CenturyLink’s (CTL) Hold Rating Reaffirmed at Jefferies Group LLC
Jefferies Group LLC reiterated their hold rating on shares of CenturyLink, Inc. (NYSE:CTL) in a research report report published on Tuesday. Jefferies Group LLC currently has a $22.00 price target on the technology company’s stock.
Several other research firms have also recently weighed in on CTL. ValuEngine cut CenturyLink from a buy rating to a hold rating in a research report on Friday, September 1st. Barclays PLC lowered their target price on CenturyLink from $24.00 to $23.00 and set an underweight rating for the company in a research note on Thursday, June 29th. Cowen and Company raised their target price on CenturyLink from $25.00 to $27.00 and gave the company a market perform rating in a research note on Wednesday, July 5th. BidaskClub lowered CenturyLink from a buy rating to a hold rating in a research report on Tuesday, June 20th. Finally, Morgan Stanley reduced their price target on CenturyLink from $27.00 to $26.00 and set an overweight rating on the stock in a research note on Wednesday, August 23rd. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $25.79.
Shares of CenturyLink (NYSE CTL) traded down 0.3152% during mid-day trading on Tuesday, reaching $20.1164. The company had a trading volume of 5,913,954 shares. CenturyLink has a 12-month low of $18.17 and a 12-month high of $33.45. The firm has a 50-day moving average of $19.40 and a 200-day moving average of $23.04. The company has a market capitalization of $11.06 billion, a P/E ratio of 29.1542 and a beta of 0.89.
CenturyLink (NYSE:CTL) last issued its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.03). The company had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.09 billion. CenturyLink had a return on equity of 8.43% and a net margin of 2.20%. The firm’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.63 earnings per share. On average, equities analysts anticipate that CenturyLink will post $1.94 earnings per share for the current fiscal year.
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The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Tuesday, September 5th were given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 10.70%. The ex-dividend date was Thursday, August 31st. CenturyLink’s dividend payout ratio (DPR) is currently 313.04%.
Hedge funds have recently added to or reduced their stakes in the stock. Endurance Wealth Management Inc. boosted its stake in CenturyLink by 18.5% during the 2nd quarter. Endurance Wealth Management Inc. now owns 4,650 shares of the technology company’s stock valued at $111,000 after purchasing an additional 725 shares during the last quarter. FNY Managed Accounts LLC purchased a new position in shares of CenturyLink in the first quarter worth $120,000. Exane Derivatives raised its stake in shares of CenturyLink by 27.6% in the second quarter. Exane Derivatives now owns 6,645 shares of the technology company’s stock worth $159,000 after purchasing an additional 1,436 shares during the last quarter. First City Capital Management Inc. purchased a new position in shares of CenturyLink in the first quarter worth $215,000. Finally, Tower Research Capital LLC TRC purchased a new position in shares of CenturyLink in the second quarter worth $197,000. 83.04% of the stock is currently owned by institutional investors and hedge funds.
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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