SSgA Funds Management, Inc. recently announced the acquisition of new stake in CenturyLink Inc. (NYSE:CTL). The institutional investor has increased its shareholding in the Communication Services company by 0.90% to 62.15 million shares with purchase of 0.55 million shares. This fresh investment now brings its stake to 5.66% valued currently at $599.78 million. In addition, Dimensional Fund Advisors LP raised its holdings by 0.33 million to 19.2 million shares. And First Trust Advisors LP has lifted its position by 136.25% or 9.06 million shares – to 15.71 million shares.
With over 11.25 million CenturyLink Inc. (CTL) shares trading Monday and a closing price of $11.42 on the day, the dollar volume was approximately $128.44 million. The shares have shown a positive weekly performance of 5.74% and its price on 08/24/20 gained nearly 3.72%. Currently, there are 1.08B common shares owned by the public and among those 991.49M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 16 analysts who have offered their price forecasts for CTL have a consensus price objective of $9.69. The analysts have set the share’s price value over the next 12 months at a high of $13.80 and a low of $7.00 should the stock experience a downside. Incidentally, analysts’ outlook for the CenturyLink Inc. stock is 3.50 for the next 12 months. The average price target is -19.33% below its last price level and a downside to the estimated low will see the stock lose -63.14% over that period. But an upside of 17.25% will see the stock hit the forecast high price target while mean target price for the stock is $10.00.
Insiders at the company have transacted a total of 59 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 30 of these insider trades were purchases, accounting for 2,008,712 shares. Insider sales of the common stock occurred on 29 occasions, with total insider shares sold totaling 672,169 shares.
The top 3 mutual fund holders in CenturyLink Inc. are Vanguard Total Stock Market Index, Vanguard Mid Cap Index Fund, and Vanguard 500 Index Fund. Vanguard Total Stock Market Index owns 31.17 million shares of the company’s stock, all valued at over $300.75 million. The company sold 99480.0 shares recently to bring their total holdings to about 2.84% of the shares outstanding. Vanguard Mid Cap Index Fund sold -0.18 million shares to see its total holdings shrink to 26.96 million shares valued at over $260.13 million and representing 2.46% of the shares outstanding. Vanguard 500 Index Fund sold -0.14 million shares to bring its total holdings to over 20.36 million shares at a value of $196.46 million. Vanguard 500 Index Fund now owns shares totaling to 1.86% of the shares outstanding.
Shares of CenturyLink Inc. (NYSE: CTL) opened at $11.11, up $0.1 from a prior closing price of $11.01. However, the script later closed the day at $11.42, up 3.72%. The company’s stock has a 5-day price change of 5.74% and 14.54% over the past three months. CTL shares are trading -13.55% year to date (YTD), with the 12-month market performance up to 1.87% higher. It has a 12-month low price of $8.16 and touched a high of $15.30 over the same period. Currently, 11.25 million shares have been traded, compared to an average intraday trading volume of 12.04 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 9.28%, 12.69%, and -1.50% respectively.
Institutional ownership of CenturyLink Inc. (NYSE: CTL) shares accounts for 79.30% of the company’s 1.08B shares outstanding. Mutual fund holders own 38.49%, while other institutional holders and individual stakeholders account for 40.24% and 10.92% respectively.
It has a market capitalization of $12.52B and a beta (3y monthly) value of 1.01. The stock’s trailing 12-month PE ratio is 10.13, while the earnings-per-share (ttm) stands at $1.13. The company has a PEG of 6.76 and a Quick Ratio of 0.60 with the debt-to-equity ratio at 2.55. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.96% over the week and 3.37% over the month.
Analysts forecast that CenturyLink Inc. (CTL) will achieve an EPS of $0.3 for the current quarter, $0.3 for the next quarter and $1.35 for 2021. The lowest estimate earnings-per-share for the quarter is $0.22 while analysts give the company a high EPS estimate of $0.35. Comparatively, EPS for the current quarter was $0.31 a year ago. Earnings per share for the fiscal year are expected to decrease by -219.40%, and 0.30% over the next financial year. EPS should grow at an annualized rate of 1.50% over the next five years, compared to -41.30% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 16 brokerage firm advisors rate CenturyLink Inc. (CTL) as a “Hold” at a consensus score of 3.50. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 7 of the 16 advise that investors “hold,” and 6 rated it as a “Sell.”
Looking at the support for the CTL, a number of firms have released research notes about the stock. Oppenheimer stated their Perform rating for the stock in a research note on July 15, 2020, with the firm’s price target at. Guggenheim coverage for the CenturyLink Inc. (CTL) stock in a research note released on April 02, 2020 offered a Neutral rating with a price target of. Goldman was of a view on April 01, 2020 that the stock is Sell, while Citigroup gave the stock Sell rating on March 25, 2020, issuing a price target of $13- $6. Raymond James on their part issued Underperform rating on March 16, 2020.