Centurylink (NYSE:CTL) posted its quarterly earnings results on Thursday. The technology company reported $0.30 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.30, Briefing.com reports. Centurylink had a return on equity of 4.50% and a net margin of 7.62%. The business had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.88 billion. During the same period in the prior year, the company posted $0.42 EPS. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year.
NYSE CTL opened at $18.91 on Friday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.60. The company has a market cap of $23.21 billion, a PE ratio of 12.86, a PEG ratio of -13.36 and a beta of 0.76. Centurylink has a one year low of $13.16 and a one year high of $24.20.
Several research analysts have weighed in on CTL shares. Bank of America set a $27.00 price target on Centurylink and gave the stock a “buy” rating in a research note on Wednesday, August 8th. ValuEngine upgraded Centurylink from a “hold” rating to a “buy” rating in a research note on Wednesday, August 15th. Zacks Investment Research upgraded Centurylink from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research report on Monday, October 1st. Cowen set a $20.00 target price on Centurylink and gave the company a “hold” rating in a research report on Tuesday, September 25th. Finally, Barclays reiterated a “hold” rating and set a $21.00 target price on shares of Centurylink in a research report on Friday, August 10th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $21.62.
In other news, Director Glen F. Post III sold 150,000 shares of the stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $24.00, for a total transaction of $3,600,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.60% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Madison Investment Holdings Inc. bought a new position in shares of Centurylink during the 2nd quarter valued at approximately $24,058,000. Beck Mack & Oliver LLC lifted its position in Centurylink by 3.9% in the third quarter. Beck Mack & Oliver LLC now owns 6,469,678 shares of the technology company’s stock worth $137,157,000 after buying an additional 241,858 shares during the last quarter. Lourd Capital LLC bought a new stake in Centurylink in the second quarter worth $209,000. Toronto Dominion Bank lifted its position in Centurylink by 27.8% in the second quarter. Toronto Dominion Bank now owns 706,741 shares of the technology company’s stock worth $13,171,000 after buying an additional 153,865 shares during the last quarter. Finally, Kwmg LLC lifted its position in Centurylink by 8.8% in the second quarter. Kwmg LLC now owns 94,304 shares of the technology company’s stock worth $1,758,000 after buying an additional 7,666 shares during the last quarter. Hedge funds and other institutional investors own 76.84% 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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