Investors Sell Shares of CenturyLink (CTL) on Strength (CTL)
Investors sold shares of CenturyLink, Inc. (NYSE:CTL) on strength during trading on Monday. $67.99 million flowed into the stock on the tick-up and $190.71 million flowed out of the stock on the tick-down, for a money net flow of $122.72 million out of the stock. Of all equities tracked, CenturyLink had the 0th highest net out-flow for the day. CenturyLink traded up $1.20 for the day and closed at $15.87
A number of research analysts have weighed in on CTL shares. UBS dropped their price objective on shares of CenturyLink from $29.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, November 9th. Cowen reiterated a “hold” rating and set a $24.00 price target on shares of CenturyLink in a report on Thursday, October 19th. Bank of America lowered their price target on shares of CenturyLink from $42.00 to $27.00 and set a “buy” rating for the company in a report on Friday, November 10th. Zacks Investment Research lowered shares of CenturyLink from a “hold” rating to a “strong sell” rating in a report on Friday, August 25th. Finally, Deutsche Bank reiterated a “hold” rating and set a $16.00 price target on shares of CenturyLink in a report on Thursday, November 9th. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $23.07.
The company has a market capitalization of $16,965.08, a PE ratio of 8.18, a price-to-earnings-growth ratio of -4.96 and a beta of 0.79. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.92.
CenturyLink (NYSE:CTL) last released its earnings results on Wednesday, November 8th. The technology company reported $0.42 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.03). CenturyLink had a return on equity of 7.99% and a net margin of 1.89%. The business had revenue of $4.03 billion during the quarter, compared to analysts’ expectations of $4.06 billion. During the same period in the prior year, the company earned $0.56 earnings per share. The firm’s quarterly revenue was down 7.9% compared to the same quarter last year. equities analysts expect that CenturyLink, Inc. will post 1.6 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, December 11th. Investors of record on Monday, November 27th were given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 13.23%. The ex-dividend date of this dividend was Friday, November 24th. CenturyLink’s dividend payout ratio (DPR) is 372.42%.
In other news, Director Virginia Boulet acquired 5,095 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The shares were bought at an average cost of $15.48 per share, with a total value of $78,870.60. Following the transaction, the director now owns 42,820 shares of the company’s stock, valued at approximately $662,853.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Glen F. Post III acquired 50,000 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The shares were purchased at an average cost of $14.17 per share, for a total transaction of $708,500.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 150,595 shares of company stock worth $2,154,131 over the last three months. 0.61% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of CTL. Strs Ohio grew its stake in CenturyLink by 16.0% in the second quarter. Strs Ohio now owns 36,808 shares of the technology company’s stock valued at $878,000 after purchasing an additional 5,087 shares during the last quarter. Retirement Systems of Alabama grew its holdings in CenturyLink by 0.7% during the 2nd quarter. Retirement Systems of Alabama now owns 266,094 shares of the technology company’s stock worth $6,354,000 after acquiring an additional 1,891 shares during the period. Canada Pension Plan Investment Board boosted its position in shares of CenturyLink by 132.4% during the second quarter. Canada Pension Plan Investment Board now owns 108,659 shares of the technology company’s stock worth $2,595,000 after purchasing an additional 61,913 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of CenturyLink by 13.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 2,419,896 shares of the technology company’s stock worth $57,788,000 after purchasing an additional 278,747 shares in the last quarter. Finally, National Planning Corp boosted its position in shares of CenturyLink by 4.2% during the second quarter. National Planning Corp now owns 11,331 shares of the technology company’s stock worth $272,000 after purchasing an additional 453 shares in the last quarter. Institutional investors and hedge funds own 82.32% of the company’s stock.
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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