Goldman Sachs Group upgraded shares of Centurylink (NYSE:CTL) from a sell rating to a neutral rating in a research report released on Monday, January 8th, MarketBeat Ratings reports. Goldman Sachs Group currently has $19.00 price objective on the technology company’s stock.
Other equities research analysts also recently issued reports about the company. Royal Bank of Canada reaffirmed a hold rating and set a $25.00 price objective on shares of Centurylink in a report on Monday, September 18th. JPMorgan Chase & Co. restated a buy rating and issued a $26.00 price objective on shares of Centurylink in a research report on Thursday, November 9th. Barclays dropped their price objective on shares of Centurylink from $23.00 to $19.00 and set an underweight rating for the company in a research report on Wednesday, October 4th. ValuEngine upgraded shares of Centurylink from a hold rating to a buy rating in a research report on Friday, December 1st. Finally, Deutsche Bank dropped their target price on shares of Centurylink from $23.00 to $20.00 and set a hold rating for the company in a research report on Tuesday, October 10th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Centurylink presently has an average rating of Hold and an average target price of $22.37.
Shares of Centurylink (CTL) opened at $17.36 on Monday. Centurylink has a 1-year low of $13.16 and a 1-year high of $27.61. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.92. The stock has a market capitalization of $18,557.89, a price-to-earnings ratio of 29.93, a P/E/G ratio of -7.75 and a beta of 0.79.
In other Centurylink news, Vice Chairman William Bruce Hanks bought 10,000 shares of the firm’s stock in a transaction on Friday, December 8th. The shares were purchased at an average price of $14.41 per share, for a total transaction of $144,100.00. Following the transaction, the insider now directly owns 58,722 shares in the company, valued at approximately $846,184.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Glen F. Post III bought 50,000 shares of the firm’s stock in a transaction on Friday, December 8th. The shares were acquired at an average price of $14.17 per share, for a total transaction of $708,500.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 150,595 shares of company stock worth $2,154,131. 0.61% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in CTL. Vanguard Group Inc. grew its position in shares of Centurylink by 22.6% during the 2nd quarter. Vanguard Group Inc. now owns 57,351,163 shares of the technology company’s stock worth $1,369,547,000 after purchasing an additional 10,583,246 shares in the last quarter. Capital World Investors acquired a new stake in shares of Centurylink during the 2nd quarter worth approximately $142,086,000. Standard Life Investments LTD acquired a new stake in shares of Centurylink during the 2nd quarter worth approximately $112,613,000. Fiduciary Management Inc. WI acquired a new stake in shares of Centurylink during the 2nd quarter worth approximately $86,411,000. Finally, Samlyn Capital LLC acquired a new stake in shares of Centurylink during the 2nd quarter worth approximately $80,290,000. Hedge funds and other institutional investors own 42.06% of the company’s stock.
Centurylink Company Profile
CenturyLink, Inc is an integrated communications company. The Company is engaged in providing an array of communications services to its residential and business customers. Its segments include business, which provides strategic, legacy and data integration products and services to small, medium and enterprise business, wholesale and governmental customers, including other communication providers, and consumer, which provides strategic and legacy products and services to residential customers.
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