Company Update: CenturyLink Inc (NYSE:CTL) – CenturyLink Agrees To Sell $1.0 Billion Of Debt Securities

[PR Newswire] – MONROE, La., March 22, 2016 /PRNewswire/ — CenturyLink, Inc. (NYSE: CTL) announced today that it has agreed to sell $1.0 billion of newly-issued unsecured eight-year senior notes. CenturyLink intends to use the net proceeds from this offering, together with additional borrowings under its revolving credit facility and available cash, if any, to provide the total amount of funds required to fully retire at maturity on June 1, 2016 all $1.184 billion aggregate principal amount of 7.082% Notes issued by its wholly-owned subsidiary, Embarq Corporation. J.P. Morgan Securities LLC, Barclays Capital Inc., SunTrust Robinson Humphrey, Inc. and Mizuho Securities USA Inc. are the joint book-running managers for this offering. CenturyLink is offering the senior notes pursuant to its existing shelf registration statement. CenturyLink intends to file with the Securities and Exchange Commission a definitive prospectus supplement and accompanying prospectus describing the terms of this offering. Read more on this. CenturyLink, Inc. (CTL) , valued at $17.20B, began trading this morning at $31.70. A quick look at the market, the company’s stock traded between $31.60 and $32.09 and has traded between $21.94 and $37.00 over the past year. CTL shares are currently priced at 12.15x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 17.73x earnings multiple for the same period. And for income investors, the company pays shareholders $2.16 per share annually in dividends, yielding 6.81%. In a review of the consensus earnings estimate this quarter, 15 sell-side analysts are looking at $0.68 per share, which would be $0.01 better than the year-ago quarter and a $0.07 sequential increase. In looking at the bigger picture, the full-year EPS estimate of $2.61 would be a $0.10 worse when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $4.43 Billion. If reported, that would be a 0.45% decrease over the year-ago quarter. More recently, Jefferies downgraded CTL from Hold to Underperform (Mar 17, 2016). Previously, Deutsche Bank Initiated CTL at to Hold. Investors should keep in mind is that the average price target is $29.64, which is 6.50% below where the stock opened this morning. See more in (NYSE:CTL) Similar Articles: Company Update: CenturyLink Inc (NYSE:CTL) – CenturyLink Development Center opens in St. Louis Company Update: CenturyLink Inc (NYSE:CTL) – CenturyLink launches enhanced Managed Security Services Suite to help organizations detect, prevent and respond to cyberattacks Company Update: CenturyLink Inc (NYSE:CTL) – CenturyLink’s Revenue on Par with Analysts’ Expectations in 3Q15
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