Lumen Technologies’ (LUMN) Sector Perform Rating Reiterated at Royal Bank of Canada

Lumen Technologies (NYSE:LUMN)‘s stock had its “sector perform” rating reiterated by research analysts at Royal Bank of Canada in a research report issued on Monday,Benzinga reports. They currently have a $4.25 price objective on the technology company’s stock. Royal Bank of Canada’s target price points to a potential downside of 14.74% from the company’s previous close.

A number of other equities research analysts have also weighed in on the company. TD Cowen dropped their price target on Lumen Technologies from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Wednesday, November 6th. The Goldman Sachs Group upped their price objective on Lumen Technologies from $4.50 to $5.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Finally, Citigroup upped their target price on Lumen Technologies from $6.50 to $8.00 and gave the stock a “neutral” rating in a research note on Friday, November 29th. Three equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat, Lumen Technologies presently has an average rating of “Hold” and a consensus price target of $4.66.

Lumen Technologies Price Performance

Shares of LUMN stock traded down $0.01 on Monday, reaching $4.99. The company’s stock had a trading volume of 3,254,265 shares, compared to its average volume of 12,337,217. The stock’s fifty day simple moving average is $5.71 and its 200-day simple moving average is $6.08. Lumen Technologies has a 1 year low of $0.97 and a 1 year high of $10.33. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 37.70. The company has a market capitalization of $5.06 billion, a price-to-earnings ratio of -99.68 and a beta of 1.28.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.09 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.14. Lumen Technologies had a negative net margin of 0.42% and a negative return on equity of 46.17%. Analysts forecast that Lumen Technologies will post -0.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lumen Technologies

Large investors have recently modified their holdings of the company. Madison Investment Advisors LLC purchased a new position in Lumen Technologies in the fourth quarter worth $658,000. Vestcor Inc purchased a new position in Lumen Technologies in the fourth quarter worth $245,000. Connor Clark & Lunn Investment Management Ltd. raised its position in Lumen Technologies by 23.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,029,938 shares of the technology company’s stock worth $21,399,000 after acquiring an additional 764,523 shares in the last quarter. Rakuten Securities Inc. raised its position in Lumen Technologies by 506.7% in the fourth quarter. Rakuten Securities Inc. now owns 18,991 shares of the technology company’s stock worth $101,000 after acquiring an additional 15,861 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its position in Lumen Technologies by 46.9% in the fourth quarter. Sequoia Financial Advisors LLC now owns 2,081,965 shares of the technology company’s stock worth $11,055,000 after acquiring an additional 664,823 shares in the last quarter. 66.19% of the stock is owned by institutional investors and hedge funds.

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.