Centurylink Inc (NYSE:CTL) CEO Jeffrey K. Storey bought 50,000 shares of the business’s stock in a transaction on Thursday, May 23rd. The stock was bought at an average cost of $9.83 per share, with a total value of $491,500.00. Following the transaction, the chief executive officer now owns 3,240,001 shares in the company, valued at approximately $31,849,209.83. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Shares of CTL stock traded down $0.30 during mid-day trading on Thursday, reaching $9.66. 13,307,187 shares of the company’s stock traded hands, compared to its average volume of 13,146,203. Centurylink Inc has a 12 month low of $9.91 and a 12 month high of $24.20. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.71 and a quick ratio of 0.71. The company has a market cap of $11.15 billion, a price-to-earnings ratio of 8.12, a PEG ratio of 0.91 and a beta of 0.74.
Centurylink (NYSE:CTL) last issued its quarterly earnings data on Wednesday, May 8th. The technology company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.07. Centurylink had a negative net margin of 34.62% and a positive return on equity of 6.89%. The firm had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.71 billion. During the same quarter in the previous year, the firm posted $0.25 EPS. The company’s revenue for the quarter was down 5.0% compared to the same quarter last year. Equities research analysts expect that Centurylink Inc will post 1.29 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Monday, June 3rd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 10.35%. The ex-dividend date of this dividend is Friday, May 31st. Centurylink’s payout ratio is 84.03%.
Several hedge funds have recently modified their holdings of the company. Legacy Advisors LLC purchased a new position in shares of Centurylink during the 1st quarter valued at $25,000. Signet Investment Advisory Group Inc. purchased a new position in shares of Centurylink during the 4th quarter valued at $34,000. Doyle Wealth Management purchased a new position in shares of Centurylink during the 4th quarter valued at $35,000. Pearl River Capital LLC purchased a new position in shares of Centurylink during the 4th quarter valued at $42,000. Finally, Lindbrook Capital LLC lifted its stake in shares of Centurylink by 447.0% during the 1st quarter. Lindbrook Capital LLC now owns 4,409 shares of the technology company’s stock valued at $52,000 after buying an additional 3,603 shares in the last quarter. 85.34% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have commented on CTL. UBS Group downgraded shares of Centurylink from a “buy” rating to a “neutral” rating and cut their target price for the stock from $24.00 to $14.00 in a research report on Thursday, February 14th. ValuEngine downgraded shares of Centurylink from a “sell” rating to a “strong sell” rating in a research report on Thursday, February 14th. Edward Jones downgraded shares of Centurylink to a “sell” rating in a research report on Tuesday, March 5th. JPMorgan Chase & Co. downgraded shares of Centurylink from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $27.00 to $14.00 in a research report on Thursday, February 14th. Finally, Royal Bank of Canada downgraded shares of Centurylink from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $24.00 to $15.00 in a research report on Wednesday, February 20th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $16.58.
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Centurylink Company Profile
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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