Lumen Technologies, Inc. (NYSE:LUMN) Receives $4.09 Average Target Price from Analysts

Shares of Lumen Technologies, Inc. (NYSE:LUMN) have received a consensus rating of “Reduce” from the eight ratings firms that are covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $4.09.

A number of equities research analysts have commented on LUMN shares. The Goldman Sachs Group raised their target price on Lumen Technologies from $4.00 to $4.50 and gave the company a “neutral” rating in a report on Friday, October 4th. Bank of America boosted their price target on Lumen Technologies from $1.00 to $2.00 and gave the company an “underperform” rating in a report on Thursday, August 8th. Moffett Nathanson upped their price target on Lumen Technologies from $1.00 to $3.00 and gave the stock a “sell” rating in a research note on Wednesday, August 7th. Citigroup raised shares of Lumen Technologies from a “sell” rating to a “neutral” rating and raised their price target for the company from $1.25 to $3.15 in a report on Tuesday, August 6th. Finally, UBS Group lifted their price objective on Lumen Technologies from $1.50 to $5.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th.

Insider Buying and Selling at Lumen Technologies

In related news, Director James Fowler purchased 10,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average price of $4.70 per share, with a total value of $47,000.00. Following the completion of the acquisition, the director now directly owns 384,056 shares in the company, valued at approximately $1,805,063.20. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.68% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Quadrature Capital Ltd acquired a new position in Lumen Technologies during the 1st quarter worth approximately $468,000. Mackenzie Financial Corp boosted its stake in Lumen Technologies by 267.4% during the second quarter. Mackenzie Financial Corp now owns 236,390 shares of the technology company’s stock worth $260,000 after acquiring an additional 172,040 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in Lumen Technologies by 22.4% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,190,256 shares of the technology company’s stock worth $3,198,000 after acquiring an additional 401,399 shares in the last quarter. Algert Global LLC bought a new position in Lumen Technologies during the second quarter worth $112,000. Finally, Front Street Capital Management Inc. raised its holdings in Lumen Technologies by 30.1% during the second quarter. Front Street Capital Management Inc. now owns 11,661,112 shares of the technology company’s stock worth $12,827,000 after buying an additional 2,697,423 shares during the last quarter. 66.19% of the stock is currently owned by institutional investors.

Lumen Technologies Stock Performance

Shares of LUMN stock opened at $6.13 on Monday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 39.51. Lumen Technologies has a 12-month low of $0.78 and a 12-month high of $7.83. The company has a market capitalization of $6.22 billion, a P/E ratio of -0.56 and a beta of 1.19. The business’s 50 day moving average is $6.16 and its two-hundred day moving average is $3.22.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings data on Tuesday, August 6th. The technology company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.07). The company had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.25 billion. Lumen Technologies had a negative return on equity of 18.52% and a negative net margin of 15.06%. The business’s revenue for the quarter was down 10.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.10 EPS. Analysts expect that Lumen Technologies will post -0.18 EPS for the current fiscal year.

About Lumen Technologies

Lumen Technologies, Inc, a facilities-based technology and communications company, provides various integrated products and services to business and residential customers in the United States and internationally. The company operates in two segments, Business and Mass Markets. It offers dark fiber, edge cloud services, internet protocol, managed security, software-defined wide area networks, secure access service edge, unified communications and collaboration, and optical wavelengths services; ethernet and VPN data networks services; and legacy services to manage cash flow, including time division multiplexing voice, private line, and other legacy services, as well as sells communication equipment, and IT solutions.