Centurylink Inc (CTL) reported quarterly earnings results on Wednesday, Aug-3-2016. The company said it had a profit of $0.63 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.04. Analysts had a consensus of $0.59. The company posted revenue of $4398.00 million in the period, 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. 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 was Initiated by Evercore ISI to “Hold” on Jun 22, 2016.
Centurylink Inc closed down -0.43 points or -1.39% at $30.59 with 66,78,694 shares getting traded on Tusday. Post opening the session at $31.02, the shares hit an intraday low of $30.37 and an intraday high of $31.08 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.
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.