Canada lifted their target price on Centurylink to $27.00 and gave the company an “outperform” rating in a research note on Thursday, August 16th. Hanson cut Centurylink from a “neutral” rating to a “sell” rating and set a $19.00 target price on the stock. in a research note on Wednesday, August 22nd. Moffett Nathanson reaffirmed a “sell” rating and set a $23.00 target price on shares of Centurylink in a research note on Wednesday, August 22nd. Finally, Bank of America set a $27.00 target price on Centurylink and gave the company a “buy” rating in a research note on Wednesday, August 8th. Three research 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. The stock currently has a consensus rating of “Hold” and a consensus target price of $21.24.

The company has a market cap of $24.75 billion, a P/E ratio of 14.21, a P/E/G ratio of -14.25 and a beta of 0.83. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.98 and a quick ratio of 0.98.

Centurylink (NYSE:CTL) last announced its quarterly earnings results on Wednesday, August 8th. The technology company reported $0.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.03. The business had revenue of $5.90 billion during the quarter, compared to analysts’ expectations of $5.92 billion. Centurylink had a return on equity of 4.50% and a net margin of 7.62%. The firm’s quarterly revenue was up 44.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.46 EPS. equities analysts anticipate that Centurylink Inc will post 1.07 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 14th. Investors of record on Friday, August 31st were paid a $0.54 dividend. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $2.16 annualized dividend and a dividend yield of 10.36%. Centurylink’s payout ratio is 146.94%.

In related news, Director Glen F. Post III sold 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $24.00, for a total value of $3,600,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.60% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Migdal Insurance & Financial Holdings Ltd. boosted its position in Centurylink by 16,940.6% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,453 shares of the technology company’s stock worth $102,000 after purchasing an additional 5,421 shares during the period. Rehmann Capital Advisory Group boosted its position in Centurylink by 210.7% during the second quarter. Rehmann Capital Advisory Group now owns 5,873 shares of the technology company’s stock worth $109,000 after purchasing an additional 3,983 shares during the period. Baker Ellis Asset Management LLC bought a new stake in Centurylink during the second quarter worth approximately $110,000. AdvisorNet Financial Inc boosted its position in Centurylink by 118.4% during the second quarter. AdvisorNet Financial Inc now owns 6,422 shares of the technology company’s stock worth $120,000 after purchasing an additional 3,482 shares during the period. Finally, Archford Capital Strategies LLC bought a new stake in Centurylink during the first quarter worth approximately $130,000. 76.98% of the stock is owned by institutional investors and hedge funds.

Centurylink Company Profile (NYSE:CTL)

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.

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