Lumen Technologies, Inc. (NYSE:LUMN) Given Consensus Rating of “Reduce” by Brokerages

Shares of Lumen Technologies, Inc. (NYSE:LUMN) have earned an average recommendation of “Reduce” from the eight ratings firms that are covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $4.02.

A number of research analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised shares of Lumen Technologies from an “underweight” rating to a “neutral” rating in a research note on Wednesday, August 7th. UBS Group boosted their price target on Lumen Technologies from $1.50 to $5.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Wells Fargo & Company lowered Lumen Technologies from an “equal weight” rating to an “underweight” rating and increased their price objective for the company from $1.75 to $4.00 in a research note on Friday, August 16th. The Goldman Sachs Group upgraded shares of Lumen Technologies from a “sell” rating to a “neutral” rating and upped their target price for the company from $1.00 to $4.00 in a report on Wednesday, August 7th. Finally, Citigroup upgraded shares of Lumen Technologies from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $1.25 to $3.15 in a report on Tuesday, August 6th.

Insider Buying and Selling

In related news, Director James Fowler purchased 10,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were bought at an average price of $4.70 per share, for a total transaction of $47,000.00. Following the acquisition, the director now directly owns 384,056 shares in the company, valued at $1,805,063.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.68% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in LUMN. Sawgrass Asset Management LLC increased its stake in Lumen Technologies by 68.5% during the second quarter. Sawgrass Asset Management LLC now owns 22,786 shares of the technology company’s stock worth $25,000 after acquiring an additional 9,263 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in Lumen Technologies during the 2nd quarter worth approximately $25,000. ANTIPODES PARTNERS Ltd purchased a new position in Lumen Technologies in the second quarter valued at approximately $26,000. Brighton Jones LLC acquired a new position in Lumen Technologies during the fourth quarter valued at approximately $27,000. Finally, HighPoint Advisor Group LLC purchased a new stake in Lumen Technologies during the fourth quarter worth approximately $27,000. 66.19% of the stock is owned by hedge funds and other institutional investors.

Lumen Technologies Stock Up 6.2 %

LUMN opened at $5.84 on Friday. The company has a debt-to-equity ratio of 39.51, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $5.93 billion, a price-to-earnings ratio of -0.53 and a beta of 1.14. Lumen Technologies has a one year low of $0.78 and a one year high of $7.83. The business’s fifty day moving average is $3.51 and its two-hundred day moving average is $2.12.

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