Centurylink Inc (CTL) was Downgraded by Morgan Stanley to ” Underweight” while Lowering the Price Target of the company shares to $ 27 from a previous price target of $31 . Earlier the firm had a rating of “Equal-Weight ” on the company shares. Morgan Stanley advised their investors in a research report released on Jul 18, 2016.
Many Wall Street Analysts have commented on Centurylink Inc. Macquarie Initiated Centurylink Inc on Jul 11, 2016 to “Neutral”, Price Target of the shares are set at $31.Centurylink Inc was Initiated by Evercore ISI to “Hold” on Jun 22, 2016. Centurylink Inc was Downgraded by Wells Fargo to ” Market Perform” on May 3, 2016.
On the company’s financial health, Centurylink Inc reported $0.71 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on May 4, 2016. Analyst had a consensus of $0.68. The company had revenue of $4401.00 million for the quarter, compared to analysts expectations of $4425.72 million. The company’s revenue was down -1.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.67 EPS.
Centurylink Inc opened for trading at $31.53 and hit $31.56 on the upside on Friday, eventually ending the session at $31.32, with a gain of 0.06% or 0.02 points. The heightened volatility saw the trading volume jump to 45,68,449 shares. Company has a market cap of $17,102 M.
In a different news, on Jul 15, 2016, Harvey P Perry (director) sold 20,000 shares at $31.00 per share price. According to the SEC, on Feb 19, 2016, Maxine L Moreau (EVP, Global Ops & Shared Svcs) sold 3,841 shares at $30.23 per share price. On Jan 15, 2016, C G Jr Melville (director) sold 700 shares at $23.28 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.