CenturyLink, Inc. (NYSE:CTL) Position Cut by HL Financial Services LLC
HL Financial Services LLC reduced its position in shares of CenturyLink, Inc. (NYSE:CTL) by 2.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,625 shares of the technology company’s stock after selling 1,055 shares during the period. HL Financial Services LLC’s holdings in CenturyLink were worth $1,066,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the stock. Endurance Wealth Management Inc. increased its stake in CenturyLink by 18.5% in the second quarter. Endurance Wealth Management Inc. now owns 4,650 shares of the technology company’s stock worth $111,000 after buying an additional 725 shares during the period. FNY Managed Accounts LLC acquired a new stake in CenturyLink during the first quarter worth approximately $120,000. Exane Derivatives increased its stake in CenturyLink by 29.7% in the first quarter. Exane Derivatives now owns 5,209 shares of the technology company’s stock worth $123,000 after buying an additional 1,194 shares during the period. Ledyard National Bank increased its stake in CenturyLink by 7,467.0% in the first quarter. Ledyard National Bank now owns 7,340 shares of the technology company’s stock worth $173,000 after buying an additional 7,243 shares during the period. Finally, State of Alaska Department of Revenue acquired a new stake in CenturyLink during the first quarter worth approximately $200,000. 78.04% of the stock is owned by institutional investors.
CenturyLink, Inc. (NYSE:CTL) opened at 21.68 on Friday. The company has a 50-day moving average of $23.25 and a 200 day moving average of $24.35. The firm has a market cap of $11.92 billion, a P/E ratio of 31.42 and a beta of 0.87. CenturyLink, Inc. has a 52 week low of $21.61 and a 52 week high of $33.45. CenturyLink also was the target of some unusual options trading on Tuesday. Investors acquired 20,516 call options on the stock. This is an increase of approximately 363% compared to the average daily volume of 4,432 call options.
CenturyLink (NYSE:CTL) last announced its earnings results on Wednesday, August 2nd. The technology company reported $0.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by $0.03. CenturyLink had a net margin of 2.20% and a return on equity of 8.43%. The firm had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.09 billion. During the same period in the prior year, the business earned $0.63 EPS. The company’s quarterly revenue was down 7.0% compared to the same quarter last year. On average, equities analysts predict that CenturyLink, Inc. will post $1.95 earnings per share for the current year.
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CTL has been the subject of a number of recent analyst reports. Bank of America Corporation reissued a “buy” rating on shares of CenturyLink in a report on Tuesday, May 9th. Vetr raised CenturyLink from a “hold” rating to a “buy” rating and set a $27.12 target price for the company in a report on Monday, May 1st. Zacks Investment Research raised CenturyLink from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a report on Wednesday, April 26th. UBS AG set a $29.00 target price on CenturyLink and gave the company a “buy” rating in a report on Thursday, June 22nd. Finally, BidaskClub downgraded CenturyLink from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $26.22.
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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