Centurylink (NYSE:CTL) Releases Earnings Results, Beats Expectations By $0.03 EPS

Centurylink (NYSE:CTL) issued its quarterly earnings data on Wednesday, August 7th. The technology company reported $0.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.03, Bloomberg Earnings reports. The company had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.59 billion. Centurylink had a negative net margin of 34.77% and a positive return on equity of 8.30%. Centurylink’s revenue was down 5.4% compared to the same quarter last year. During the same period last year, the company posted $0.27 earnings per share.

Shares of CTL opened at $10.56 on Friday. Centurylink has a fifty-two week low of $9.64 and a fifty-two week high of $24.20. The firm’s 50 day moving average price is $11.63 and its 200 day moving average price is $11.90. The company has a quick ratio of 0.71, a current ratio of 0.60 and a debt-to-equity ratio of 2.53. The company has a market cap of $12.52 billion, a P/E ratio of 8.87, a PEG ratio of 0.99 and a beta of 0.85.

In other news, insider William Bruce Hanks acquired 10,000 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were bought at an average cost of $10.63 per share, with a total value of $106,300.00. Following the transaction, the insider now owns 92,172 shares in the company, valued at approximately $979,788.36. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director T Michael Glenn acquired 20,000 shares of the company’s stock in a transaction on 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. Over the last three months, insiders acquired 95,000 shares of company stock worth $941,550. Insiders own 0.50% of the company’s stock.

Several large investors have recently made changes to their positions in the business. California Public Employees Retirement System boosted its stake in Centurylink by 0.8% during the 2nd quarter. California Public Employees Retirement System now owns 1,661,110 shares of the technology company’s stock worth $19,535,000 after purchasing an additional 12,708 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in Centurylink by 9.4% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 209,605 shares of the technology company’s stock worth $2,465,000 after purchasing an additional 18,072 shares during the period. Worldquant Millennium Advisors LLC boosted its stake in Centurylink by 38.8% during the 2nd quarter. Worldquant Millennium Advisors LLC now owns 4,081,900 shares of the technology company’s stock worth $48,003,000 after purchasing an additional 1,141,997 shares during the period. Nuveen Asset Management LLC boosted its stake in Centurylink by 292.7% during the 2nd quarter. Nuveen Asset Management LLC now owns 7,153,338 shares of the technology company’s stock worth $84,123,000 after purchasing an additional 5,331,862 shares during the period. Finally, Peapack Gladstone Financial Corp acquired a new stake in Centurylink during the 2nd quarter worth $346,000. 75.51% of the stock is currently owned by institutional investors.

Several brokerages recently issued reports on CTL. Raymond James raised shares of Centurylink from an “underperform” rating to a “market perform” rating in a report on Thursday, August 8th. Guggenheim set a $10.00 target price on shares of Centurylink and gave the company a “hold” rating in a research note on Wednesday, August 7th. Wells Fargo & Co set a $14.00 target price on shares of Centurylink and gave the company a “buy” rating in a research note on Monday. JPMorgan Chase & Co. downgraded shares of Centurylink from a “neutral” rating to an “underweight” rating and set a $10.00 target price for the company. in a research note on Thursday, August 8th. Finally, Citigroup upgraded shares of Centurylink from a “sell” rating to a “neutral” rating in a report on Thursday, May 9th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $14.96.

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.

Recommended Story: How is an ETF different from a mutual fund?

Earnings History for Centurylink (NYSE:CTL)

Receive News & Ratings for Centurylink Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Centurylink and related companies with MarketBeat.com's FREE daily email newsletter.