Lumen Technologies (NYSE:LUMN) Announces Earnings Results

Lumen Technologies (NYSE:LUMN) posted its quarterly earnings data on Tuesday. The technology company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.04), Briefing.com reports. Lumen Technologies had a negative net margin of 15.06% and a negative return on equity of 18.52%. The business had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.21 billion. During the same period in the previous year, the business posted ($0.09) EPS. The company’s revenue for the quarter was down 11.5% compared to the same quarter last year.

Lumen Technologies Stock Down 0.8 %

LUMN stock opened at $8.95 on Thursday. The stock has a market capitalization of $9.10 billion, a PE ratio of -4.29 and a beta of 1.21. The company has a fifty day moving average of $6.39 and a 200-day moving average of $3.64. The company has a debt-to-equity ratio of 39.51, a quick ratio of 1.01 and a current ratio of 1.01. Lumen Technologies has a one year low of $0.97 and a one year high of $9.20.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on LUMN. Wells Fargo & Company downgraded shares of Lumen Technologies from an “equal weight” rating to an “underweight” rating and lifted their price target for the stock from $1.75 to $4.00 in a research note on Friday, August 16th. The Goldman Sachs Group upped their target price on Lumen Technologies from $4.50 to $5.00 and gave the company a “neutral” rating in a research report on Wednesday. Moffett Nathanson boosted their price objective on Lumen Technologies from $1.00 to $3.00 and gave the company a “sell” rating in a research note on Wednesday, August 7th. TD Cowen lowered 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 report on Wednesday. Finally, UBS Group upped their price target on shares of Lumen Technologies from $1.50 to $5.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat, Lumen Technologies currently has an average rating of “Hold” and an average price target of $4.02.

Insider Transactions at Lumen Technologies

In other news, Director James Fowler acquired 10,000 shares of Lumen Technologies stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average price of $4.70 per share, for a total transaction of $47,000.00. Following the completion of the transaction, the director now directly owns 384,056 shares in the company, valued at approximately $1,805,063.20. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.68% of the company’s stock.

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.