The stock of Centurylink Inc (NYSE:CTL) is a huge mover today! About 6.45M shares traded hands. Centurylink Inc (NYSE:CTL) has declined 28.19% since April 5, 2016 and is downtrending. It has underperformed by 30.15% the S&P500.
The move comes after 7 months positive chart setup for the $13.41 billion company. It was reported on Nov, 8 by Barchart.com. We have $32.74 PT which if reached, will make NYSE:CTL worth $4.69 billion more.
Centurylink Inc (NYSE:CTL) Ratings Coverage
Out of 12 analysts covering Centurylink Inc. (NYSE:CTL), 1 rate it a “Buy”, 3 “Sell”, while 8 “Hold”. This means 8% are positive. Centurylink Inc. has been the topic of 21 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The stock of Centurylink Inc (NYSE:CTL) has “Underweight” rating given on Tuesday, September 15 by Barclays Capital. The stock has “Neutral” rating given by Macquarie Research on Monday, July 11. Jefferies downgraded the stock to “Underperform” rating in Thursday, March 17 report. The rating was maintained by Citigroup on Friday, August 7 with “Neutral”. Evercore initiated the shares of CTL in a report on Wednesday, June 22 with “Hold” rating. The firm has “Neutral” rating given on Monday, March 14 by Citigroup. As per Friday, October 28, the company rating was downgraded by Raymond James. The firm earned “Market Perform” rating on Tuesday, May 3 by Wells Fargo. The firm has “Hold” rating by Jefferies given on Friday, July 31. The firm has “Sector Perform” rating given on Tuesday, September 22 by RBC Capital Markets.
According to Zacks Investment Research, “CenturyLink, Inc. is a telecommunications company that provides broadband, voice and wireless services to consumers and businesses in the United States. It also offers entertainment services under the CenturyLink, Prism TV and DIRECTV brands. In addition, the company provides data, voice and managed services to business, government and wholesale customers in local, national and select international markets through its fiber optic network and multiple data centers. CenturyLink, Inc., formerly known as CenturyTel, Inc., is headquartered in Monroe, Louisiana.”
Insitutional Activity: The institutional sentiment decreased to 1.14 in 2016 Q2. Its down 0.04, from 1.18 in 2016Q1. The ratio dropped, as 56 funds sold all Centurylink Inc shares owned while 180 reduced positions. 37 funds bought stakes while 231 increased positions. They now own 384.28 million shares or 5.87% less from 408.25 million shares in 2016Q1.
Connor Clark Lunn Inv Mgmt Ltd reported 507,674 shares or 0.11% of all its holdings. Babson Cap Management Ltd Liability accumulated 93,289 shares or 0.07% of the stock. Moreover, Raymond James Trust Na has 0.08% invested in Centurylink Inc (NYSE:CTL) for 32,306 shares. Joel Isaacson And Limited Liability Company, a New York-based fund reported 3,750 shares. Mutual Of America Management Limited Liability Com has invested 0.05% of its portfolio in Centurylink Inc (NYSE:CTL). The California-based California Employees Retirement Sys has invested 0.1% in Centurylink Inc (NYSE:CTL). Dubuque Bank & Trust And has 38 shares for 0% of their US portfolio. The New York-based Blackrock has invested 0.05% in Centurylink Inc (NYSE:CTL). Checchi Cap Advisers Limited Liability Com reported 6,105 shares or 0.02% of all its holdings. Employees Retirement Sys Of Texas holds 0.03% or 86,000 shares in its portfolio. Moreover, Livforsakringsbolaget Skandia Omsesidigt has 0.07% invested in Centurylink Inc (NYSE:CTL) for 51,351 shares. Gargoyle Invest Advisor Ltd owns 109,182 shares or 1.18% of their US portfolio. The Japan-based Norinchukin National Bank & Trust The has invested 0.04% in Centurylink Inc (NYSE:CTL). Spirit Of America Mgmt Ny has invested 0.01% of its portfolio in Centurylink Inc (NYSE:CTL). Dnb Asset As holds 42,067 shares or 0% of its portfolio.
Insider Transactions: Since October 27, 2016, the stock had 0 insider buys, and 2 sales for $1.32 million net activity. The insider PERRY HARVEY P sold $325,000. Another trade for 30,000 shares valued at $990,000 was made by COLE DAVID D on Thursday, October 27.
More notable recent Centurylink Inc (NYSE:CTL) news were published by: Reuters.com which released: “BRIEF-Centurylink Inc – plans to use net cash proceeds from divestiture to…” on November 07, 2016, also Bloomberg.com with their article: “CenturyLink to Buy Level 3 for $34 Billion in Cash, Stock” published on October 31, 2016, 9News.com published: “CenturyLink selling data centers to help pay for Level 3 buy” on November 04, 2016. More interesting news about Centurylink Inc (NYSE:CTL) were released by: Fool.com and their article: “Why CenturyLink Inc Stock Just Soared 18%, and Level 3 Communications Is Up 13%” published on October 27, 2016 as well as Prnewswire.com‘s news article titled: “CenturyLink announces gigabit service now available to 14000 MTUs in its footprint” with publication date: October 10, 2016.
CTL Company Profile
CenturyLink, Inc., incorporated on May 7, 1968, is an integrated communications company. The Firm is engaged in providing an array of communications services to residential and business customers. The Company’s divisions include Business and Consumer. The Company’s communications services include local and long-distance voice, high-speed Internet, Multi-Protocol Label Switching (MPLS), private line (including special access), data integration, Ethernet, colocation, managed hosting (including cloud hosting), network, public access, video, wireless and other ancillary services. The Firm operates approximately 11.7 million access lines, served approximately six million high-speed Internet subscribers and over 280 thousand Prism television subscribers. It also operates approximately 60 data centers throughout North America, Europe and Asia. The Firm categorizes its products, services and revenues into approximately four categories, including Strategic services, Legacy services, Data integration and Other operating revenues.
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