Cornercap Investment Counsel Inc Lowers stake in Centurylink Inc (CTL)

Centurylink Inc (CTL) : Cornercap Investment Counsel Inc reduced its stake in Centurylink Inc by 5.38% during the most recent quarter end. The investment management company now holds a total of 258,582 shares of Centurylink Inc which is valued at $7,747,117 after selling 14,705 shares in Centurylink Inc , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Centurylink Inc makes up approximately 1.39% of Cornercap Investment Counsel Inc’s portfolio.

Other Hedge Funds, Including , Bronfman E.l. Rothschild boosted its stake in CTL in the latest quarter, The investment management firm added 155 additional shares and now holds a total of 1,752 shares of Centurylink Inc which is valued at $52,490. Centurylink Inc makes up approx 0.01% of Bronfman E.l. Rothschild’s portfolio.Dimensional Fund Advisors Lp boosted its stake in CTL in the latest quarter, The investment management firm added 1,823,847 additional shares and now holds a total of 9,037,670 shares of Centurylink Inc which is valued at $273,660,648. Centurylink Inc makes up approx 0.15% of Dimensional Fund Advisors Lp’s portfolio.First Trust Advisors Lp reduced its stake in CTL by selling 159,325 shares or 4.64% in the most recent quarter. The Hedge Fund company now holds 3,271,319 shares of CTL which is valued at $97,747,012. Centurylink Inc makes up approx 0.30% of First Trust Advisors Lp’s portfolio.Smith Asset Management Group Lp reduced its stake in CTL by selling 4,160 shares or 0.71% in the most recent quarter. The Hedge Fund company now holds 580,779 shares of CTL which is valued at $17,835,723. Centurylink Inc makes up approx 0.52% of Smith Asset Management Group Lp’s portfolio.

Centurylink Inc closed down -0.01 points or -0.03% at $28.75 with 40,11,342 shares getting traded on Monday. Post opening the session at $28.89, the shares hit an intraday low of $28.64 and an intraday high of $29 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Centurylink Inc reported $0.63 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $0.59. The company had revenue of $4398.00 million for the quarter, compared to analysts expectations of $4390.47 million. The company’s revenue was down -.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.55 EPS.

Many Wall Street Analysts have commented on Centurylink Inc. Company shares were Reiterated by RBC Capital Mkts on Aug 8, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 31 from a previous price target of $29 .Shares were Downgraded by Morgan Stanley on Jul 18, 2016 to ” Underweight” and Lowered the Price Target to $ 27 from a previous price target of $31 .Macquarie Initiated Centurylink Inc on Jul 11, 2016 to “Neutral”, Price Target of the shares are set at $31.

CenturyLink Inc. is an integrated communications company. The Company is engaged in providing an array of communications services to residential business governmental and wholesale customers. The Company’s communications services include local and long-distance broadband private line Multi-Protocol Label Switching (MPLS) data integration managed hosting colocation Ethernet network access video wireless and other ancillary services. The Company operates in two segments: Business and Consumer. The Business segment provides strategic legacy and data integration products and services to enterprise wholesale and governmental customers including other communication providers. The Consumer segment provides strategic and legacy products and services to residential customers.

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