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

Shares of Lumen Technologies, Inc. (NYSE:LUMN) have been given an average rating of “Reduce” by the eight research firms that are covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $4.02.

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company cut shares of Lumen Technologies from an “equal weight” rating to an “underweight” rating and increased their target price for the company from $1.75 to $4.00 in a research report on Friday, August 16th. Citigroup raised shares of Lumen Technologies from a “sell” rating to a “neutral” rating and raised their target price for the stock from $1.25 to $3.15 in a research note on Tuesday, August 6th. JPMorgan Chase & Co. upgraded Lumen Technologies from an “underweight” rating to a “neutral” rating in a research report on Wednesday, August 7th. UBS Group boosted their price objective on Lumen Technologies from $1.50 to $5.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Finally, Bank of America raised their target price on Lumen Technologies from $1.00 to $2.00 and gave the stock an “underperform” rating in a research note on Thursday, August 8th.

Insiders Place Their Bets

In other Lumen Technologies news, Director James Fowler purchased 10,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were bought at an average cost of $4.70 per share, for a total transaction of $47,000.00. Following the completion of the purchase, the director now directly owns 384,056 shares of the company’s stock, valued at approximately $1,805,063.20. This trade 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 is available at this hyperlink. 1.68% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Sawgrass Asset Management LLC grew its holdings in Lumen Technologies by 68.5% during the 2nd 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 in the last quarter. Sanctuary Advisors LLC purchased a new position in Lumen Technologies in the second quarter valued at $25,000. ANTIPODES PARTNERS Ltd acquired a new stake in Lumen Technologies in the second quarter valued at $26,000. Concord Wealth Partners lifted its holdings in Lumen Technologies by 98.8% during the 3rd quarter. Concord Wealth Partners now owns 4,008 shares of the technology company’s stock worth $28,000 after buying an additional 1,992 shares during the last quarter. Finally, Legacy Investment Solutions LLC acquired a new position in shares of Lumen Technologies during the 3rd quarter worth about $30,000. 66.19% of the stock is currently owned by hedge funds and other institutional investors.

Lumen Technologies Stock Performance

LUMN opened at $7.75 on Friday. The firm’s fifty day simple moving average is $7.03 and its two-hundred day simple moving average is $4.14. Lumen Technologies has a 52-week low of $0.97 and a 52-week high of $10.33. The company has a market cap of $7.86 billion, a price-to-earnings ratio of -3.57 and a beta of 1.21. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 53.05.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings data on Tuesday, November 5th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.04). Lumen Technologies had a negative return on equity of 49.74% and a negative net margin of 16.06%. The firm had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.21 billion. During the same quarter in the previous year, the firm posted ($0.09) earnings per share. The company’s quarterly revenue was down 11.5% on a year-over-year basis. Equities analysts anticipate that Lumen Technologies will post -0.38 earnings per share 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.