The Goldman Sachs Group Raises Lumen Technologies (NYSE:LUMN) Price Target to $4.50

Lumen Technologies (NYSE:LUMN) had its price target lifted by The Goldman Sachs Group from $4.00 to $4.50 in a research report released on Friday, Benzinga reports. The brokerage currently has a neutral rating on the technology company’s stock.

A number of other research analysts also recently weighed in on LUMN. Wells Fargo & Company downgraded shares of Lumen Technologies from an equal weight rating to an underweight rating and raised their target price for the company from $1.75 to $4.00 in a research report on Friday, August 16th. Citigroup raised Lumen Technologies from a sell rating to a neutral rating and lifted their target price for the company from $1.25 to $3.15 in a research report on Tuesday, August 6th. UBS Group increased their price target on Lumen Technologies from $1.50 to $5.00 and gave the company a neutral rating in a research report on Wednesday, August 7th. TD Cowen boosted their price target on Lumen Technologies from $2.50 to $7.00 and gave the stock a hold rating in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. raised Lumen Technologies from an underweight rating to a neutral rating in a report on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat, the company currently has an average rating of Hold and an average price target of $4.09.

Lumen Technologies Stock Up 1.5 %

LUMN traded up $0.10 during trading on Friday, hitting $6.78. The company had a trading volume of 7,948,521 shares, compared to its average volume of 20,352,355. The firm’s 50-day moving average price is $5.62 and its 200 day moving average price is $2.80. The company has a market capitalization of $6.88 billion, a PE ratio of -0.62 and a beta of 1.19. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 39.51. Lumen Technologies has a one year low of $0.78 and a one year high of $7.83.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings data on Tuesday, August 6th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.07). The firm had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.25 billion. Lumen Technologies had a negative return on equity of 18.52% and a negative net margin of 15.06%. The firm’s quarterly revenue was down 10.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.10 earnings per share. As a group, equities analysts expect that Lumen Technologies will post -0.17 earnings per share for the current year.

Insider Buying and Selling at Lumen Technologies

In related news, Director James Fowler bought 10,000 shares of Lumen Technologies 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 acquisition, the director now owns 384,056 shares of the company’s stock, valued at approximately $1,805,063.20. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.68% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Xponance Inc. raised its holdings in Lumen Technologies by 4.0% in the 2nd quarter. Xponance Inc. now owns 64,444 shares of the technology company’s stock valued at $71,000 after acquiring an additional 2,487 shares in the last quarter. Arizona State Retirement System raised its stake in Lumen Technologies by 2.0% in the second quarter. Arizona State Retirement System now owns 282,687 shares of the technology company’s stock valued at $311,000 after purchasing an additional 5,418 shares in the last quarter. Texas Permanent School Fund Corp grew its stake in Lumen Technologies by 0.9% during the second quarter. Texas Permanent School Fund Corp now owns 888,228 shares of the technology company’s stock worth $977,000 after buying an additional 7,922 shares in the last quarter. Sawgrass Asset Management LLC increased its holdings in Lumen Technologies by 68.5% in the 2nd quarter. Sawgrass Asset Management LLC now owns 22,786 shares of the technology company’s stock valued at $25,000 after buying an additional 9,263 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in shares of Lumen Technologies by 2.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 509,861 shares of the technology company’s stock valued at $561,000 after buying an additional 9,922 shares in the last quarter. 66.19% of the stock is owned by institutional investors and hedge funds.

Lumen Technologies Company Profile

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.