The stock of CenturyLink, Inc. (NYSE:CTL) is now priced at $10.75 and the shares are -0.24 points down or -2.18% lower compared to its previous closing price of $10.99. The stock had 13.545 million contracts set over the past session. CTL shares’ daily volume is compared to its average trading volume at 11.723 million shares. However, it has a float of 991 million and although its performance was -5.87% over the week, it’s one to watch. Analysts have given the CTL stock a yearly average price target of $9.66 per share. It means the stock’s downside potential is -10.14% with the CTL share price recently placing at $10.74 to $10.99. However, some brokerage firms have priced the stock below the average, including one that has called $7.
The shorts are running away from the CenturyLink, Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the CTL shares have declined. Short interest in the stock represents just 11.43% of its float, but the volume has dropped by 0.
In the last trading session, CenturyLink, Inc. (NYSE:CTL) dropped by -$0.67 over the week and gained $0.95 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $15.3. The stock recorded its established 52-week high on 02/12/20.
Since 03/23/20, the stock has traded to a low of $8.16 at 31.74%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.05. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, CenturyLink, Inc.’s two-week RSI is 50.84. This suggests that the stock is neutral at the moment and that CTL shares’ price movement remains stable. The stochastic readings are equally revealing at 44.82% meaning the CTL share price is currently in neutral territory.
The technical chart shows that the CTL stock will likely settle at between $10.91 and $11.08 per share. However, if the stock dips below $10.66, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $10.58.
Currently, the stock is trading in the red of MACD, with a reading of -0.11. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Oppenheimer cut their recommendation for CTL from Outperform to Perform in July 15 review. Guggenheim analysts upgraded their recommendation of the stock from Sell to Neutral in a flash note released to investors on April 02. Goldman seeing the stock struggling downgraded it from Neutral to Sell on April 01 placing it at $14 to $7.
The average rating for the CTL equity is 3.47 and is currently gathering a bearish momentum. Of 15 analysts tracking CenturyLink, Inc. polled by Reuters, 7 rated CTL as a hold. The remaining 8 analysts were split evenly. However, the split wasn’t equal as a majority (1) rated it as a buy or strong buy. 7 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the CTL stock price is 7.96X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 9.5 below the group’s average of 23.1. CenturyLink, Inc. has its P/E ratio at 0.9, which means that the stock is currently trading at a discount relative to the 1.6 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for CenturyLink, Inc. (NYSE:CTL) will decrease by about -1%, which will see them reach $5140 million. The company’s full-year revenues are, however, expected to diminish by about -7.81%, down from $22400 million to $20700 million. CTL’s expected adjusted earnings should drop almost -3.23% to end up at $0.3 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 2.27% to record $1.35/share.