Centurylink (CTL) Debt Trading 0.6% Lower

An issue of Centurylink Inc (NYSE:CTL) bonds fell 0.6% as a percentage of their face value during trading on Thursday. The high-yield issue of debt has a 7.5% coupon and is set to mature on April 1, 2024. The bonds in the issue are now trading at $102.37 and were trading at $103.00 one week ago. Price changes in a company’s bonds in credit markets often anticipate parallel changes in its stock price.

A number of research analysts have issued reports on CTL shares. Jefferies Financial Group raised shares of Centurylink from a “hold” rating to a “buy” rating in a research note on Tuesday, June 26th. Bank of America reissued a “buy” rating and set a $27.00 target price on shares of Centurylink in a research note on Wednesday, May 16th. Zacks Investment Research raised shares of Centurylink from a “sell” rating to a “hold” rating in a research note on Friday, March 16th. Guggenheim started coverage on shares of Centurylink in a research note on Tuesday, March 13th. They set a “neutral” rating and a $17.00 target price for the company. Finally, Macquarie lowered shares of Centurylink from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $27.61 to $18.00 in a research note on Wednesday, May 16th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $21.00.

Shares of NYSE:CTL traded up $0.28 during trading on Thursday, reaching $19.38. The company had a trading volume of 7,060,500 shares, compared to its average volume of 11,137,196. The firm has a market cap of $20.61 billion, a P/E ratio of 13.08, a P/E/G ratio of -13.69 and a beta of 0.79. Centurylink Inc has a twelve month low of $13.16 and a twelve month high of $24.11. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.58.

Centurylink (NYSE:CTL) last issued its quarterly earnings results on Wednesday, May 9th. The technology company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.06. The company had revenue of $5.95 billion during the quarter, compared to analyst estimates of $5.97 billion. Centurylink had a net margin of 6.92% and a return on equity of 4.94%. The business’s revenue for the quarter was up 41.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.35 EPS. equities research analysts forecast that Centurylink Inc will post 0.93 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, June 15th. Stockholders of record on Monday, June 4th were paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 11.15%. The ex-dividend date was Friday, June 1st. Centurylink’s dividend payout ratio is currently 146.94%.

In related news, Director Steven T. Clontz purchased 41,000 shares of Centurylink stock in a transaction dated Friday, May 11th. The stock was bought at an average cost of $19.44 per share, with a total value of $797,040.00. Following the purchase, the director now owns 162,019 shares in the company, valued at approximately $3,149,649.36. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.60% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Temasek Holdings Private Ltd raised its holdings in shares of Centurylink by 13.9% in the 1st quarter. Temasek Holdings Private Ltd now owns 105,861,423 shares of the technology company’s stock worth $1,739,303,000 after purchasing an additional 12,957,184 shares in the last quarter. Fiduciary Management Inc. WI raised its holdings in shares of Centurylink by 5.7% in the 1st quarter. Fiduciary Management Inc. WI now owns 18,455,072 shares of the technology company’s stock worth $303,217,000 after purchasing an additional 992,063 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Centurylink by 82.4% during the fourth quarter. Geode Capital Management LLC now owns 10,371,954 shares of the technology company’s stock valued at $172,650,000 after acquiring an additional 4,685,323 shares during the period. Epoch Investment Partners Inc. raised its holdings in shares of Centurylink by 17.2% during the first quarter. Epoch Investment Partners Inc. now owns 6,388,838 shares of the technology company’s stock valued at $104,969,000 after acquiring an additional 936,766 shares during the period. Finally, ACR Alpine Capital Research LLC raised its holdings in shares of Centurylink by 44.8% during the first quarter. ACR Alpine Capital Research LLC now owns 6,122,188 shares of the technology company’s stock valued at $100,588,000 after acquiring an additional 1,894,921 shares during the period. Institutional investors and hedge funds own 78.60% of the company’s stock.

About Centurylink

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.

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