Centurylink (NYSE:CTL) received a $14.00 price objective from investment analysts at Wells Fargo & Co in a research report issued to clients and investors on Monday, TipRanks reports. The firm presently has a “buy” rating on the technology company’s stock. Wells Fargo & Co‘s price objective points to a potential upside of 24.11% from the stock’s previous close.
Several other equities research analysts have also recently issued reports on the stock. Citigroup upgraded shares of Centurylink from a “sell” rating to a “neutral” rating in a research report on Thursday, May 9th. Guggenheim set a $10.00 price objective on shares of Centurylink and gave the company a “hold” rating in a research report on Wednesday, August 7th. Zacks Investment Research cut shares of Centurylink from a “buy” rating to a “hold” rating in a research report on Tuesday, April 16th. JPMorgan Chase & Co. cut shares of Centurylink from a “neutral” rating to an “underweight” rating and set a $10.00 price objective on the stock. in a research report on Thursday, August 8th. Finally, Raymond James upgraded shares of Centurylink from an “underperform” rating to a “market perform” rating in a research report on Thursday, August 8th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $15.73.
Shares of Centurylink stock traded down $0.20 on Monday, hitting $11.28. 731,441 shares of the company traded hands, compared to its average volume of 14,398,644. The firm has a market cap of $12.27 billion, a PE ratio of 9.50, a P/E/G ratio of 0.93 and a beta of 0.85. The company has a quick ratio of 0.71, a current ratio of 0.60 and a debt-to-equity ratio of 2.42. Centurylink has a 52 week low of $9.64 and a 52 week high of $24.20. The company’s 50-day moving average price is $11.62.
In other Centurylink news, CFO Indraneel Dev purchased 15,000 shares of Centurylink stock in a transaction that occurred on Thursday, May 23rd. The shares were bought at an average price of $9.81 per share, for a total transaction of $147,150.00. Following the completion of the transaction, the chief financial officer now owns 471,053 shares of the company’s stock, valued at approximately $4,621,029.93. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey K. Storey purchased 50,000 shares of Centurylink stock in a transaction that occurred on Thursday, May 23rd. The stock was acquired at an average price of $9.83 per share, for a total transaction of $491,500.00. Following the transaction, the chief executive officer now directly owns 3,240,001 shares of the company’s stock, valued at approximately $31,849,209.83. The disclosure for this purchase can be found here. Insiders purchased 95,000 shares of company stock worth $941,550 in the last 90 days. 0.50% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its position in Centurylink by 12.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 14,763,545 shares of the technology company’s stock valued at $223,688,000 after buying an additional 1,587,647 shares during the period. Geode Capital Management LLC raised its holdings in Centurylink by 9.2% in the 4th quarter. Geode Capital Management LLC now owns 13,305,449 shares of the technology company’s stock worth $201,523,000 after purchasing an additional 1,119,125 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in Centurylink by 13.4% in the 1st quarter. State of Alaska Department of Revenue now owns 203,912 shares of the technology company’s stock worth $2,444,000 after purchasing an additional 24,112 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in Centurylink in the 1st quarter worth $325,000. Finally, First Manhattan Co. raised its holdings in Centurylink by 18.8% in the 1st quarter. First Manhattan Co. now owns 81,359 shares of the technology company’s stock worth $975,000 after purchasing an additional 12,900 shares in the last quarter. Institutional investors own 75.51% of the company’s stock.
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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