Centurylink Inc (CTL) is Downgraded by Wells Fargo to Market Perform

Centurylink Inc (CTL) was Downgraded by Wells Fargo to ” Market Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. Wells Fargo advised their investors in a research report released on May 3, 2016.

Many Wall Street Analysts have commented on Centurylink Inc. Company shares were Reiterated by Deutsche Bank on Apr 12, 2016 to “Hold”, Firm has raised the Price Target to $ 30 from a previous price target of $28 .Centurylink Inc was Downgraded by Jefferies to ” Underperform” on Mar 17, 2016. Deutsche Bank Initiated Centurylink Inc on Feb 24, 2016 to “Hold”, Price Target of the shares are set at $28.

On the company’s financial health, Centurylink Inc reported $0.80 EPS for the quarter, beating the analyst consensus estimate by $ 0.15 according to the earnings call on Feb 10, 2016. Analyst had a consensus of $0.65. The company had revenue of $4480.00 million for the quarter, compared to analysts expectations of $4415.77 million. The company’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 EPS.

Centurylink Inc opened for trading at $31.19 and hit $31.5 on the upside on Monday, eventually ending the session at $31.48, with a gain of 1.71% or 0.53 points. The heightened volatility saw the trading volume jump to 77,44,284 shares. Company has a market cap of $17,120 M.

In a different news, on Feb 19, 2016, Maxine L Moreau (EVP, Global Ops & Shared Svcs) sold 3,841 shares at $30.23 per share price. According to the SEC, on Jan 15, 2016, C G Jr Melville (director) sold 700 shares at $23.28 per share price. On Dec 11, 2015, Laurie Siegel (director) sold 4,983 shares at $26.94 per share price, according to the Form-4 filing with the securities and exchange commission.

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.

Centurylink Inc

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