Cowen Inc. grew its position in CenturyLink, Inc. (NYSE:CTL) by 2.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,289,100 shares of the technology company’s stock after acquiring an additional 62,391 shares during the period. CenturyLink comprises approximately 1.5% of Cowen Inc.’s investment portfolio, making the stock its 9th biggest position. Cowen Inc. owned approximately 0.42% of CenturyLink worth $43,263,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Strs Ohio raised its holdings in CenturyLink by 16.0% in the 2nd quarter. Strs Ohio now owns 36,808 shares of the technology company’s stock valued at $878,000 after acquiring an additional 5,087 shares during the last quarter. NGAM Advisors L.P. raised its holdings in CenturyLink by 40.1% in the 2nd quarter. NGAM Advisors L.P. now owns 71,817 shares of the technology company’s stock valued at $1,715,000 after acquiring an additional 20,560 shares during the last quarter. CIBC Asset Management Inc raised its holdings in CenturyLink by 1.6% in the 2nd quarter. CIBC Asset Management Inc now owns 61,964 shares of the technology company’s stock valued at $1,480,000 after acquiring an additional 947 shares during the last quarter. IFP Advisors Inc raised its holdings in CenturyLink by 27.8% in the 2nd quarter. IFP Advisors Inc now owns 46,370 shares of the technology company’s stock valued at $1,107,000 after acquiring an additional 10,074 shares during the last quarter. Finally, Retirement Systems of Alabama raised its holdings in CenturyLink by 0.7% in the 2nd quarter. Retirement Systems of Alabama now owns 266,094 shares of the technology company’s stock valued at $6,354,000 after acquiring an additional 1,891 shares during the last quarter. Hedge funds and other institutional investors own 82.32% of the company’s stock.
A number of analysts have commented on CTL shares. Jefferies Group cut their price objective on shares of CenturyLink to $17.00 and set a “hold” rating for the company in a report on Thursday, November 9th. Oppenheimer dropped their price target on shares of CenturyLink from $28.00 to $20.00 and set an “outperform” rating for the company in a research note on Friday, November 10th. Deutsche Bank reissued a “hold” rating and issued a $16.00 price target on shares of CenturyLink in a research note on Thursday, November 9th. Zacks Investment Research raised shares of CenturyLink from a “sell” rating to a “hold” rating in a research note on Friday, October 13th. Finally, SunTrust Banks reissued a “hold” rating and issued a $25.00 price target on shares of CenturyLink in a research note on Wednesday, November 1st. 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 assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $23.07.
CenturyLink, Inc. (CTL) opened at $13.84 on Thursday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.92. The firm has a market cap of $15,382.95, a P/E ratio of 7.42, a P/E/G ratio of -4.50 and a beta of 0.79. CenturyLink, Inc. has a 1 year low of $13.16 and a 1 year high of $27.61.
CenturyLink (NYSE:CTL) last issued its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.42 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.03). CenturyLink had a net margin of 1.89% and a return on equity of 7.99%. The business had revenue of $4.03 billion during the quarter, compared to analysts’ expectations of $4.06 billion. During the same period in the prior year, the business earned $0.56 EPS. The business’s quarterly revenue was down 7.9% on a year-over-year basis. analysts expect that CenturyLink, Inc. will post 1.6 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Monday, November 27th will be given a $0.54 dividend. The ex-dividend date is Friday, November 24th. This represents a $2.16 annualized dividend and a yield of 15.61%. CenturyLink’s dividend payout ratio is presently 372.42%.
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CenturyLink Company Profile
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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