Washington Trust Bank increased its position in CenturyLink, Inc. (NYSE:CTL) by 0.2% during the second quarter, Holdings Channel reports. The firm owned 16,809 shares of the technology company’s stock after buying an additional 33 shares during the period. Washington Trust Bank’s holdings in CenturyLink were worth $401,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Parkwood LLC boosted its position in CenturyLink by 26.0% in the first quarter. Parkwood LLC now owns 53,087 shares of the technology company’s stock worth $1,251,000 after buying an additional 10,949 shares during the period. First Manhattan Co. boosted its position in CenturyLink by 1.8% in the first quarter. First Manhattan Co. now owns 37,218 shares of the technology company’s stock worth $1,020,000 after buying an additional 645 shares during the period. Macquarie Group Ltd. boosted its position in CenturyLink by 69.8% in the fourth quarter. Macquarie Group Ltd. now owns 44,100 shares of the technology company’s stock worth $1,049,000 after buying an additional 18,124 shares during the period. Exane Derivatives boosted its position in CenturyLink by 29.7% in the first quarter. Exane Derivatives now owns 5,209 shares of the technology company’s stock worth $123,000 after buying an additional 1,194 shares during the period. Finally, Vanguard Group Inc. boosted its position in CenturyLink by 19.4% in the first quarter. Vanguard Group Inc. now owns 46,767,917 shares of the technology company’s stock worth $1,102,321,000 after buying an additional 7,600,609 shares during the period. 77.49% of the stock is owned by hedge funds and other institutional investors.
CenturyLink, Inc. (NYSE CTL) traded up 0.65% during midday trading on Friday, reaching $23.37. 8,060,995 shares of the company traded hands. CenturyLink, Inc. has a one year low of $22.26 and a one year high of $33.45. The firm has a 50-day moving average price of $24.62 and a 200-day moving average price of $24.62. The firm has a market capitalization of $12.83 billion, a price-to-earnings ratio of 22.91 and a beta of 0.88.
CenturyLink (NYSE:CTL) last issued its earnings results on Wednesday, May 3rd. The technology company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.53 by $0.01. CenturyLink had a return on equity of 8.96% and a net margin of 3.20%. The company had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.27 billion. During the same quarter in the prior year, the business earned $0.71 EPS. The firm’s revenue for the quarter was down 4.4% compared to the same quarter last year. Equities analysts predict that CenturyLink, Inc. will post $2.08 EPS for the current fiscal year.
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A number of equities analysts have commented on CTL shares. Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating and set a $19.00 price objective on shares of CenturyLink in a research report on Saturday, March 25th. Zacks Investment Research raised shares of CenturyLink from a “sell” rating to a “hold” rating in a research report on Tuesday, April 11th. Vetr raised shares of CenturyLink from a “buy” rating to a “strong-buy” rating and set a $27.12 price objective for the company in a research report on Monday, May 8th. Cowen and Company lifted their price objective on shares of CenturyLink from $25.00 to $27.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 5th. Finally, Raymond James Financial, Inc. reaffirmed an “underperform” rating on shares of CenturyLink in a research report on Monday, May 15th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $26.22.
CenturyLink, Inc is an integrated communications company. The Company is engaged in providing an array of communications services to its residential and business customers. Its segments include business, which provides strategic, legacy and data integration products and services to small, medium and enterprise business, wholesale and governmental customers, including other communication providers, and consumer, which provides strategic and legacy products and services to residential customers.
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