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

Lumen Technologies, Inc. (NYSE:LUMN) has earned an average rating of “Reduce” from the nine ratings firms that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $4.59.

Several analysts have commented on LUMN shares. Citigroup raised shares of Lumen Technologies from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $8.00 to $6.50 in a research report on Wednesday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $4.25 price objective on shares of Lumen Technologies in a report on Monday, February 10th. TD Cowen cut their target price on Lumen Technologies from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Wednesday, November 6th. The Goldman Sachs Group raised their price objective on Lumen Technologies from $4.50 to $5.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Finally, Wells Fargo & Company raised Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 target price for the company in a research report on Friday, February 21st.

Lumen Technologies Price Performance

Shares of NYSE:LUMN opened at $4.72 on Friday. The firm has a market cap of $4.78 billion, a price-to-earnings ratio of -94.28 and a beta of 1.28. 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 business has a fifty day simple moving average of $5.19 and a 200 day simple moving average of $6.16.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.14. Lumen Technologies had a negative return on equity of 46.17% and a negative net margin of 0.42%. As a group, sell-side analysts predict that Lumen Technologies will post -0.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Stephens Inc. AR grew its holdings in shares of Lumen Technologies by 7.7% in the 3rd quarter. Stephens Inc. AR now owns 27,070 shares of the technology company’s stock worth $192,000 after purchasing an additional 1,935 shares during the last quarter. Concord Wealth Partners boosted its position in Lumen Technologies by 98.8% in the third quarter. Concord Wealth Partners now owns 4,008 shares of the technology company’s stock valued at $28,000 after buying an additional 1,992 shares in the last quarter. US Bancorp DE grew its stake in Lumen Technologies by 18.6% during the third quarter. US Bancorp DE now owns 15,012 shares of the technology company’s stock worth $107,000 after buying an additional 2,350 shares during the last quarter. O Shaughnessy Asset Management LLC increased its holdings in shares of Lumen Technologies by 7.7% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 34,225 shares of the technology company’s stock worth $182,000 after buying an additional 2,457 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its stake in shares of Lumen Technologies by 20.3% in the fourth quarter. Los Angeles Capital Management LLC now owns 14,760 shares of the technology company’s stock valued at $78,000 after acquiring an additional 2,489 shares during the last quarter. 66.19% of the stock is currently 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.