SG Americas Securities LLC raised its stake in shares of Centurylink Inc (NYSE:CTL) by 72.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 593,679 shares of the technology company’s stock after purchasing an additional 248,671 shares during the quarter. SG Americas Securities LLC owned about 0.05% of Centurylink worth $7,409,000 at the end of the most recent reporting period.
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A number of other institutional investors also recently modified their holdings of the business. Cornerstone Advisors Inc. increased its stake in shares of Centurylink by 68.7% in the third quarter. Cornerstone Advisors Inc. now owns 2,058 shares of the technology company’s stock worth $26,000 after acquiring an additional 838 shares during the period. Coastal Investment Advisors Inc. increased its stake in shares of Centurylink by 563.7% in the second quarter. Coastal Investment Advisors Inc. now owns 2,197 shares of the technology company’s stock worth $25,000 after acquiring an additional 1,866 shares during the period. Farmers & Merchants Investments Inc. increased its stake in shares of Centurylink by 54.9% in the third quarter. Farmers & Merchants Investments Inc. now owns 2,823 shares of the technology company’s stock worth $35,000 after acquiring an additional 1,000 shares during the period. AGF Investments LLC acquired a new stake in shares of Centurylink in the second quarter worth $38,000. Finally, Venturi Wealth Management LLC acquired a new stake in shares of Centurylink in the third quarter worth $45,000. Institutional investors and hedge funds own 74.76% of the company’s stock.
CTL opened at $14.30 on Tuesday. The firm’s fifty day simple moving average is $13.76 and its two-hundred day simple moving average is $12.04. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 2.54. The company has a market cap of $15.80 billion, a price-to-earnings ratio of 10.65, a PEG ratio of 1.48 and a beta of 0.90. Centurylink Inc has a 52-week low of $9.64 and a 52-week high of $19.05.
Centurylink (NYSE:CTL) last posted its quarterly earnings results on Wednesday, November 6th. The technology company reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.01). The business had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.53 billion. Centurylink had a positive return on equity of 9.56% and a negative net margin of 34.96%. The business’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.30 earnings per share. On average, research analysts forecast that Centurylink Inc will post 1.32 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 6.99%. The ex-dividend date is Friday, November 29th. Centurylink’s dividend payout ratio (DPR) is presently 84.03%.
A number of research firms have recently weighed in on CTL. Wells Fargo & Co set a $14.00 price objective on shares of Centurylink and gave the stock a “buy” rating in a research note on Monday, August 12th. Guggenheim lowered shares of Centurylink from a “neutral” rating to a “sell” rating and set a $10.00 price target on the stock. in a research report on Wednesday, November 6th. ValuEngine upgraded shares of Centurylink from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. TheStreet upgraded shares of Centurylink from a “d+” rating to a “c” rating in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of Centurylink in a research report on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $13.05.
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.