Zacks Investment Research Upgrades Centurylink (CTL) to Hold
Centurylink (NYSE:CTL) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “CenturyLink remains focused on establishing itself as a global leader in cloud infrastructure and hosted IT solutions arena for enterprise customers. The company unveiled a beta version of its OTT TV services. CenturyLink invests in fiber-to-the-tower expansion and has expanded its fiber-based backhaul services. Acquisition of Level 3 Communications will increase CenturyLink's network by 200,000 route miles of fiber. On the flip side, CenturyLink continues to suffer from declining access lines and broadband subscriber losses. High debt levels and decreasing cash flows are likely to affect the company's margins. Technological changes compel large investments, which can dilute cash flow. Over the past three months, the stock price declined 15.2% as against the industry's 0.5% loss. Moreover, CenturyLink unveiled disappointing guidance for certain important metrics for the full-year of 2017.”
Other equities research analysts also recently issued research reports about the company. Royal Bank of Canada reiterated a “hold” rating and issued a $25.00 price objective on shares of Centurylink in a report on Monday, September 18th. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $26.00 price objective on shares of Centurylink in a report on Thursday, November 9th. Barclays lowered their price target on Centurylink from $23.00 to $19.00 and set an “underweight” rating for the company in a report on Wednesday, October 4th. ValuEngine upgraded Centurylink from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Finally, Bank of America lowered their price target on Centurylink from $42.00 to $27.00 and set a “buy” rating for the company in a report on Friday, November 10th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $22.37.
Centurylink (NYSE:CTL) traded down $0.11 during midday trading on Tuesday, reaching $17.36. The company had a trading volume of 11,530,000 shares, compared to its average volume of 16,840,000. The company has a market capitalization of $18,560.00, a P/E ratio of 29.93, a PEG ratio of -7.80 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 has a fifty-two week low of $13.16 and a fifty-two week high of $27.61.
Centurylink (NYSE:CTL) last released its quarterly earnings data on Wednesday, November 8th. The technology company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates 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 company’s revenue for the quarter was down 7.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.56 EPS. equities research analysts predict that Centurylink will post 1.56 EPS for the current year.
In other news, Chairman Harvey P. Perry acquired 7,500 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The stock was acquired at an average cost of $14.32 per share, for a total transaction of $107,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Glen F. Post III acquired 50,000 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The shares were purchased at an average price of $14.17 per share, with a total value of $708,500.00. The disclosure for this purchase can be found here. Insiders acquired 150,595 shares of company stock valued at $2,154,131 over the last 90 days. Corporate insiders own 0.61% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. Eaton Vance Management grew its holdings in shares of Centurylink by 0.5% during the second quarter. Eaton Vance Management now owns 12,640 shares of the technology company’s stock worth $302,000 after buying an additional 57 shares in the last quarter. FTB Advisors Inc. grew its holdings in shares of Centurylink by 0.9% during the second quarter. FTB Advisors Inc. now owns 12,348 shares of the technology company’s stock worth $268,000 after buying an additional 116 shares in the last quarter. Sentry Investment Management LLC grew its holdings in shares of Centurylink by 0.5% during the second quarter. Sentry Investment Management LLC now owns 37,917 shares of the technology company’s stock worth $905,000 after buying an additional 174 shares in the last quarter. Moors & Cabot Inc. grew its holdings in shares of Centurylink by 2.8% during the second quarter. Moors & Cabot Inc. now owns 19,082 shares of the technology company’s stock worth $457,000 after buying an additional 512 shares in the last quarter. Finally, Evercore Wealth Management LLC grew its holdings in shares of Centurylink by 4.1% during the second quarter. Evercore Wealth Management LLC now owns 13,885 shares of the technology company’s stock worth $332,000 after buying an additional 550 shares in the last quarter. Institutional investors and hedge funds 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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