Revenue Update on Centurylink Inc(NYSE:CTL)

Centurylink Inc(NYSE:CTL) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 3, 2016. Company reported revenue of $4.40B. Analysts estimated a revenue of $4.39B. Earnings per share were $0.63. Analysts had estimated an EPS of $0.59.

In a different note, On Jul 18, 2016, Morgan Stanley said it Downgrades its rating on Centurylink Inc. In the research note, the firm Lowers the price-target to $31.00 per share. The shares have been rated ‘Underweight’ by the firm. Macquarie said it Initiates Coverage on Centurylink Inc, according to a research note issued on Jul 11, 2016. The shares have been rated ‘Neutral’ by the firm. Evercore ISI Group said it Initiates Coverage on Centurylink Inc, according to a research note issued on Jun 21, 2016. The shares have been rated ‘Hold’ by the firm.

Centurylink Inc (CTL) shares turned negative on Fridays trading session with the shares closing down -0.46 points or -1.51% at a volume of 31,97,912. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $30.515. The peak price level was also seen at $30.515 while the days lowest was $29.885. Finally the shares closed at $29.96. The 52-week high of the shares is $32.94 while the 52-week low is $21.94. According to the latest information available, the market cap of the company is $16,357 M.

Several Insider Transactions has been reported to the SEC. On Jul 15, 2016, Harvey P Perry (director) sold 20,000 shares at $31.00 per share price.Also, 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.

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