Synovus Financial Corp cut its stake in shares of CenturyLink, Inc. (NYSE:CTL) by 6.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 204,433 shares of the technology company’s stock after selling 14,286 shares during the quarter. Synovus Financial Corp’s holdings in CenturyLink were worth $3,877,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the stock. Alpine Associates Management Inc. purchased a new position in CenturyLink in the 3rd quarter worth approximately $19,810,000. Nippon Life Global Investors Americas Inc. purchased a new position in CenturyLink in the 3rd quarter worth approximately $8,674,000. Epoch Investment Partners Inc. lifted its holdings in CenturyLink by 11.0% in the 3rd quarter. Epoch Investment Partners Inc. now owns 5,521,373 shares of the technology company’s stock worth $104,354,000 after purchasing an additional 546,435 shares in the last quarter. Private Advisor Group LLC lifted its holdings in CenturyLink by 18.1% in the 3rd quarter. Private Advisor Group LLC now owns 56,525 shares of the technology company’s stock worth $1,135,000 after purchasing an additional 8,651 shares in the last quarter. Finally, CapWealth Advisors LLC lifted its holdings in CenturyLink by 18.0% in the 3rd quarter. CapWealth Advisors LLC now owns 319,897 shares of the technology company’s stock worth $6,046,000 after purchasing an additional 48,840 shares in the last quarter. Institutional investors own 82.32% of the company’s stock.
Several brokerages have recently issued reports on CTL. BidaskClub cut CenturyLink from a “hold” rating to a “sell” rating in a report on Friday, August 11th. ValuEngine raised CenturyLink from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Jefferies Group reaffirmed a “hold” rating and set a $22.00 price objective on shares of CenturyLink in a report on Tuesday, October 3rd. Royal Bank Of Canada reaffirmed a “hold” rating and set a $25.00 price objective on shares of CenturyLink in a report on Monday, September 18th. Finally, Zacks Investment Research cut CenturyLink from a “hold” rating to a “strong sell” rating in a report on Friday, August 25th. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $23.07.
CenturyLink, Inc. (CTL) opened at $14.39 on Wednesday. The firm has a market capitalization of $15,831.94, a P/E ratio of 7.63, a PEG ratio of -4.63 and a beta of 0.79. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.92. CenturyLink, Inc. has a 12-month low of $13.16 and a 12-month high of $27.61.
CenturyLink (NYSE:CTL) last released its earnings results on Wednesday, November 8th. The technology company reported $0.42 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.03). The company had revenue of $4.03 billion for the quarter, compared to the consensus estimate of $4.06 billion. CenturyLink had a net margin of 1.89% and a return on equity of 7.99%. The business’s revenue for the quarter was down 7.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.56 EPS. analysts forecast that CenturyLink, Inc. will post 1.6 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Monday, November 27th will be given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 15.01%. The ex-dividend date of this dividend is Friday, November 24th. CenturyLink’s dividend payout ratio is currently 372.42%.
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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