Centurylink (NYSE:CTL) Lifted to Neutral at Guggenheim

Centurylink (NYSE:CTL) was upgraded by investment analysts at Guggenheim from a “sell” rating to a “neutral” rating in a research note issued on Thursday, May 23rd, Marketbeat Ratings reports. The firm presently has a $10.00 target price on the technology company’s stock. Guggenheim’s price objective suggests a potential downside of 9.91% from the company’s previous close. The analysts noted that the move was a valuation call.

A number of other research firms have also recently issued reports on CTL. Zacks Investment Research cut shares of Centurylink from a “buy” rating to a “hold” rating in a research note on Tuesday, April 16th. TheStreet downgraded shares of Centurylink from a “c” rating to a “d+” rating in a research note on Wednesday, February 13th. Citigroup upgraded shares of Centurylink from a “sell” rating to a “neutral” rating in a research note on Thursday, May 9th. ValuEngine downgraded shares of Centurylink from a “hold” rating to a “sell” rating in a research note on Tuesday, February 5th. Finally, Royal Bank of Canada downgraded shares of Centurylink from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $24.00 to $15.00 in a research note on Wednesday, February 20th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company’s stock. Centurylink currently has a consensus rating of “Hold” and a consensus target price of $16.58.

Shares of CTL stock traded down $0.05 during trading on Thursday, hitting $11.10. 9,524,977 shares of the company were exchanged, compared to its average volume of 15,117,375. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a market cap of $12.06 billion, a P/E ratio of 9.33, a P/E/G ratio of 0.93 and a beta of 0.72. Centurylink has a twelve month low of $9.64 and a twelve month high of $24.20.

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

In related news, Director Steven T. Clontz acquired 37,000 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was bought at an average price of $10.93 per share, with a total value of $404,410.00. Following the acquisition, the director now owns 227,334 shares in the company, valued at approximately $2,484,760.62. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider William Bruce Hanks acquired 10,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was bought at an average cost of $10.63 per share, with a total value of $106,300.00. Following the acquisition, the insider now owns 92,172 shares in the company, valued at approximately $979,788.36. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 142,000 shares of company stock valued at $1,455,160. Insiders own 0.50% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Marshall Wace North America L.P. bought a new stake in Centurylink in the first quarter worth approximately $367,000. Diversified Trust Co increased its holdings in shares of Centurylink by 31.8% in the first quarter. Diversified Trust Co now owns 22,858 shares of the technology company’s stock worth $274,000 after purchasing an additional 5,512 shares during the last quarter. Allstate Corp increased its holdings in shares of Centurylink by 71.6% in the first quarter. Allstate Corp now owns 38,123 shares of the technology company’s stock worth $457,000 after purchasing an additional 15,908 shares during the last quarter. Advisory Services Network LLC increased its holdings in shares of Centurylink by 105.6% in the first quarter. Advisory Services Network LLC now owns 140,086 shares of the technology company’s stock worth $1,680,000 after purchasing an additional 71,942 shares during the last quarter. Finally, Nordea Investment Management AB increased its holdings in shares of Centurylink by 3.9% in the first quarter. Nordea Investment Management AB now owns 61,898 shares of the technology company’s stock worth $743,000 after purchasing an additional 2,298 shares during the last quarter. 74.33% of the stock is owned by institutional investors.

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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