CenturyLink Inc. (NYSE:CTL) was upgraded by research analysts at Oppenheimer Holdings Inc. from a “market perform” rating to an “outperform” rating in a research note issued to investors on Tuesday. The brokerage presently has a $30.00 price objective on the stock. Oppenheimer Holdings Inc.’s price target points to a potential upside of 21.65% from the company’s current price.
A number of other analysts also recently weighed in on CTL. Macquarie initiated coverage on CenturyLink in a research report on Monday, July 11th. They set a “neutral” rating and a $31.00 target price for the company. Vetr upgraded CenturyLink from a “sell” rating to a “hold” rating and set a $29.67 target price for the company in a research report on Tuesday, July 12th. Morgan Stanley downgraded CenturyLink from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $31.00 to $27.00 in a research report on Monday, July 18th. Zacks Investment Research downgraded CenturyLink from a “buy” rating to a “hold” rating in a research report on Friday, August 5th. Finally, Royal Bank Of Canada upped their target price on CenturyLink from $29.00 to $31.00 and gave the company a “sector perform” rating in a research report on Monday, August 8th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company’s stock. CenturyLink has an average rating of “Hold” and a consensus price target of $28.26.
CenturyLink (NYSE:CTL) opened at 24.66 on Tuesday. The company has a market cap of $13.48 billion, a PE ratio of 14.53 and a beta of 0.84. CenturyLink has a 12-month low of $21.94 and a 12-month high of $33.45. The company has a 50-day moving average price of $26.15 and a 200 day moving average price of $27.91.
CenturyLink (NYSE:CTL) last released its earnings results on Wednesday, November 2nd. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. The firm earned $4.38 billion during the quarter. CenturyLink had a return on equity of 10.48% and a net margin of 5.22%. The business’s revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.70 earnings per share. On average, analysts forecast that CenturyLink will post $2.48 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 12th. Shareholders of record on Monday, November 28th will be issued a $0.54 dividend. The ex-dividend date is Wednesday, November 23rd. This represents a $2.16 dividend on an annualized basis and a yield of 8.76%. CenturyLink’s payout ratio is presently 127.06%.
In related news, Director William Arthur Owens purchased 42,800 shares of the firm’s stock in a transaction dated Monday, November 7th. The stock was bought at an average price of $23.35 per share, with a total value of $999,380.00. Following the completion of the purchase, the director now owns 95,275 shares in the company, valued at approximately $2,224,671.25. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Aamir Hussain purchased 14,580 shares of the firm’s stock in a transaction dated Thursday, November 10th. The stock was bought at an average cost of $24.00 per share, with a total value of $349,920.00. Following the purchase, the executive vice president now owns 179,075 shares of the company’s stock, valued at approximately $4,297,800. The disclosure for this purchase can be found here. 0.61% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of the stock. Ameriprise Financial Inc. boosted its stake in shares of CenturyLink by 68.0% in the third quarter. Ameriprise Financial Inc. now owns 9,404,407 shares of the company’s stock valued at $257,941,000 after buying an additional 3,805,189 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of CenturyLink by 25.3% in the second quarter. Dimensional Fund Advisors LP now owns 9,037,670 shares of the company’s stock valued at $262,156,000 after buying an additional 1,823,847 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of CenturyLink by 5.0% in the second quarter. Vanguard Group Inc. now owns 38,015,493 shares of the company’s stock valued at $1,102,830,000 after buying an additional 1,815,294 shares during the last quarter. BlackRock Fund Advisors boosted its stake in shares of CenturyLink by 8.9% in the second quarter. BlackRock Fund Advisors now owns 16,106,122 shares of the company’s stock valued at $467,239,000 after buying an additional 1,311,134 shares during the last quarter. Finally, Glenmede Trust Co. NA boosted its stake in shares of CenturyLink by 837.5% in the second quarter. Glenmede Trust Co. NA now owns 1,153,718 shares of the company’s stock valued at $33,467,000 after buying an additional 1,030,658 shares during the last quarter. 73.62% of the stock is owned by institutional investors.