Wells Fargo & Co Boosts Centurylink (NYSE:CTL) Price Target to $15.00

Centurylink (NYSE:CTL) had its price target lifted by investment analysts at Wells Fargo & Co from $14.00 to $15.00 in a research report issued on Thursday, Stock Target Advisor reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Wells Fargo & Co‘s price target points to a potential upside of 1.42% from the company’s current price.

Several other research analysts have also recently issued reports on the company. JPMorgan Chase & Co. reissued a “buy” rating on shares of Centurylink in a research note on Friday, September 13th. Guggenheim cut Centurylink from a “neutral” rating to a “sell” rating and set a $10.00 price target for the company. in a research note on Wednesday. ValuEngine raised Centurylink from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Raymond James raised Centurylink from an “underperform” rating to a “market perform” rating in a research note on Thursday, August 8th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. Centurylink currently has an average rating of “Hold” and an average price target of $13.16.

Shares of NYSE:CTL traded down $0.09 on Thursday, hitting $14.79. The company’s stock had a trading volume of 16,441,503 shares, compared to its average volume of 10,665,462. Centurylink has a 12 month low of $9.64 and a 12 month high of $21.50. The company has a market capitalization of $14.91 billion, a price-to-earnings ratio of 12.43, a price-to-earnings-growth ratio of 0.98 and a beta of 0.86. The stock’s 50-day moving average is $12.53 and its two-hundred day moving average is $11.65. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.60 and a current ratio of 0.60.

Centurylink (NYSE:CTL) last released its quarterly earnings results on Wednesday, November 6th. The technology company reported $0.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.01). Centurylink had a positive return on equity of 8.30% and a negative net margin of 34.77%. The business had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.53 billion. During the same period in the previous year, the company posted $0.30 EPS. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. Equities analysts expect that Centurylink will post 1.35 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the stock. 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 valued at $25,000 after buying an additional 1,866 shares in the last quarter. Cornerstone Advisors Inc. boosted its stake in Centurylink by 68.7% during the third quarter. Cornerstone Advisors Inc. now owns 2,058 shares of the technology company’s stock valued at $26,000 after buying an additional 838 shares in the last quarter. Farmers & Merchants Investments Inc. boosted its stake in Centurylink by 54.9% during the third quarter. Farmers & Merchants Investments Inc. now owns 2,823 shares of the technology company’s stock valued at $35,000 after buying an additional 1,000 shares in the last quarter. AGF Investments LLC bought a new position in Centurylink during the second quarter valued at about $38,000. Finally, 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 valued at $44,000 after buying an additional 2,725 shares in the last quarter. 73.51% of the stock is owned by institutional investors and hedge funds.

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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