Centurylink Inc (NYSE:CTL) declared a quarterly dividend on Thursday, May 23rd, RTT News reports. Investors of record on Monday, June 3rd will be given a dividend of 0.25 per share by the technology company on Friday, June 14th. This represents a $1.00 annualized dividend and a dividend yield of 10.35%. The ex-dividend date of this dividend is Friday, May 31st.
Centurylink has a dividend payout ratio of 93.5% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Centurylink to earn $1.37 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 73.0%.
Shares of CTL stock traded down $0.30 during trading on Thursday, hitting $9.66. The company had a trading volume of 12,334,424 shares, compared to its average volume of 13,146,203. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 2.68. The stock has a market cap of $11.15 billion, a price-to-earnings ratio of 8.12, a price-to-earnings-growth ratio of 0.91 and a beta of 0.74. Centurylink has a 52 week low of $9.91 and a 52 week high of $24.20.
Several research analysts recently weighed in on the stock. Guggenheim upgraded shares of Centurylink from a “sell” rating to a “neutral” rating and set a $10.00 price objective on the stock in a research report on Thursday. They noted that the move was a valuation call. ValuEngine lowered Centurylink from a “sell” rating to a “strong sell” rating in a research note on Thursday, February 14th. Citigroup lowered Centurylink from a “neutral” rating to a “sell” rating and set a $14.48 target price for the company. in a research note on Tuesday, February 5th. Zacks Investment Research lowered Centurylink from a “buy” rating to a “hold” rating in a research note on Tuesday, April 16th. Finally, Bank of America lowered Centurylink from a “buy” rating to a “neutral” rating and set a $14.00 target price for the company. in a research note on Tuesday, February 26th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $16.58.
In other Centurylink news, CEO Jeffrey K. Storey purchased 83,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was bought at an average price of $11.94 per share, with a total value of $991,020.00. Following the completion of the purchase, the chief executive officer now directly owns 3,476,359 shares of the company’s stock, valued at approximately $41,507,726.46. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Indraneel Dev purchased 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was acquired at an average cost of $11.75 per share, with a total value of $587,500.00. Following the purchase, the chief financial officer now directly owns 459,153 shares of the company’s stock, valued at $5,395,047.75. The disclosure for this purchase can be found here. In the last three months, insiders have bought 190,000 shares of company stock valued at $2,212,330. Insiders own 0.50% of the company’s stock.
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Centurylink Company Profile
CenturyLink, Inc provides various communications services to residential, business, wholesale, and governmental customers in the United States and internationally. The company operates in two segments, Business and Consumer. It offers VPN data network services; Ethernet services; Internet protocol (IP) services; facilities-based Prism TV service, as well as satellite digital television services; CDN services; and Vyvx broadcast services.
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