CenturyLink (CTL) Upgraded to Equal Weight by Barclays
Barclays upgraded shares of CenturyLink (NYSE:CTL) from an underweight rating to an equal weight rating in a research note issued to investors on Friday morning. Barclays currently has $16.00 target price on the technology company’s stock.
Several other brokerages have also recently weighed in on CTL. ValuEngine raised CenturyLink from a hold rating to a buy rating in a research note on Friday, August 18th. Zacks Investment Research raised CenturyLink from a sell rating to a hold rating in a research note on Friday, October 13th. SunTrust Banks reissued a hold rating and issued a $25.00 price target on shares of CenturyLink in a research note on Wednesday, November 1st. Jefferies Group decreased their price target on CenturyLink to $17.00 and set a hold rating for the company in a research note on Thursday, November 9th. Finally, Morgan Stanley decreased their price target on CenturyLink from $27.00 to $26.00 and set an overweight rating for the company in a research note on Wednesday, August 23rd. Four 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. CenturyLink presently has an average rating of Hold and a consensus target price of $22.87.
CenturyLink (NYSE CTL) traded up $0.52 during trading on Friday, reaching $16.99. The company’s stock had a trading volume of 23,461,430 shares, compared to its average volume of 18,620,000. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.92. The company has a market capitalization of $18,740.00, a P/E ratio of 8.49, a PEG ratio of -5.28 and a beta of 0.79. CenturyLink has a 1 year low of $13.16 and a 1 year high of $27.61.
The firm also recently announced a quarterly dividend, which was paid on Monday, December 11th. Investors of record on Monday, November 27th were paid a dividend of $0.54 per share. The ex-dividend date was Friday, November 24th. This represents a $2.16 annualized dividend and a yield of 12.71%. CenturyLink’s dividend payout ratio is currently 372.41%.
In other news, Director Virginia Boulet acquired 5,095 shares of CenturyLink stock in a transaction on Monday, December 11th. The stock was purchased at an average price of $15.48 per share, with a total value of $78,870.60. Following the completion of the purchase, the director now owns 42,820 shares of the company’s stock, valued at approximately $662,853.60. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Glen F. Post III acquired 50,000 shares of CenturyLink stock in a transaction on Friday, December 8th. The stock was purchased at an average cost of $14.17 per share, with a total value of $708,500.00. The disclosure for this purchase can be found here. Insiders have purchased 150,595 shares of company stock valued at $2,154,131 in the last ninety days. 0.61% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in the business. Eaton Vance Management lifted its holdings in shares of CenturyLink by 0.5% in the second quarter. Eaton Vance Management now owns 12,640 shares of the technology company’s stock valued at $302,000 after purchasing an additional 57 shares in the last quarter. FTB Advisors Inc. lifted its holdings in shares of CenturyLink by 0.9% in the second quarter. FTB Advisors Inc. now owns 12,348 shares of the technology company’s stock valued at $268,000 after purchasing an additional 116 shares in the last quarter. Sentry Investment Management LLC lifted its holdings in shares of CenturyLink by 0.5% in the second quarter. Sentry Investment Management LLC now owns 37,917 shares of the technology company’s stock valued at $905,000 after purchasing an additional 174 shares in the last quarter. Davidson & Garrard Inc. lifted its holdings in shares of CenturyLink by 0.3% in the second quarter. Davidson & Garrard Inc. now owns 79,655 shares of the technology company’s stock valued at $1,902,000 after purchasing an additional 239 shares in the last quarter. Finally, Utah Retirement Systems lifted its holdings in shares of CenturyLink by 0.5% in the second quarter. Utah Retirement Systems now owns 98,916 shares of the technology company’s stock valued at $2,362,000 after purchasing an additional 500 shares in the last quarter. 82.32% of the stock is owned by hedge funds and other institutional investors.
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CenturyLink Company Profile
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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