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CTL

CenturyLink

$14.67

0.12 (0.82%)

14:49
02/13/19
02/13
14:49
02/13/19
14:49

CenturyLink options imply 15.5% move in share price post-earnings, above median historical move

Pre-earnings options volume in CenturyLink is 1.7x normal with calls leading puts 5:4. Implied volatility suggests the market is anticipating a move near 15.5%, or $2.27, after results are released. Median move over the past eight quarters is 7.1%.

  • 13

    Feb

  • 25

    Feb

CTL CenturyLink
$14.67

0.12 (0.82%)

01/29/19
JPMS
01/29/19
NO CHANGE
Target $38
JPMS
Overweight
CenturyLink deal for Zayo Group could be difficult, says JPMorgan
JPMorgan analyst Philip Cusick says within the potential reported bidders for Zayo Group (ZAYO), he remains "somewhat skeptical" of a strategic transaction by a customer. He sees many of the customers as either not really needing to own the asset or not wanting to own parts of the assets. However, a deal with CenturyLink (CTL) could make strategic sense, says Cusick, who models $280M of annual synergies in his base case. The analyst, though, feels CenturyLink acquiring Zayo could be difficult given CenturyLink's "stretched balance sheet and very expensive cost of equity." Regardless of a potential deal, Cusick continues to recommend Zayo shares with an Overweight rating and $38 target, mostly based on fundamental improvements from here with the potential for a "faster return through M&A."
02/05/19
SBSH
02/05/19
DOWNGRADE
SBSH
Sell
CenturyLink downgraded to Sell from Neutral at Citi
Citi analyst Michael Rollins downgraded CenturyLink to Sell.
02/05/19
SBSH
02/05/19
DOWNGRADE
Target $11
SBSH
Sell
Citi sees 50% dividend cut for CenturyLink in 2020, downgrades to Sell
Citi analyst Michael Rollins downgraded CenturyLink to Sell from Neutral and cut his price target for the shares to $11 from $19. The analyst expects headwinds on revenue and cash flow, a possible dividend cut, and the likelihood for capex upgrades to lead to further multiple contraction. CenturyLink will face a "growing tug of war" on cash flow beginning in 2019, which will result in a dividend payout level "well above its previously articulated comfort zone," Rollins tells investors in a research note. The analyst forecasts a 50% dividend cut in 2020 for CenturyLink. Further, he believes a sum-of-parts approach "is not compelling" given that the heritage CenturyLink operations are experiencing mid-single digit revenue declines and Level 3 hasn't grown revenue over the last two years.
02/05/19
02/05/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Rent-A-Center (RCII) downgraded to Neutral from Buy at Janney Montgomery Scott with analyst John Rowan citing the stock's 50% rise from its intra-day low of $11.98 on December 18, 2018. 2. Equifax (EFX) downgraded to Hold from Buy at Deutsche Bank with analyst Ashish Sabadra saying the shares have rallied significantly off the bottom and outperformed the market year-to-date due to expectations for improving mortgage originations and overall consumer lending. 3. Kraft Heinz (KHC) downgraded to Hold from Buy at Deutsche Bank with analyst Rob Dickerson saying his analysis shows store brands continue to increase distribution points and take share in the majority of Kraft Heinz's largest categories. 4. CenturyLink (CTL) downgraded to Sell from Neutral at Citi with analyst Michael Rollins saying he expects headwinds on revenue and cash flow, a possible dividend cut, and the likelihood for capex upgrades to lead to further multiple contraction. 5. Cronos Group (CRON) downgraded to Hold from Buy at GMP Securities with analyst Martin Landry citing valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

XOG

Extraction Oil & Gas

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-0.1 (-2.56%)

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ECOL

US Ecology

$65.48

-0.48 (-0.73%)

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ECOL

US Ecology

$65.48

-0.48 (-0.73%)

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Z

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WIFI

Boingo Wireless

$24.78

-1.23 (-4.73%)

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Qualcomm

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-0.1 (-0.19%)

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HK

Halcon Resources

$1.79

-0.07 (-3.76%)

16:46
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Halcon announces departures of CEO Floyd Wilson, CFO Mark Mize »

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PIN

Pinterest

$23.23

(0.00%)

16:46
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Periodicals
Pinterest files confidentially for IPO, eyeing a late-June listing, WSJ says »

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SLRC

Solar Capital

$21.27

0.34 (1.62%)

16:45
02/21/19
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Earnings
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  • 22

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TRIL

Trillium Therapeutics

$1.28

0.08 (6.67%)

16:45
02/21/19
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Syndicate
Trillium Therapeutics files to sell common share units, no amount given »

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GDP

Goodrich Petroleum

$13.53

0.03 (0.22%)

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NYMT

New York Mortgage

$6.25

-0.03 (-0.48%)

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  • 22

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CHSP

Chesapeake Lodging

$29.41

0.01 (0.03%)

16:42
02/21/19
02/21
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Earnings
Breaking Earnings news story on Chesapeake Lodging »

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  • 21

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FLXN

Flexion

$14.22

-0.22 (-1.52%)

16:42
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  • 28

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KNSL

Kinsale Capital Group

$61.63

-0.43 (-0.69%)

16:42
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CHSP

Chesapeake Lodging

$29.41

0.01 (0.03%)

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  • 21

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CHSP

Chesapeake Lodging

$29.41

0.01 (0.03%)

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Earnings
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GMED

Globus Medical

$47.68

0.05 (0.10%)

16:40
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Earnings
Globus Medical sees FY19 EPS $1.72, consensus $1.72 »

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SEM

Select Medical

$15.49

-0.11 (-0.71%)

16:40
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Select Medical extends $500M share repurchase program »

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  • 22

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ULH

Universal Logistics

$23.66

(0.00%)

16:39
02/21/19
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Earnings
Universal Logistics reports Q4 EPS 32c, consensus 41c »

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  • 22

    Feb

CASA

Casa Systems

$11.96

-0.02 (-0.17%)

16:39
02/21/19
02/21
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16:39
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Casa Systems to acquire NetComm Wireless »

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  • 21

    Feb

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BIIB

Biogen

$320.99

-14.02 (-4.18%)

16:39
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Downgrade
Biogen rating change  »

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GMED

Globus Medical

$47.68

0.05 (0.10%)

16:38
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Earnings
Globus Medical reports Q4 EPS 43c, consensus 39c »

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  • 21

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CASA

Casa Systems

$11.96

-0.02 (-0.17%)

16:38
02/21/19
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Earnings
Casa Systems sees FY19 EPS 30c-40c, consensus 73c »

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  • 21

    Feb

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REGN

Regeneron

$418.66

-3.9 (-0.92%)

16:38
02/21/19
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Downgrade
Regeneron rating change  »

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MBIN

Merchants Bancorp

$21.92

-0.08 (-0.36%)

16:38
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Merchants Bancorp raises quarterly dividend 17% to 7c per share »

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