IFM Investors Pty Ltd bought a new stake in shares of CenturyLink, Inc. (NYSE:CTL) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 15,816 shares of the technology company’s stock, valued at approximately $378,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Ffcm LLC lifted its position in CenturyLink by 18.2% during the second quarter. Ffcm LLC now owns 29,221 shares of the technology company’s stock valued at $698,000 after purchasing an additional 4,504 shares in the last quarter. Quinn Opportunity Partners LLC lifted its position in CenturyLink by 86.7% during the second quarter. Quinn Opportunity Partners LLC now owns 56,000 shares of the technology company’s stock valued at $1,337,000 after purchasing an additional 26,000 shares in the last quarter. Calamos Advisors LLC lifted its position in CenturyLink by 2.7% during the second quarter. Calamos Advisors LLC now owns 104,205 shares of the technology company’s stock valued at $2,488,000 after purchasing an additional 2,760 shares in the last quarter. Synovus Financial Corp lifted its position in CenturyLink by 20.3% during the second quarter. Synovus Financial Corp now owns 218,719 shares of the technology company’s stock valued at $5,242,000 after purchasing an additional 36,937 shares in the last quarter. Finally, Banque Pictet & Cie SA purchased a new position in CenturyLink during the second quarter valued at $215,000. Institutional investors own 83.02% of the company’s stock.
Several brokerages have recently commented on CTL. UBS AG set a $29.00 price objective on CenturyLink and gave the company a “buy” rating in a research report on Thursday, June 22nd. ValuEngine upgraded CenturyLink from a “hold” rating to a “buy” rating in a research report on Friday, August 18th. Morgan Stanley lowered their price objective on CenturyLink from $27.00 to $26.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 23rd. Barclays PLC decreased their target price on CenturyLink from $24.00 to $23.00 and set an “underweight” rating on the stock in a research report on Thursday, June 29th. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $25.00 target price on shares of CenturyLink in a research report on Thursday, May 25th. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $26.15.
Shares of CenturyLink, Inc. (NYSE CTL) traded up 0.96% on Friday, reaching $18.88. The company had a trading volume of 4,965,072 shares. The company’s 50 day moving average price is $20.73 and its 200-day moving average price is $23.45. The stock has a market capitalization of $10.38 billion, a P/E ratio of 27.36 and a beta of 0.89. CenturyLink, Inc. has a 1-year low of $18.19 and a 1-year high of $33.45.
CenturyLink (NYSE:CTL) last posted its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.46 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.03). CenturyLink had a return on equity of 8.43% and a net margin of 2.20%. The company had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $4.09 billion. During the same period in the prior year, the business earned $0.63 EPS. The business’s revenue for the quarter was down 7.0% on a year-over-year basis. Equities analysts predict that CenturyLink, Inc. will post $1.94 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, September 5th will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 11.55%. The ex-dividend date is Thursday, August 31st. CenturyLink’s payout ratio is currently 313.04%.
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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