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CTL

CenturyLink

$13.84

-0.55 (-3.82%)

08:39
12/07/17
12/07
08:39
12/07/17
08:39

CenturyLink's special committee investigation finds no sales-related misconduct

CenturyLink announced that a Special Committee of independent board members has reported the findings of its review of the company's policies, procedures and practices relating to consumer sales, service and billing. The company's outside directors promptly and voluntarily formed the Special Committee after a former employee alleged that the company engaged in sales-related misconduct, including charging customers for services they did not order-a practice known as "cramming." The Special Committee's key findings: the investigation did not reveal evidence to conclude that any member of the company's management team engaged in fraud or wrongdoing; company management did not condone or encourage cramming, and the evidence did not show that cramming was common at the company. However, the company's investment in consumer sales monitoring was not sufficiently effective in proactively detecting and quantifying potential cramming. Some of the company's products, pricing and promotions were complex and caused confusion, and the resulting bills sometimes failed to meet customer expectations. Additionally, limitations in the company's ordering and billing software made it difficult to provide customers with estimates of their bills and confirmation of service letters that reflected all discounts, prorated charges, taxes and fees. Systems and human errors led to certain customers not receiving an offered point-of-sale discount. The company did not fully address this issue in a timely manner for some customers.

CTL CenturyLink
$13.84

-0.55 (-3.82%)

11/09/17
DBAB
11/09/17
NO CHANGE
Target $16
DBAB
Hold
CenturyLink keeping dividend an 'uphill battle,' says Deutsche Bank
Deutsche Bank analyst Matthew Niknam thinks the sustainability of CenturyLink's current dividend will remain in question until more meaningful inflections are seen in pro forma trends. In a post-earnings research note titled "Proving dividend sustainability will be an uphill battle," the analyst lowered his price target for the shares to $16 from $20 and keeps a Hold rating on CenturyLink.
11/09/17
JPMS
11/09/17
NO CHANGE
Target $26
JPMS
Overweight
CenturyLink shares to slowly rebound from here, says JPMorgan
JPMorgan analyst Philip Cusick believes CenturyLink shares were building in worse than the "soft" Q3 results and revenue outlook below the low-end of the previous range. CenturyLink maintained the current $2.16 dividend which implies a 13.3% yield, and all of the go-forward management emphasized their commitment to continuing to pay it, Cusick tells investors in a post-earnings research note. He believes a dividend cut was already built into the stock and expects shares to slowly rebound from current levels. The stock should be attractive to income-oriented investors, the analyst contends. He reiterates an Overweight rating on CenturyLink while trimming his price target to $26 from $28.
11/10/17
OPCO
11/10/17
NO CHANGE
Target $20
OPCO
Outperform
CenturyLink dividend cut logical, but unlikely, says Oppenheimer
At a 13% yield, it is logical for CenturyLink to cut the dividend in half to spend more on its network, but management is unlikely to do so, Oppenheimer analyst Timothy Horan tells investors in a research note. He now sees the payout ratio in the 80% range. CenturyLink is positioning itself to be a global, enterprise-focused company, which is the correct route, the analyst adds. He cut his price target for the shares to $20 from $28 and keeps an Outperform rating on the name.
11/28/17
GABE
11/28/17
NO CHANGE
Target $26
GABE
Buy
CenturyLink estimates lowered at Gabelli
Gabelli analyst Sergey Dluzhevskiy lowered CentruyLink estimate to reflect recent guidance and reduced revenue expectations and profitability for the legacy business. The analyst also lowered his valuation multiple to reflect the competitive environment, resulting in his private market value estimate moving to $26 from $29. Dluzhevskiy rates CenturyLink a Buy.

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