CenturyLink (CTL) Stock Rating Lowered by Macquarie

CenturyLink (NYSE:CTL) was downgraded by equities research analysts at Macquarie from a “neutral” rating to an “underperform” rating in a research note issued on Wednesday, Marketbeat reports. They currently have a $18.00 price target on the technology company’s stock, down from their prior price target of $27.61. Macquarie’s price objective points to a potential downside of 6.49% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. Bank of America set a $27.00 target price on shares of CenturyLink and gave the stock a “buy” rating in a report on Wednesday, February 21st. ValuEngine cut shares of CenturyLink from a “strong-buy” rating to a “buy” rating in a report on Friday, February 2nd. Barclays restated a “hold” rating and issued a $17.00 target price on shares of CenturyLink in a report on Friday, February 16th. Cowen set a $19.00 target price on shares of CenturyLink and gave the stock a “hold” rating in a report on Thursday, February 15th. Finally, Zacks Investment Research upgraded shares of CenturyLink from a “sell” rating to a “hold” rating in a report on Friday, March 16th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $21.00.

Shares of CTL stock opened at $19.25 on Wednesday. CenturyLink has a 12-month low of $19.13 and a 12-month high of $19.55. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market capitalization of $20.90 billion, a P/E ratio of 13.10, a P/E/G ratio of -14.42 and a beta of 0.76.

CenturyLink (NYSE:CTL) last issued its earnings results on Wednesday, May 9th. The technology company reported $0.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.06. CenturyLink had a net margin of 6.92% and a return on equity of 4.94%. The company had revenue of $5.95 billion for the quarter, compared to analysts’ expectations of $5.97 billion. During the same quarter last year, the company posted $0.35 earnings per share. The firm’s quarterly revenue was up 41.2% on a year-over-year basis. equities analysts predict that CenturyLink will post 0.9 EPS for the current year.

In other CenturyLink news, Director Steven T. Clontz purchased 41,000 shares of the company’s stock in a transaction dated Friday, May 11th. The shares were acquired at an average price of $19.44 per share, for a total transaction of $797,040.00. Following the purchase, the director now directly owns 162,019 shares of the company’s stock, valued at approximately $3,149,649.36. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Holdings (Private) Ltd Temasek purchased 7,620,118 shares of the company’s stock in a transaction dated Wednesday, April 4th. The shares were acquired at an average price of $16.72 per share, for a total transaction of $127,408,372.96. The disclosure for this purchase can be found here. Company insiders own 0.60% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ballew Advisors Inc purchased a new position in shares of CenturyLink during the 1st quarter valued at $101,000. Bessemer Group Inc. lifted its stake in shares of CenturyLink by 132.3% during the 4th quarter. Bessemer Group Inc. now owns 6,264 shares of the technology company’s stock valued at $104,000 after buying an additional 3,568 shares in the last quarter. Citizens Financial Group Inc RI purchased a new position in shares of CenturyLink during the 4th quarter valued at $111,000. Bronfman E.L. Rothschild L.P. lifted its stake in shares of CenturyLink by 250.8% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 6,753 shares of the technology company’s stock valued at $113,000 after buying an additional 4,828 shares in the last quarter. Finally, Archford Capital Strategies LLC purchased a new position in shares of CenturyLink during the 1st quarter valued at $130,000. Institutional investors own 86.20% of the company’s stock.

CenturyLink Company Profile

CenturyLink, Inc provides various communications services to residential, business, wholesale, and governmental customers primarily in the United States. It operates in two segments, Business and Consumer. The company offers virtual private network data network services; Ethernet services; Internet protocol services; CenturyLink Prism TV that allows customers to watch television or cable channels and record up to four shows on one home digital video recorder; and Vyvx, which provides audio and video feeds over fiber or satellite for broadcast and production customers, as well as satellite digital television services.

Analyst Recommendations for CenturyLink (NYSE:CTL)

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