Centurylink Inc (NYSE:CTL) Receives Average Recommendation of “Hold” from Brokerages

Shares of Centurylink Inc (NYSE:CTL) have been given an average recommendation of “Hold” by the seventeen brokerages that are currently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $16.75.

CTL has been the subject of a number of research reports. Zacks Investment Research cut Centurylink from a “buy” rating to a “hold” rating in a research note on Tuesday, April 16th. Citigroup raised Centurylink from a “sell” rating to a “neutral” rating in a research note on Thursday, May 9th. Guggenheim raised Centurylink from a “sell” rating to a “neutral” rating and set a $10.00 price objective for the company in a research note on Thursday, May 23rd. They noted that the move was a valuation call. Finally, Wells Fargo & Co raised Centurylink from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $12.00 to $14.00 in a research note on Wednesday, June 26th.

In other Centurylink news, insider William Bruce Hanks acquired 10,000 shares of the stock in a transaction dated Thursday, May 30th. The stock was acquired at an average cost of $10.63 per share, with a total value of $106,300.00. Following the transaction, the insider now owns 92,172 shares in the company, valued at approximately $979,788.36. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Indraneel Dev acquired 15,000 shares of the stock in a transaction dated Thursday, May 23rd. The shares were acquired at an average cost of $9.81 per share, with a total value of $147,150.00. Following the completion of the transaction, the chief financial officer now owns 471,053 shares in the company, valued at approximately $4,621,029.93. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 142,000 shares of company stock valued at $1,455,160. Insiders own 0.50% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans lifted its holdings in shares of Centurylink by 1.8% in the 4th 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 during the last quarter. Crossmark Global Holdings Inc. lifted its holdings in shares of Centurylink by 0.7% in the 1st quarter. Crossmark Global Holdings Inc. now owns 140,428 shares of the technology company’s stock valued at $1,684,000 after purchasing an additional 910 shares during the last quarter. Zeke Capital Advisors LLC lifted its holdings in shares of Centurylink by 7.0% in the 2nd quarter. Zeke Capital Advisors LLC now owns 15,037 shares of the technology company’s stock valued at $177,000 after purchasing an additional 981 shares during the last quarter. Securian Asset Management Inc lifted its holdings in shares of Centurylink by 1.0% in the 1st quarter. Securian Asset Management Inc now owns 97,237 shares of the technology company’s stock valued at $1,166,000 after purchasing an additional 987 shares during the last quarter. Finally, Focused Wealth Management Inc lifted its holdings in shares of Centurylink by 12.7% in the 2nd quarter. Focused Wealth Management Inc now owns 8,845 shares of the technology company’s stock valued at $104,000 after purchasing an additional 1,000 shares during the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

NYSE:CTL traded down $0.04 on Friday, reaching $12.02. The company’s stock had a trading volume of 9,076,447 shares, compared to its average volume of 9,311,139. Centurylink has a 12-month low of $9.64 and a 12-month high of $24.20. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 2.68. The firm has a market capitalization of $13.18 billion, a price-to-earnings ratio of 10.10, a price-to-earnings-growth ratio of 1.05 and a beta of 0.84. The company has a 50 day moving average of $11.61.

Centurylink (NYSE:CTL) last issued its quarterly earnings data on Wednesday, May 8th. The technology company reported $0.34 earnings per share for the quarter, beating 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 business had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.71 billion. During the same period in the previous year, the firm posted $0.25 earnings per share. The company’s revenue was down 5.0% on a year-over-year basis. Research analysts anticipate that Centurylink will post 1.32 earnings per share for the current fiscal year.

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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Analyst Recommendations for Centurylink (NYSE:CTL)

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