Traders Buy Centurylink (CTL) on Weakness
Investors purchased shares of Centurylink Inc (NYSE:CTL) on weakness during trading hours on Thursday. $68.25 million flowed into the stock on the tick-up and $36.71 million flowed out of the stock on the tick-down, for a money net flow of $31.54 million into the stock. Of all stocks tracked, Centurylink had the 24th highest net in-flow for the day. Centurylink traded down ($0.11) for the day and closed at $16.97
Several brokerages recently commented on CTL. Zacks Investment Research raised shares of Centurylink from a “sell” rating to a “hold” rating in a research note on Friday, October 13th. Barclays decreased their target price on shares of Centurylink from $23.00 to $19.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 4th. Jefferies Group reaffirmed a “hold” rating and issued a $22.00 target price on shares of Centurylink in a research note on Tuesday, October 3rd. Deutsche Bank decreased their target price on shares of Centurylink from $23.00 to $20.00 and set a “hold” rating on the stock in a research note on Tuesday, October 10th. Finally, ValuEngine raised shares of Centurylink from a “hold” rating to a “buy” rating in a research note on Tuesday, October 17th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $22.37.
The stock has a market cap of $18,170.00, a price-to-earnings ratio of 29.31, a price-to-earnings-growth ratio of -7.63 and a beta of 0.79. 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 released its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.03). The company 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 revenue was down 7.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.56 EPS. sell-side analysts expect that Centurylink Inc will post 1.56 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, December 11th. Investors of record on Monday, November 27th were issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 12.71%. The ex-dividend date was Friday, November 24th. Centurylink’s dividend payout ratio (DPR) is currently 372.41%.
In related news, Vice Chairman William Bruce Hanks purchased 10,000 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The shares were acquired at an average price of $14.41 per share, for a total transaction of $144,100.00. Following the completion of the acquisition, the insider now directly owns 58,722 shares in the company, valued at approximately $846,184.02. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Glen F. Post III purchased 50,000 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The stock was bought at an average price of $14.17 per share, for a total transaction of $708,500.00. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 150,595 shares of company stock worth $2,154,131. 0.61% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the company. Tredje AP fonden boosted its holdings in shares of Centurylink by 47.1% during the 2nd quarter. Tredje AP fonden now owns 99,244 shares of the technology company’s stock valued at $2,370,000 after buying an additional 31,767 shares in the last quarter. Global X MANAGEMENT CO LLC boosted its holdings in shares of Centurylink by 17.1% during the 3rd quarter. Global X MANAGEMENT CO LLC now owns 441,440 shares of the technology company’s stock valued at $8,343,000 after buying an additional 64,432 shares in the last quarter. Fiduciary Management Inc. WI bought a new stake in shares of Centurylink during the 2nd quarter valued at $86,411,000. Janus Henderson Group PLC boosted its holdings in shares of Centurylink by 39.1% during the 2nd quarter. Janus Henderson Group PLC now owns 104,645 shares of the technology company’s stock valued at $2,499,000 after buying an additional 29,403 shares in the last quarter. Finally, HPM Partners LLC bought a new stake in shares of Centurylink during the 2nd quarter valued at $9,430,000. Hedge funds and other institutional investors own 82.32% of the company’s stock.
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Centurylink Company Profile
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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