Analysts expect Centurylink Inc (NYSE:CTL) to post $5.75 billion in sales for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Centurylink’s earnings. The highest sales estimate is $5.79 billion and the lowest is $5.71 billion. Centurylink posted sales of $5.95 billion during the same quarter last year, which suggests a negative year over year growth rate of 3.4%. The company is scheduled to report its next earnings results on Wednesday, May 8th.
On average, analysts expect that Centurylink will report full year sales of $22.77 billion for the current financial year, with estimates ranging from $22.52 billion to $22.94 billion. For the next fiscal year, analysts anticipate that the business will post sales of $22.24 billion, with estimates ranging from $21.79 billion to $22.65 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Centurylink.
Get Centurylink alerts:Centurylink (NYSE:CTL) last announced its quarterly earnings results on Wednesday, February 13th. The technology company reported $0.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.01. The business had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.78 billion. Centurylink had a positive return on equity of 5.68% and a negative net margin of 7.39%. The company’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.18 EPS.
Several equities research analysts have recently commented on CTL shares. Zacks Investment Research lowered Centurylink from a “buy” rating to a “hold” rating in a research note on Monday, December 10th. Edward Jones lowered Centurylink to a “sell” rating in a research note on Tuesday, March 5th. JPMorgan Chase & Co. lowered Centurylink from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $27.00 to $14.00 in a research note on Thursday, February 14th. Guggenheim lowered Centurylink from a “neutral” rating to a “sell” rating and set a $11.00 price target on the stock. in a research note on Thursday, January 24th. Finally, Royal Bank of Canada lowered Centurylink from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $24.00 to $15.00 in a research note on Wednesday, February 20th. Six investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $16.75.
In other Centurylink news, Director Steven T. Clontz purchased 8,000 shares of Centurylink stock in a transaction on Wednesday, March 6th. The shares were bought at an average price of $11.95 per share, with a total value of $95,600.00. Following the purchase, the director now directly owns 202,334 shares in the company, valued at approximately $2,417,891.30. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Indraneel Dev purchased 50,000 shares of Centurylink stock in a transaction on Wednesday, March 6th. The shares were acquired at an average cost of $11.75 per share, for a total transaction of $587,500.00. Following the purchase, the chief financial officer now owns 459,153 shares in the company, valued at $5,395,047.75. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 143,000 shares of company stock worth $1,698,720. 0.60% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the business. Signet Investment Advisory Group Inc. purchased a new position in shares of Centurylink during the 4th quarter worth $34,000. Doyle Wealth Management purchased a new position in shares of Centurylink during the 4th quarter worth $35,000. Pearl River Capital LLC purchased a new position in shares of Centurylink during the 4th quarter worth $42,000. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Centurylink by 34.6% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 3,513 shares of the technology company’s stock worth $53,000 after purchasing an additional 904 shares during the period. Finally, Intercontinental Wealth Advisors LLC purchased a new position in shares of Centurylink during the 4th quarter worth $61,000. 75.19% of the stock is currently owned by institutional investors.
Shares of NYSE:CTL opened at $11.91 on Wednesday. The company has a market cap of $13.05 billion, a PE ratio of 10.01, a PEG ratio of 0.77 and a beta of 0.78. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.69 and a current ratio of 0.69. Centurylink has a 12 month low of $11.52 and a 12 month high of $24.20.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 22nd. Investors of record on Tuesday, March 12th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 8.40%. The ex-dividend date is Monday, March 11th. Centurylink’s payout ratio is currently 84.03%.
About Centurylink
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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