Centurylink Inc (CTL) Director Kevin P. Chilton Purchases 2,000 Shares

Centurylink Inc (NYSE:CTL) Director Kevin P. Chilton acquired 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were purchased at an average price of $12.30 per share, with a total value of $24,600.00. Following the acquisition, the director now owns 52,807 shares of the company’s stock, valued at approximately $649,526.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Shares of Centurylink stock traded up $0.17 on Friday, hitting $12.09. The company had a trading volume of 25,033,906 shares, compared to its average volume of 18,362,943. The stock has a market capitalization of $13.05 billion, a PE ratio of 10.16, a price-to-earnings-growth ratio of 1.84 and a beta of 0.78. Centurylink Inc has a twelve month low of $11.52 and a twelve month high of $24.20. The company has a quick ratio of 0.78, a current ratio of 0.69 and a debt-to-equity ratio of 1.79.

Centurylink (NYSE:CTL) last released its quarterly earnings results on Wednesday, February 13th. The technology company reported $0.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.01. The company had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.78 billion. Centurylink had a negative net margin of 7.39% and a positive return on equity of 5.68%. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.18 earnings per share. Equities analysts anticipate that Centurylink Inc will post 1.24 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 22nd. Investors of record on Tuesday, March 12th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 8.27%. The ex-dividend date is Monday, March 11th. Centurylink’s payout ratio is 84.03%.

A number of hedge funds and other institutional investors have recently bought and sold shares of CTL. Norges Bank bought a new stake in Centurylink during the fourth quarter worth $120,981,000. Oregon Public Employees Retirement Fund grew its stake in shares of Centurylink by 2,975.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 6,281,402 shares of the technology company’s stock valued at $415,000 after acquiring an additional 6,077,131 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Centurylink by 12.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 14,763,545 shares of the technology company’s stock valued at $223,688,000 after acquiring an additional 1,587,647 shares in the last quarter. Millennium Management LLC grew its stake in shares of Centurylink by 29.8% in the fourth quarter. Millennium Management LLC now owns 5,762,976 shares of the technology company’s stock valued at $87,309,000 after acquiring an additional 1,323,554 shares in the last quarter. Finally, Fifth Third Bancorp grew its stake in shares of Centurylink by 1,430.9% in the third quarter. Fifth Third Bancorp now owns 1,226,910 shares of the technology company’s stock valued at $26,010,000 after acquiring an additional 1,146,769 shares in the last quarter. 75.27% of the stock is currently owned by hedge funds and other institutional investors.

CTL has been the subject of a number of analyst reports. Zacks Investment Research cut shares of Centurylink from a “buy” rating to a “hold” rating in a report on Monday, December 10th. Edward Jones cut shares of Centurylink to a “sell” rating in a report on Tuesday, March 5th. Guggenheim cut shares of Centurylink from a “neutral” rating to a “sell” rating and set a $11.00 price objective for the company. in a report on Thursday, January 24th. JPMorgan Chase & Co. cut shares of Centurylink from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $27.00 to $14.00 in a report on Thursday, February 14th. Finally, Royal Bank of Canada cut shares of Centurylink from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $24.00 to $15.00 in a report on Wednesday, February 20th. Six analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. Centurylink currently has an average rating of “Hold” and an average price target of $16.75.

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Centurylink Company Profile

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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