US Bancorp DE grew its holdings in shares of Centurylink Inc (NYSE:CTL) by 16.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 98,624 shares of the technology company’s stock after buying an additional 13,583 shares during the quarter. US Bancorp DE’s holdings in Centurylink were worth $1,838,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Ballew Advisors Inc purchased a new position in shares of Centurylink in the first quarter valued at $101,000. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of Centurylink by 16,940.6% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,453 shares of the technology company’s stock valued at $102,000 after purchasing an additional 5,421 shares during the period. AdvisorNet Financial Inc boosted its stake in shares of Centurylink by 118.4% in the second quarter. AdvisorNet Financial Inc now owns 6,422 shares of the technology company’s stock valued at $120,000 after purchasing an additional 3,482 shares during the period. Archford Capital Strategies LLC purchased a new position in shares of Centurylink in the first quarter valued at $130,000. Finally, Private Capital Group LLC boosted its stake in shares of Centurylink by 295.1% in the first quarter. Private Capital Group LLC now owns 8,783 shares of the technology company’s stock valued at $144,000 after purchasing an additional 6,560 shares during the period. Institutional investors own 76.95% of the company’s stock.
CTL has been the subject of several analyst reports. Zacks Investment Research downgraded shares of Centurylink from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 24th. Royal Bank of Canada upped their target price on shares of Centurylink to $27.00 and gave the company an “outperform” rating in a research note on Thursday, August 16th. Hanson downgraded shares of Centurylink from a “neutral” rating to a “sell” rating and set a $19.00 target price for the company. in a research note on Wednesday, August 22nd. Moffett Nathanson restated a “sell” rating and issued a $23.00 target price on shares of Centurylink in a research note on Wednesday, August 22nd. Finally, Bank of America set a $27.00 target price on shares of Centurylink and gave the company a “buy” rating in a research note on Wednesday, August 8th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. Centurylink presently has a consensus rating of “Hold” and an average price target of $21.18.
CTL opened at $21.65 on Thursday. The firm has a market capitalization of $23.07 billion, a P/E ratio of 14.73, a P/E/G ratio of -13.41 and a beta of 0.83. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.98 and a current ratio of 0.98. Centurylink Inc has a 12-month low of $13.16 and a 12-month high of $24.20.
Centurylink (NYSE:CTL) last posted its quarterly earnings results on Wednesday, August 8th. The technology company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.03. The firm had revenue of $5.90 billion for the quarter, compared to analysts’ expectations of $5.92 billion. Centurylink had a net margin of 7.62% and a return on equity of 4.50%. The firm’s quarterly revenue was up 44.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.46 earnings per share. equities research analysts anticipate that Centurylink Inc will post 1.06 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 14th. Investors of record on Friday, August 31st will be issued a $0.54 dividend. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $2.16 annualized dividend and a yield of 9.98%. Centurylink’s dividend payout ratio is presently 146.94%.
In related news, Director Glen F. Post III sold 150,000 shares of the company’s stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $24.00, for a total value of $3,600,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.60% of the company’s stock.
Centurylink Company Profile
CenturyLink, Inc provides various communications services to residential, business, wholesale, and governmental customers primarily in the United States. It operates in two segments, Business and Consumer. The company offers virtual private network data network services; Ethernet services; Internet protocol services; CenturyLink Prism TV that allows customers to watch television or cable channels and record up to four shows on one home digital video recorder; and Vyvx, which provides audio and video feeds over fiber or satellite for broadcast and production customers, as well as satellite digital television services.
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