Centurylink Inc (NYSE:CTL) – SunTrust Banks raised their FY2019 earnings per share estimates for Centurylink in a research report issued on Thursday, November 7th. SunTrust Banks analyst G. Miller now forecasts that the technology company will post earnings of $1.29 per share for the year, up from their previous estimate of $1.26. SunTrust Banks also issued estimates for Centurylink’s Q4 2019 earnings at $0.30 EPS and FY2020 earnings at $1.57 EPS.

A number of other equities analysts have also recently commented on the stock. TheStreet raised shares of Centurylink from a “d+” rating to a “c” rating in a research report on Thursday, November 7th. Raymond James raised shares of Centurylink from an “underperform” rating to a “market perform” rating in a research report on Thursday, August 8th. ValuEngine raised shares of Centurylink from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Guggenheim cut shares of Centurylink from a “neutral” rating to a “sell” rating and set a $10.00 price objective for the company. in a research report on Wednesday, November 6th. Finally, Wells Fargo & Co lifted their price objective on shares of Centurylink from $14.00 to $15.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $13.16.

NYSE:CTL opened at $15.06 on Monday. Centurylink has a 1-year low of $9.64 and a 1-year high of $19.53. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 2.53. The firm has a fifty day simple moving average of $12.62 and a 200 day simple moving average of $11.68. The stock has a market capitalization of $14.91 billion, a PE ratio of 12.66, a P/E/G ratio of 0.98 and a beta of 0.86.

Centurylink (NYSE:CTL) last released its earnings results on Wednesday, November 6th. The technology company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.01). Centurylink had a negative net margin of 34.77% and a positive return on equity of 8.30%. The firm had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.53 billion. During the same period in the prior year, the business posted $0.30 earnings per share. Centurylink’s quarterly revenue was down 3.6% compared to the same quarter last year.

A number of hedge funds have recently added to or reduced their stakes in CTL. First Trust Advisors LP boosted its position in Centurylink by 312.5% during the second quarter. First Trust Advisors LP now owns 17,971,928 shares of the technology company’s stock worth $211,350,000 after purchasing an additional 13,615,102 shares during the period. Nuveen Asset Management LLC boosted its position in Centurylink by 292.7% during the second quarter. Nuveen Asset Management LLC now owns 7,153,338 shares of the technology company’s stock worth $84,123,000 after purchasing an additional 5,331,862 shares during the period. BlackRock Inc. boosted its position in Centurylink by 5.3% during the second quarter. BlackRock Inc. now owns 91,381,667 shares of the technology company’s stock worth $1,074,649,000 after purchasing an additional 4,592,314 shares during the period. Vanguard Group Inc. boosted its position in Centurylink by 4.3% during the second quarter. Vanguard Group Inc. now owns 111,083,804 shares of the technology company’s stock worth $1,306,346,000 after purchasing an additional 4,537,725 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its position in Centurylink by 52.9% during the second quarter. Parametric Portfolio Associates LLC now owns 5,843,769 shares of the technology company’s stock worth $68,723,000 after purchasing an additional 2,021,983 shares during the period. 73.51% of the stock is owned by hedge funds and other institutional investors.

About Centurylink

CenturyLink, Inc provides various communications services to residential, business, wholesale, and governmental customers in the United States and internationally. The company operates in two segments, Business and Consumer. It offers VPN data network services; Ethernet services; Internet protocol (IP) services; facilities-based Prism TV service, as well as satellite digital television services; CDN services; and Vyvx broadcast services.

Further Reading: Quantitative Easing

Earnings History and Estimates for Centurylink (NYSE:CTL)

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