Company Update (NYSE:CTL): Will CenturyLink’s Revenue Continue to Decline?

[at Market Realist] – According to Wall Street analyst consensus, CenturyLink’s revenue is expected to decrease slightly by ~0.6% YoY to ~$4.4 billion in 2Q16. Read more on this. CenturyLink, Inc. (CTL) , with a current market cap of $15.84B, began trading this morning at $28.48. During the trading session, CTL traded between $28.28 to $29.03 with its 52-week range being $21.94 to $32.94. Priced at 11.03x this year’s forecasted earnings, CTL shares are relatively inexpensive compared to the industry’s 21.24x forward p/e ratio. And for passive income investors, the company pays shareholders $2.16 per share annually in dividends, yielding 7.73%. Consensus earnings for the current quarter by the 16 sell-side analysts covering the stock is an estimate of $0.59 per share, which would be $0.04 better than the year-ago quarter and a $0.05 sequential decrease. Investors should also note that the full-year EPS estimate of $2.58 is a $0.13 setback when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $4.39 Billion. If realized, that would be a 0.68% decrease over the year-ago quarter. Recently, Evercore ISI Initiated CTL at Hold (Jun 22, 2016). Previously, Wells Fargo downgraded CTL from Outperform to Market Perform. Given all the information above, we should disclose to readers that the average price target is $29.60, which is 3.93% above than it opened this morning. See more in (NYSE:CTL) Similar Articles: Company Update: CenturyLink Inc (NYSE:CTL) – CenturyLink Declares Quarterly Cash Dividend Company Update: CenturyLink Inc (NYSE:CTL) – CenturyLink Development Center opens in St. Louis Stock Update (NYSE:CTL): Why Did CenturyLink’s Revenue Surprise Wall Street in 4Q15?