Oppenheimer Lowers Centurylink (CTL) Price Target to $22.00

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Centurylink (NYSE:CTL) had its price target decreased by Oppenheimer from $24.00 to $22.00 in a report issued on Friday, The Fly reports. Oppenheimer currently has an outperform rating on the technology company’s stock. Oppenheimer also issued estimates for Centurylink’s Q4 2018 earnings at $0.33 EPS, FY2018 earnings at $1.10 EPS and FY2019 earnings at $1.23 EPS.

A number of other research firms have also recently commented on CTL. Zacks Investment Research cut Centurylink from a hold rating to a strong sell rating in a research report on Tuesday, July 24th. Royal Bank of Canada lifted their target price on Centurylink to $27.00 and gave the stock an outperform rating in a research report on Thursday, August 16th. Hanson cut Centurylink from a neutral rating to a sell rating and set a $19.00 target price on the stock. in a research report on Wednesday, August 22nd. Moffett Nathanson reiterated a sell rating and set a $23.00 target price on shares of Centurylink in a research report on Wednesday, August 22nd. Finally, Bank of America set a $27.00 target price on Centurylink and gave the stock a buy rating in a research report on Wednesday, August 8th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of Hold and an average price target of $21.62.

Centurylink stock traded down $2.17 during midday trading on Friday, reaching $18.91. The company’s stock had a trading volume of 28,674,511 shares, compared to its average volume of 8,844,491. Centurylink has a fifty-two week low of $13.16 and a fifty-two week high of $24.20. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market cap of $23.21 billion, a PE ratio of 12.86, a P/E/G ratio of -13.36 and a beta of 0.76.

Centurylink (NYSE:CTL) last posted its earnings results on Thursday, November 8th. The technology company reported $0.30 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.30. Centurylink had a return on equity of 4.50% and a net margin of 7.62%. The business had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.88 billion. During the same quarter in the previous year, the firm earned $0.42 earnings per share. The business’s revenue was down 3.6% compared to the same quarter last year. On average, research analysts expect that Centurylink will post 1.07 earnings per share for the current fiscal year.

In related news, Director Glen F. Post III sold 150,000 shares of the business’s stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $22.00, for a total value of $3,300,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.60% of the company’s stock.

A number of hedge funds have recently modified their holdings of CTL. Migdal Insurance & Financial Holdings Ltd. increased its position in Centurylink by 16,940.6% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,453 shares of the technology company’s stock valued at $102,000 after acquiring an additional 5,421 shares during the period. Picton Mahoney Asset Management acquired a new position in Centurylink in the 3rd quarter valued at about $106,000. Rehmann Capital Advisory Group increased its position in Centurylink by 210.7% in the 2nd quarter. Rehmann Capital Advisory Group now owns 5,873 shares of the technology company’s stock valued at $109,000 after acquiring an additional 3,983 shares during the period. Baker Ellis Asset Management LLC acquired a new position in Centurylink in the 2nd quarter valued at about $110,000. Finally, AdvisorNet Financial Inc increased its position in Centurylink by 118.4% in the 2nd quarter. AdvisorNet Financial Inc now owns 6,422 shares of the technology company’s stock valued at $120,000 after acquiring an additional 3,482 shares during the period. 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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