SG Americas Securities LLC Buys 413,705 Shares of CenturyLink, Inc. (CTL)
SG Americas Securities LLC boosted its stake in shares of CenturyLink, Inc. (NYSE:CTL) by 329.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 539,282 shares of the technology company’s stock after purchasing an additional 413,705 shares during the quarter. SG Americas Securities LLC owned about 0.10% of CenturyLink worth $10,192,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in CenturyLink by 22.6% during 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 in the last quarter. Dimensional Fund Advisors LP boosted its position in CenturyLink by 3.2% during 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 purchasing an additional 301,671 shares in the last quarter. Northern Trust Corp boosted its position in CenturyLink by 1.4% during the second quarter. Northern Trust Corp now owns 6,978,167 shares of the technology company’s stock valued at $166,639,000 after purchasing an additional 95,821 shares in the last quarter. Capital World Investors bought a new stake in CenturyLink during the second quarter valued at about $142,086,000. Finally, Epoch Investment Partners Inc. boosted its position in CenturyLink by 5.2% during 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 purchasing an additional 244,347 shares in the last quarter. 81.74% of the stock is currently owned by institutional investors.
A number of brokerages recently weighed in on CTL. Zacks Investment Research downgraded CenturyLink from a “hold” rating to a “sell” rating in a research report on Monday. Bank of America Corporation dropped their price objective on CenturyLink from $42.00 to $27.00 and set a “buy” rating on the stock in a research report on Friday, November 10th. Oppenheimer Holdings, Inc. dropped their price objective on CenturyLink from $28.00 to $20.00 and set an “outperform” rating on the stock in a research report on Friday, November 10th. Jefferies Group LLC dropped their price objective on CenturyLink to $17.00 and set a “hold” rating on the stock in a research report on Thursday, November 9th. Finally, UBS AG dropped their price objective on CenturyLink from $29.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, November 9th. Five research analysts have rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. CenturyLink has a consensus rating of “Hold” and an average price target of $23.07.
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Shares of CenturyLink, Inc. (NYSE:CTL) traded down $0.03 during trading hours on Friday, hitting $14.75. The stock had a trading volume of 13,027,600 shares, compared to its average volume of 10,414,333. CenturyLink, Inc. has a 1 year low of $14.06 and a 1 year high of $27.61. The stock has a market capitalization of $15,810.00, a PE ratio of 7.62, a price-to-earnings-growth ratio of -4.66 and a beta of 0.88. The company has a debt-to-equity ratio of 1.92, a quick ratio of 0.82 and a current ratio of 0.82.
CenturyLink (NYSE:CTL) last announced its quarterly earnings data on Wednesday, November 8th. The technology company reported $0.42 earnings per share (EPS) for the quarter, missing the 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 firm had revenue of $4.03 billion during the quarter, compared to analysts’ expectations of $4.06 billion. During the same quarter in the previous year, the business earned $0.56 earnings per share. The company’s revenue for the quarter was down 7.9% compared to the same quarter last year. research analysts expect that CenturyLink, Inc. will post 1.59 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Monday, November 27th will be paid a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 14.64%. The ex-dividend date is Friday, November 24th. CenturyLink’s payout ratio is 372.41%.
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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