Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Centurylink Inc (NYSE:CTL) by 20.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 60,888 shares of the technology company’s stock after purchasing an additional 10,150 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Centurylink were worth $759,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Coastal Investment Advisors Inc. grew its position in Centurylink by 563.7% during the second quarter. Coastal Investment Advisors Inc. now owns 2,197 shares of the technology company’s stock valued at $25,000 after acquiring an additional 1,866 shares during the period. AGF Investments LLC acquired a new position in shares of Centurylink during the second quarter worth about $38,000. NEXT Financial Group Inc lifted its stake in shares of Centurylink by 279.8% during the second quarter. NEXT Financial Group Inc now owns 3,699 shares of the technology company’s stock worth $44,000 after purchasing an additional 2,725 shares in the last quarter. CSat Investment Advisory L.P. lifted its stake in shares of Centurylink by 96.5% during the second quarter. CSat Investment Advisory L.P. now owns 3,934 shares of the technology company’s stock worth $46,000 after purchasing an additional 1,932 shares in the last quarter. Finally, Intercontinental Wealth Advisors LLC lifted its stake in shares of Centurylink by 50.0% during the third quarter. Intercontinental Wealth Advisors LLC now owns 4,500 shares of the technology company’s stock worth $56,000 after purchasing an additional 1,500 shares in the last quarter. 73.27% of the stock is owned by institutional investors and hedge funds.
Shares of Centurylink stock opened at $12.44 on Monday. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 2.53. The firm has a market cap of $13.13 billion, a P/E ratio of 10.45, a P/E/G ratio of 0.86 and a beta of 0.85. Centurylink Inc has a fifty-two week low of $9.64 and a fifty-two week high of $22.08. The business has a 50-day moving average price of $12.10 and a 200 day moving average price of $11.56.
Centurylink (NYSE:CTL) last announced its quarterly earnings data on Wednesday, August 7th. The technology company reported $0.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.03. The firm had revenue of $5.58 billion during the quarter, compared to analyst estimates of $5.59 billion. Centurylink had a positive return on equity of 8.30% and a negative net margin of 34.77%. Centurylink’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.27 earnings per share. As a group, equities research analysts anticipate that Centurylink Inc will post 1.35 earnings per share for the current year.
A number of brokerages have commented on CTL. Raymond James upgraded Centurylink from an “underperform” rating to a “market perform” rating in a research note on Thursday, August 8th. Guggenheim set a $10.00 price objective on Centurylink and gave the stock a “hold” rating in a research note on Friday, September 27th. Wells Fargo & Co set a $14.00 price target on Centurylink and gave the stock a “buy” rating in a research note on Monday, August 12th. ValuEngine upgraded Centurylink from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. reiterated a “buy” rating on shares of Centurylink in a research note on Friday, September 13th. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $14.59.
Centurylink Company Profile
CenturyLink, Inc provides various communications services to residential, business, wholesale, and governmental customers in the United States and internationally. The company operates in two segments, Business and Consumer. It offers VPN data network services; Ethernet services; Internet protocol (IP) services; facilities-based Prism TV service, as well as satellite digital television services; CDN services; and Vyvx broadcast services.
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