CenturyLink (CTL) Debt Trading 1.5% Higher

An issue of CenturyLink, Inc. (NYSE:CTL) debt rose 1.5% as a percentage of its face value during trading on Tuesday. The high-yield debt issue has a 7.5% coupon and is set to mature on April 1, 2024. The bonds in the issue are now trading at $99.00 and were trading at $96.75 one week ago. Price moves in a company’s debt in credit markets often predict parallel moves in its share price.

CTL has been the topic of several research analyst reports. Jefferies Group lowered their price target on shares of CenturyLink to $17.00 and set a “hold” rating on the stock in a report on Thursday, November 9th. Oppenheimer decreased their target price on shares of CenturyLink from $28.00 to $20.00 and set an “outperform” rating on the stock in a research report on Friday, November 10th. Deutsche Bank restated a “hold” rating and set a $16.00 target price on shares of CenturyLink in a research report on Thursday, November 9th. Zacks Investment Research upgraded shares of CenturyLink from a “sell” rating to a “hold” rating in a research report on Friday, October 13th. Finally, SunTrust Banks restated a “hold” rating and set a $25.00 target price on shares of CenturyLink in a research report on Wednesday, November 1st. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $23.07.

CenturyLink, Inc. (NYSE:CTL) traded down $0.17 during midday trading on Tuesday, hitting $15.70. 15,525,161 shares of the company traded hands, compared to its average volume of 10,982,823. The company has a debt-to-equity ratio of 1.92, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market cap of $16,800.00, a price-to-earnings ratio of 7.56, a price-to-earnings-growth ratio of -4.59 and a beta of 0.79. CenturyLink, Inc. has a twelve month low of $13.16 and a twelve month high of $27.61.

CenturyLink (NYSE:CTL) last posted its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.42 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.03). The firm had revenue of $4.03 billion for the quarter, compared to analyst estimates of $4.06 billion. CenturyLink had a return on equity of 7.99% and a net margin of 1.89%. The business’s revenue was down 7.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.56 EPS. equities research analysts predict that CenturyLink, Inc. will post 1.6 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, December 11th. Investors of record on Monday, November 27th were given a dividend of $0.54 per share. The ex-dividend date was Friday, November 24th. This represents a $2.16 annualized dividend and a dividend yield of 13.76%. CenturyLink’s dividend payout ratio is 372.41%.

In related news, Vice Chairman William Bruce Hanks bought 10,000 shares of the business’s stock in a transaction on Friday, December 8th. The shares were purchased at an average price of $14.41 per share, for a total transaction of $144,100.00. Following the completion of the transaction, the insider now directly owns 58,722 shares of the company’s stock, valued at approximately $846,184.02. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Glen F. Post III bought 50,000 shares of the business’s stock in a transaction on Friday, December 8th. The stock was bought at an average price of $14.17 per share, for a total transaction of $708,500.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 150,595 shares of company stock worth $2,154,131 in the last quarter. 0.61% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of CTL. Vanguard Group Inc. boosted its position in CenturyLink by 22.6% in the second quarter. Vanguard Group Inc. now owns 57,351,163 shares of the technology company’s stock valued at $1,369,547,000 after buying an additional 10,583,246 shares in the last quarter. Capital World Investors acquired a new stake in CenturyLink in the second quarter valued at approximately $142,086,000. Standard Life Investments LTD acquired a new stake in CenturyLink in the second quarter valued at approximately $112,613,000. Fiduciary Management Inc. WI acquired a new stake in CenturyLink in the second quarter valued at approximately $86,411,000. Finally, Samlyn Capital LLC acquired a new stake in CenturyLink in the second quarter valued at approximately $80,290,000. Hedge funds and other institutional investors own 82.32% of the company’s stock.

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About CenturyLink

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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