Lumen Technologies, Inc. (NYSE:LUMN) Receives Consensus Recommendation of “Reduce” from Brokerages

Lumen Technologies, Inc. (NYSE:LUMN) has been assigned a consensus rating of “Reduce” from the nine brokerages that are currently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $4.66.

Several equities research analysts have recently issued reports on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $4.25 price target (up previously from $4.00) on shares of Lumen Technologies in a research note on Friday, December 20th. TD Cowen decreased their price target on shares of Lumen Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Wednesday, November 6th. Citigroup raised their price target on shares of Lumen Technologies from $6.50 to $8.00 and gave the stock a “neutral” rating in a research note on Friday, November 29th. Finally, The Goldman Sachs Group raised their price target on shares of Lumen Technologies from $4.50 to $5.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of LUMN. Polianta Ltd bought a new position in Lumen Technologies in the 4th quarter valued at $692,000. Crossmark Global Holdings Inc. purchased a new position in Lumen Technologies in the third quarter worth $433,000. Mariner Investment Group LLC purchased a new position in Lumen Technologies in the fourth quarter worth $531,000. Quantbot Technologies LP purchased a new position in Lumen Technologies in the third quarter worth $733,000. Finally, Congress Asset Management Co. purchased a new position in Lumen Technologies in the third quarter worth $2,592,000. 66.19% of the stock is owned by institutional investors.

Lumen Technologies Trading Up 2.3 %

LUMN opened at $5.09 on Wednesday. The company has a debt-to-equity ratio of 53.05, a current ratio of 1.20 and a quick ratio of 1.20. Lumen Technologies has a fifty-two week low of $0.97 and a fifty-two week high of $10.33. The firm has a market capitalization of $5.16 billion, a PE ratio of -2.34 and a beta of 1.28. The company’s 50-day moving average is $6.13 and its 200 day moving average is $5.87.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings data on Tuesday, November 5th. The technology company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.04). The firm had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.21 billion. Lumen Technologies had a negative net margin of 16.06% and a negative return on equity of 49.74%. The company’s quarterly revenue was down 11.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.09) EPS. As a group, research analysts predict that Lumen Technologies will post -0.38 earnings per share 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.