Investors Buy Shares of Centurylink (CTL) on Weakness

Traders bought shares of Centurylink Inc (NYSE:CTL) on weakness during trading on Thursday. $266.06 million flowed into the stock on the tick-up and $202.98 million flowed out of the stock on the tick-down, for a money net flow of $63.08 million into the stock. Of all companies tracked, Centurylink had the 7th highest net in-flow for the day. Centurylink traded down ($1.92) for the day and closed at $12.78

Several brokerages have commented on CTL. Zacks Investment Research raised Centurylink from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a research report on Friday, November 16th. UBS Group downgraded Centurylink from a “buy” rating to a “neutral” rating and cut their price objective for the company from $24.00 to $14.00 in a research report on Thursday. JPMorgan Chase & Co. downgraded Centurylink from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $27.00 to $14.00 in a research report on Thursday. ValuEngine downgraded Centurylink from a “hold” rating to a “sell” rating in a research report on Tuesday, February 5th. Finally, Cowen reaffirmed a “hold” rating and issued a $21.00 price objective on shares of Centurylink in a research report on Friday, November 9th. Seven research analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. Centurylink has a consensus rating of “Hold” and an average price target of $19.25.

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The company has a debt-to-equity ratio of 1.57, a current ratio of 0.78 and a quick ratio of 0.78. The stock has a market capitalization of $15.25 billion, a PE ratio of 8.69, a price-to-earnings-growth ratio of -7.81 and a beta of 0.87.

Centurylink (NYSE:CTL) last posted its quarterly earnings results on Wednesday, February 13th. The technology company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. Centurylink had a return on equity of 4.45% and a net margin of 7.81%. The business had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.78 billion. During the same quarter in the prior year, the company earned $0.18 EPS. The business’s revenue was up 8.5% compared to the same quarter last year. Equities analysts anticipate that Centurylink Inc will post 1.15 earnings per share for the current year.

In other news, major shareholder Holdings (Private) Ltd Temasek sold 16,000,000 shares of the stock in a transaction on Wednesday, January 16th. The stock was sold at an average price of $15.90, for a total transaction of $254,400,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Steven T. Clontz purchased 8,207 shares of the company’s stock in a transaction dated Tuesday, December 11th. The shares were purchased at an average cost of $17.20 per share, for a total transaction of $141,160.40. Following the transaction, the director now directly owns 178,970 shares in the company, valued at approximately $3,078,284. The disclosure for this purchase can be found here. 0.60% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Thomasville National Bank lifted its stake in shares of Centurylink by 5.6% during the 4th quarter. Thomasville National Bank now owns 46,265 shares of the technology company’s stock worth $701,000 after purchasing an additional 2,440 shares during the last quarter. Commerzbank Aktiengesellschaft FI lifted its stake in shares of Centurylink by 18.0% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 1,128,258 shares of the technology company’s stock worth $17,093,000 after purchasing an additional 171,941 shares during the last quarter. Burns J W & Co. Inc. NY lifted its stake in shares of Centurylink by 19.8% during the 4th quarter. Burns J W & Co. Inc. NY now owns 30,297 shares of the technology company’s stock worth $459,000 after purchasing an additional 5,000 shares during the last quarter. Kiwi Wealth Investments Limited Partnership lifted its stake in shares of Centurylink by 32.8% during the 3rd quarter. Kiwi Wealth Investments Limited Partnership now owns 138,637 shares of the technology company’s stock worth $2,939,000 after purchasing an additional 34,216 shares during the last quarter. Finally, Savant Capital LLC lifted its stake in shares of Centurylink by 21.5% during the 4th quarter. Savant Capital LLC now owns 18,201 shares of the technology company’s stock worth $276,000 after purchasing an additional 3,220 shares during the last quarter. Hedge funds and other institutional investors own 75.53% of the company’s stock.

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About Centurylink (NYSE:CTL)

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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