Centurylink (NYSE:CTL) Stock Price Up 11.4% Following Analyst Upgrade

Centurylink Inc (NYSE:CTL) rose 11.4% during mid-day trading on Thursday after TheStreet upgraded the stock from a d+ rating to a c rating. The stock traded as high as $15.05 and last traded at $14.88, approximately 44,670,711 shares changed hands during mid-day trading. An increase of 224% from the average daily volume of 13,797,423 shares. The stock had previously closed at $13.36.

CTL has been the topic of several other reports. ValuEngine upgraded shares of Centurylink from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Guggenheim lowered shares of Centurylink from a “neutral” rating to a “sell” rating and set a $10.00 price target on the stock. in a research report on Wednesday. Raymond James upgraded shares of Centurylink from an “underperform” rating to a “market perform” rating in a research report on Thursday, August 8th. Wells Fargo & Co raised their price target on shares of Centurylink from $14.00 to $15.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of Centurylink in a research report on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company’s stock. Centurylink currently has an average rating of “Hold” and an average price target of $14.68.

A number of hedge funds and other institutional investors have recently bought and sold shares of CTL. Cornerstone Advisors Inc. boosted its position in shares of Centurylink by 68.7% during the 3rd quarter. Cornerstone Advisors Inc. now owns 2,058 shares of the technology company’s stock valued at $26,000 after acquiring an additional 838 shares in the last quarter. Coastal Investment Advisors Inc. boosted its position in shares of Centurylink by 563.7% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 2,197 shares of the technology company’s stock valued at $25,000 after acquiring an additional 1,866 shares in the last quarter. Farmers & Merchants Investments Inc. boosted its position in shares of Centurylink by 54.9% during the 3rd quarter. Farmers & Merchants Investments Inc. now owns 2,823 shares of the technology company’s stock valued at $35,000 after acquiring an additional 1,000 shares in the last quarter. AGF Investments LLC acquired a new stake in shares of Centurylink during the 2nd quarter valued at about $38,000. Finally, Venturi Wealth Management LLC acquired a new stake in shares of Centurylink during the 3rd quarter valued at about $45,000. Institutional investors own 73.51% of the company’s stock.

The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.60 and a current ratio of 0.60. The firm’s 50-day moving average price is $12.53 and its two-hundred day moving average price is $11.65. The firm has a market capitalization of $14.91 billion, a price-to-earnings ratio of 12.43, a price-to-earnings-growth ratio of 0.98 and a beta of 0.86.

Centurylink (NYSE:CTL) last issued its earnings results on Wednesday, November 6th. The technology company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.01). Centurylink had a negative net margin of 34.77% and a positive return on equity of 8.30%. The business had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.53 billion. During the same quarter last year, the firm posted $0.30 earnings per share. Centurylink’s revenue was down 3.6% on a year-over-year basis. As a group, equities research analysts anticipate that Centurylink Inc will post 1.35 EPS for the current year.

About Centurylink (NYSE:CTL)

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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