Gabelli Funds LLC Reduces Holdings in CenturyLink, Inc. (CTL)
Gabelli Funds LLC cut its position in CenturyLink, Inc. (NYSE:CTL) by 11.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 375,500 shares of the technology company’s stock after selling 50,000 shares during the quarter. Gabelli Funds LLC owned 0.07% of CenturyLink worth $7,097,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in CenturyLink by 22.6% in the second quarter. Vanguard Group Inc. now owns 57,351,163 shares of the technology company’s stock valued at $1,369,547,000 after purchasing an additional 10,583,246 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of CenturyLink by 3.2% in the second quarter. Dimensional Fund Advisors LP now owns 9,689,431 shares of the technology company’s stock valued at $231,404,000 after buying an additional 301,671 shares during the period. Northern Trust Corp increased its stake in shares of CenturyLink by 1.4% in the second quarter. Northern Trust Corp now owns 6,978,167 shares of the technology company’s stock valued at $166,639,000 after buying an additional 95,821 shares during the period. Capital World Investors acquired a new stake in shares of CenturyLink in the second quarter valued at about $142,086,000. Finally, Epoch Investment Partners Inc. increased its stake in shares of CenturyLink by 5.2% in the second quarter. Epoch Investment Partners Inc. now owns 4,974,938 shares of the technology company’s stock valued at $118,801,000 after buying an additional 244,347 shares during the period. Hedge funds and other institutional investors own 82.51% of the company’s stock.
CTL has been the subject of several recent analyst reports. Oppenheimer Holdings, Inc. decreased their target price on CenturyLink from $28.00 to $20.00 and set an “outperform” rating for the company in a research note on Friday. Zacks Investment Research raised CenturyLink from a “sell” rating to a “hold” rating in a research note on Friday, October 13th. SunTrust Banks, Inc. reaffirmed a “hold” rating and set a $25.00 target price on shares of CenturyLink in a research note on Wednesday, November 1st. Deutsche Bank AG reissued a “hold” rating and issued a $16.00 price objective on shares of CenturyLink in a research note on Thursday. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $22.00 price objective on shares of CenturyLink in a research note on Tuesday, October 3rd. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $23.07.
Shares of CenturyLink, Inc. (NYSE:CTL) opened at $15.48 on Friday. The company has a market capitalization of $8,507.95, a price-to-earnings ratio of 7.98, a P/E/G ratio of -4.02 and a beta of 0.88. The company has a current ratio of 0.82, a quick ratio of 0.90 and a debt-to-equity ratio of 1.92. CenturyLink, Inc. has a fifty-two week low of $14.60 and a fifty-two week high of $27.61.
CenturyLink (NYSE:CTL) last issued its earnings results on Wednesday, November 8th. The technology company reported $0.42 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.03). The firm had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $4.06 billion. CenturyLink had a net margin of 1.89% and a return on equity of 7.99%. The business’s quarterly revenue was down 7.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.56 earnings per share. analysts anticipate that CenturyLink, Inc. will post 1.87 EPS for the current fiscal year.
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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