United Capital Financial Advisers LLC increased its holdings in shares of Centurylink Inc (NYSE:CTL) by 8.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 94,590 shares of the technology company’s stock after purchasing an additional 7,335 shares during the period. United Capital Financial Advisers LLC’s holdings in Centurylink were worth $1,112,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Coastal Investment Advisors Inc. boosted its stake in Centurylink by 563.7% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 2,197 shares of the technology company’s stock worth $25,000 after purchasing an additional 1,866 shares during the period. AGF Investments LLC acquired a new stake in Centurylink during the 2nd quarter worth $38,000. NEXT Financial Group Inc boosted its stake in Centurylink by 279.8% during the 2nd quarter. NEXT Financial Group Inc now owns 3,699 shares of the technology company’s stock worth $44,000 after purchasing an additional 2,725 shares during the period. Ossiam acquired a new stake in Centurylink during the 2nd quarter worth $63,000. Finally, Parallel Advisors LLC boosted its stake in Centurylink by 35.7% during the 2nd quarter. Parallel Advisors LLC now owns 7,311 shares of the technology company’s stock worth $86,000 after purchasing an additional 1,924 shares during the period. Hedge funds and other institutional investors own 73.30% of the company’s stock.
Centurylink stock traded down $0.29 during trading hours on Friday, reaching $12.52. 15,808,154 shares of the stock were exchanged, compared to its average volume of 11,363,402. The stock has a market cap of $13.96 billion, a P/E ratio of 10.52, a P/E/G ratio of 0.91 and a beta of 0.83. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.60 and a current ratio of 0.60. Centurylink Inc has a 52-week low of $9.64 and a 52-week high of $23.13. The firm’s 50 day moving average is $11.71 and its 200 day moving average is $11.57.
Centurylink (NYSE:CTL) last announced its quarterly earnings data on Wednesday, August 7th. The technology company reported $0.34 EPS for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.03. The company had revenue of $5.58 billion during the quarter, compared to the consensus estimate of $5.59 billion. Centurylink had a negative net margin of 34.77% and a positive return on equity of 8.30%. Centurylink’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.27 EPS. Equities research analysts expect that Centurylink Inc will post 1.32 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Monday, September 2nd were issued a $0.25 dividend. The ex-dividend date was Thursday, August 29th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.99%. Centurylink’s dividend payout ratio is presently 84.03%.
CTL has been the subject of a number of analyst reports. JPMorgan Chase & Co. restated a “buy” rating on shares of Centurylink in a research report on Friday, September 13th. Guggenheim set a $10.00 price objective on shares of Centurylink and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Wells Fargo & Co set a $14.00 price objective on shares of Centurylink and gave the stock a “buy” rating in a research report on Monday, August 12th. Finally, Raymond James upgraded shares of Centurylink from an “underperform” rating to a “market perform” rating in a research report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $14.59.
Centurylink Company Profile
CenturyLink, Inc provides various communications services to residential, business, wholesale, and governmental customers in the United States and internationally. The company operates in two segments, Business and Consumer. It offers VPN data network services; Ethernet services; Internet protocol (IP) services; facilities-based Prism TV service, as well as satellite digital television services; CDN services; and Vyvx broadcast services.
Further Reading: Are sell-side analysts objective?
Want to see what other hedge funds are holding CTL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Centurylink Inc (NYSE:CTL).
Receive News & Ratings for Centurylink Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Centurylink and related companies with MarketBeat.com's FREE daily email newsletter.