Wells Fargo & Co Upgrades Centurylink (NYSE:CTL) to “Outperform”

Centurylink (NYSE:CTL) was upgraded by research analysts at Wells Fargo & Co from a “market perform” rating to an “outperform” rating in a research note issued to investors on Wednesday, The Fly reports.

A number of other equities analysts have also recently commented on the company. Bank of America cut Centurylink from a “buy” rating to a “neutral” rating and set a $14.00 target price on the stock. in a report on Tuesday, February 26th. Edward Jones cut Centurylink to a “sell” rating in a report on Tuesday, March 5th. Citigroup raised Centurylink from a “sell” rating to a “neutral” rating in a report on Thursday, May 9th. Guggenheim raised Centurylink from a “sell” rating to a “neutral” rating and set a $10.00 target price on the stock in a report on Thursday, May 23rd. They noted that the move was a valuation call. Finally, Zacks Investment Research raised Centurylink from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a report on Wednesday, March 13th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $16.58.

Centurylink stock traded up $0.16 during trading on Wednesday, reaching $10.91. The company had a trading volume of 7,838,569 shares, compared to its average volume of 15,090,463. Centurylink has a 52 week low of $9.64 and a 52 week high of $24.20. The business’s 50-day moving average is $10.69. The stock has a market capitalization of $11.85 billion, a price-to-earnings ratio of 9.17, a price-to-earnings-growth ratio of 0.96 and a beta of 0.72. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.71 and a quick ratio of 0.71.

Centurylink (NYSE:CTL) last announced its earnings results on Wednesday, May 8th. The technology company reported $0.34 EPS for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.07. Centurylink had a positive return on equity of 6.89% and a negative net margin of 34.62%. The company had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.71 billion. During the same period last year, the firm earned $0.25 EPS. Centurylink’s revenue for the quarter was down 5.0% compared to the same quarter last year. On average, sell-side analysts forecast that Centurylink will post 1.33 EPS for the current year.

In other Centurylink news, CFO Indraneel Dev purchased 15,000 shares of the business’s stock in a transaction on Thursday, May 23rd. The stock was acquired at an average price of $9.81 per share, for a total transaction of $147,150.00. Following the purchase, the chief financial officer now owns 471,053 shares of the company’s stock, valued at approximately $4,621,029.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Harvey P. Perry purchased 10,000 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was acquired at an average price of $10.92 per share, with a total value of $109,200.00. The disclosure for this purchase can be found here. Insiders acquired a total of 142,000 shares of company stock valued at $1,455,160 in the last quarter. 0.50% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the business. Thrivent Financial for Lutherans grew its position in shares of Centurylink by 1.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 42,911 shares of the technology company’s stock valued at $650,000 after purchasing an additional 757 shares in the last quarter. Crossmark Global Holdings Inc. grew its position in Centurylink by 0.7% in the first quarter. Crossmark Global Holdings Inc. now owns 140,428 shares of the technology company’s stock worth $1,684,000 after acquiring an additional 910 shares in the last quarter. Securian Asset Management Inc grew its position in Centurylink by 1.0% in the first quarter. Securian Asset Management Inc now owns 97,237 shares of the technology company’s stock worth $1,166,000 after acquiring an additional 987 shares in the last quarter. Dynamic Technology Lab Private Ltd grew its position in Centurylink by 2.9% in the first quarter. Dynamic Technology Lab Private Ltd now owns 36,442 shares of the technology company’s stock worth $437,000 after acquiring an additional 1,042 shares in the last quarter. Finally, Kovack Advisors Inc. grew its position in Centurylink by 9.1% in the first quarter. Kovack Advisors Inc. now owns 13,150 shares of the technology company’s stock worth $158,000 after acquiring an additional 1,101 shares in the last quarter. Institutional investors and hedge funds own 74.29% of the company’s stock.

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.

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The Fly

Analyst Recommendations for Centurylink (NYSE:CTL)

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