Shares of Lumen Technologies, Inc. (NYSE:LUMN – Get Free Report) 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.
Get Our Latest Research Report on Lumen Technologies
Insider Buying and Selling at Lumen Technologies
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 – Get Free Report) 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.
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