Lumen Technologies, Inc. (NYSE:LUMN) Receives Average Rating of “Reduce” from Analysts

Shares of Lumen Technologies, Inc. (NYSE:LUMNGet Free Report) have earned a consensus rating of “Reduce” from the eight ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $4.02.

LUMN has been the subject of several research reports. Citigroup raised 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. UBS Group boosted their target price on shares of Lumen Technologies from $1.50 to $5.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Moffett Nathanson upped their price target on shares of Lumen Technologies from $1.00 to $3.00 and gave the company a “sell” rating in a research report on Wednesday, August 7th. Bank of America boosted their target price on shares of Lumen Technologies from $1.00 to $2.00 and gave the company an “underperform” rating in a report on Thursday, August 8th. Finally, TD Cowen cut their target price on shares of Lumen Technologies from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Wednesday, November 6th.

Check Out Our Latest Analysis on Lumen Technologies

Lumen Technologies Stock Performance

NYSE LUMN opened at $7.88 on Friday. Lumen Technologies has a 1-year low of $0.97 and a 1-year high of $10.33. The firm has a market cap of $8.00 billion, a price-to-earnings ratio of -3.63 and a beta of 1.21. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 53.05. The company has a 50 day moving average of $7.11 and a 200-day moving average of $4.19.

Lumen Technologies (NYSE:LUMNGet Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.04). The firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.21 billion. Lumen Technologies had a negative net margin of 16.06% and a negative return on equity of 49.74%. The firm’s revenue for the quarter was down 11.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.09) EPS. On average, equities analysts forecast that Lumen Technologies will post -0.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director James Fowler bought 10,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was acquired at an average cost of $4.70 per share, with a total value of $47,000.00. Following the completion of the acquisition, the director now owns 384,056 shares of the company’s stock, valued at approximately $1,805,063.20. This represents a 2.67 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.68% of the company’s stock.

Institutional Trading of Lumen Technologies

Large investors have recently modified their holdings of the company. Virtu Financial LLC bought a new stake in shares of Lumen Technologies in the 3rd quarter worth about $473,000. Neo Ivy Capital Management bought a new position in shares of Lumen Technologies during the third quarter valued at approximately $570,000. Coldstream Capital Management Inc. bought a new position in Lumen Technologies in the third quarter worth approximately $125,000. Geode Capital Management LLC lifted its stake in shares of Lumen Technologies by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 23,344,313 shares of the technology company’s stock worth $165,776,000 after purchasing an additional 383,693 shares during the last quarter. Finally, Abel Hall LLC purchased a new stake in Lumen Technologies during the third quarter valued at approximately $151,000. Institutional investors own 66.19% of the company’s stock.

About Lumen Technologies

(Get Free Report

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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Analyst Recommendations for Lumen Technologies (NYSE:LUMN)

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