Centurylink (NYSE:CTL) Upgraded to “Market Perform” at Raymond James

Raymond James upgraded shares of Centurylink (NYSE:CTL) from an underperform rating to a market perform rating in a report released on Thursday morning, BenzingaRatingsTable reports.

Several other brokerages have also recently weighed in on CTL. Zacks Investment Research cut Centurylink from a buy rating to a hold rating in a research report on Tuesday, April 16th. Wells Fargo & Co upgraded Centurylink from a market perform rating to an outperform rating and lifted their price target for the company from $12.00 to $14.00 in a research report on Wednesday, June 26th. Citigroup upgraded Centurylink from a sell rating to a neutral rating in a research report on Thursday, May 9th. Finally, Guggenheim upgraded Centurylink from a sell rating to a neutral rating and set a $10.00 price target for the company in a research report on Thursday, May 23rd. They noted that the move was a valuation call. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. Centurylink has an average rating of Hold and a consensus price target of $16.11.

CTL stock traded up $0.08 during trading on Thursday, hitting $10.78. 11,758,170 shares of the company traded hands, compared to its average volume of 14,406,524. The stock’s 50-day moving average is $11.65. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 2.68. The firm has a market capitalization of $11.38 billion, a P/E ratio of 9.06, a PEG ratio of 1.04 and a beta of 0.85. Centurylink has a 1 year low of $9.64 and a 1 year high of $24.20.

Centurylink (NYSE:CTL) last announced its quarterly earnings results on Wednesday, August 7th. The technology company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.03. The company had revenue of $5.58 billion during the quarter, compared to analysts’ expectations of $5.59 billion. Centurylink had a positive return on equity of 6.89% and a negative net margin of 34.62%. Centurylink’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period last year, the business earned $0.27 earnings per share. Research analysts predict that Centurylink will post 1.32 earnings per share for the current year.

In other news, Chairman Harvey P. Perry purchased 10,000 shares of the stock in a transaction dated Wednesday, May 15th. The shares were purchased at an average cost of $10.92 per share, with a total value of $109,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director T Michael Glenn purchased 20,000 shares of the stock in a transaction dated Thursday, May 23rd. The stock was purchased at an average cost of $9.83 per share, for a total transaction of $196,600.00. The disclosure for this purchase can be found here. Insiders bought 105,000 shares of company stock worth $1,050,750 over the last ninety days. Corporate insiders own 0.50% of the company’s stock.

Large investors have recently modified their holdings of the company. Legacy Advisors LLC acquired a new position in Centurylink during the first quarter worth $25,000. Coastal Investment Advisors Inc. boosted its stake in Centurylink by 563.7% during the second quarter. Coastal Investment Advisors Inc. now owns 2,197 shares of the technology company’s stock worth $25,000 after buying an additional 1,866 shares during the last quarter. AGF Investments LLC acquired a new position in Centurylink during the second quarter worth $38,000. NEXT Financial Group Inc boosted its stake in 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 buying an additional 2,725 shares during the last quarter. Finally, Lindbrook Capital LLC boosted its stake in Centurylink by 447.0% during the first quarter. Lindbrook Capital LLC now owns 4,409 shares of the technology company’s stock worth $52,000 after buying an additional 3,603 shares during the last quarter. 74.43% of the stock is currently owned by hedge funds and other institutional investors.

About Centurylink

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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Analyst Recommendations for Centurylink (NYSE:CTL)

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