First Trust Advisors LP Acquires 95,507 Shares of CenturyLink, Inc. (NYSE:CTL)
First Trust Advisors LP raised its stake in CenturyLink, Inc. (NYSE:CTL) by 2.2% during the second quarter, according to its most recent filing with the SEC. The fund owned 4,365,936 shares of the technology company’s stock after buying an additional 95,507 shares during the period. First Trust Advisors LP’s holdings in CenturyLink were worth $104,259,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Endurance Wealth Management Inc. boosted its position in shares of CenturyLink by 18.5% in the second quarter. Endurance Wealth Management Inc. now owns 4,650 shares of the technology company’s stock valued at $111,000 after buying an additional 725 shares in the last quarter. FNY Managed Accounts LLC acquired a new position in shares of CenturyLink during the first quarter valued at approximately $120,000. Exane Derivatives boosted its position in shares of CenturyLink by 29.7% in the first quarter. Exane Derivatives now owns 5,209 shares of the technology company’s stock valued at $123,000 after buying an additional 1,194 shares in the last quarter. Ledyard National Bank boosted its position in shares of CenturyLink by 7,467.0% in the first quarter. Ledyard National Bank now owns 7,340 shares of the technology company’s stock valued at $173,000 after buying an additional 7,243 shares in the last quarter. Finally, State of Alaska Department of Revenue acquired a new position in shares of CenturyLink during the first quarter valued at approximately $200,000. 78.04% of the stock is currently owned by institutional investors.
Shares of CenturyLink, Inc. (CTL) opened at 21.68 on Friday. CenturyLink, Inc. has a 12 month low of $21.61 and a 12 month high of $33.45. The firm 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 price-to-earnings ratio of 31.42 and a beta of 0.87. CenturyLink also was the target of unusually large options trading activity on Tuesday. Stock traders bought 20,516 call options on the company. This is an increase of approximately 363% compared to the typical volume of 4,432 call options.
CenturyLink (NYSE:CTL) last released its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.46 EPS for the quarter, missing the Zacks’ consensus estimate of $0.49 by $0.03. CenturyLink had a return on equity of 8.43% and a net margin of 2.20%. The company had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.09 billion. During the same period in the prior year, the firm earned $0.63 EPS. CenturyLink’s quarterly revenue was down 7.0% on a year-over-year basis. On average, analysts anticipate that CenturyLink, Inc. will post $1.95 EPS for the current year.
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Several research analysts have recently commented on CTL shares. Bank of America Corporation reaffirmed a “buy” rating on shares of CenturyLink in a report on Tuesday, May 9th. Vetr raised shares of CenturyLink from a “hold” rating to a “buy” rating and set a $27.12 target price on the stock in a report on Monday, May 1st. Zacks Investment Research raised shares of CenturyLink from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a report on Wednesday, April 26th. UBS AG set a $29.00 target price on shares of CenturyLink and gave the stock a “buy” rating in a report on Thursday, June 22nd. Finally, BidaskClub lowered shares of CenturyLink from a “buy” rating to a “hold” rating in a research report on Tuesday, June 20th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. CenturyLink presently has a consensus rating of “Hold” and a consensus target price 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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