Centurylink (CTL) Earns Buy Rating from Oppenheimer
Centurylink (NYSE:CTL)‘s stock had its “buy” rating reiterated by equities research analysts at Oppenheimer in a research note issued to investors on Tuesday. They presently have a $20.00 price target on the technology company’s stock. Oppenheimer’s target price would suggest a potential upside of 15.21% from the stock’s previous close. Oppenheimer also issued estimates for Centurylink’s FY2018 earnings at $1.39 EPS.
A number of other brokerages have also recently weighed in on CTL. Zacks Investment Research raised Centurylink from a “sell” rating to a “hold” rating in a research note on Friday, October 13th. ValuEngine raised Centurylink from a “hold” rating to a “buy” rating in a research note on Tuesday, October 17th. SunTrust Banks reaffirmed a “hold” rating and issued a $25.00 price objective on shares of Centurylink in a research note on Wednesday, November 1st. Barclays dropped their price objective on Centurylink from $23.00 to $19.00 and set an “underweight” rating for the company in a research note on Wednesday, October 4th. Finally, Jefferies Group dropped their price objective on Centurylink to $17.00 and set a “hold” rating for the company in a research note on Thursday, November 9th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Centurylink presently has an average rating of “Hold” and an average target price of $22.37.
Shares of Centurylink (CTL) traded down $0.11 during midday trading on Tuesday, hitting $17.36. The stock had a trading volume of 11,500,200 shares, compared to its average volume of 16,840,000. Centurylink has a twelve month low of $13.16 and a twelve month high of $27.61. The company has a debt-to-equity ratio of 1.92, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market capitalization of $18,560.00, a PE ratio of 29.93, a PEG ratio of -7.59 and a beta of 0.79.
In related news, Director Virginia Boulet bought 5,095 shares of the stock in a transaction that occurred on Monday, December 11th. The stock was purchased at an average cost of $15.48 per share, with a total value of $78,870.60. Following the purchase, the director now directly owns 42,820 shares of the company’s stock, valued at approximately $662,853.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Glen F. Post III bought 50,000 shares of the stock in a transaction that occurred on Friday, December 8th. The shares were bought at an average cost of $14.17 per share, with a total value of $708,500.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 150,595 shares of company stock valued at $2,154,131 over the last three months. 0.61% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in 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 buying an additional 10,583,246 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Centurylink by 6.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 10,289,893 shares of the technology company’s stock worth $194,498,000 after buying an additional 600,462 shares during the last quarter. Northern Trust Corp lifted its holdings in Centurylink by 1.4% during the 2nd quarter. Northern Trust Corp now owns 6,978,167 shares of the technology company’s stock worth $166,639,000 after buying an additional 95,821 shares during the last quarter. Capital World Investors purchased a new stake in Centurylink during the 2nd quarter worth about $142,086,000. Finally, Epoch Investment Partners Inc. lifted its holdings in Centurylink by 11.0% during the 3rd quarter. Epoch Investment Partners Inc. now owns 5,521,373 shares of the technology company’s stock worth $104,354,000 after buying an additional 546,435 shares during the last quarter. 82.32% of the stock is owned by institutional investors.
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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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