Brokerages Set Lumen Technologies, Inc. (NYSE:LUMN) Target Price at $4.66

Lumen Technologies, Inc. (NYSE:LUMN) has been assigned a consensus rating of “Reduce” from the nine research firms that are presently covering the firm, MarketBeat reports. Three analysts have rated the stock with a sell rating and six have issued a hold rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $4.66.

Several research analysts have recently weighed in on LUMN shares. TD Cowen reduced their price objective on Lumen Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Wednesday, November 6th. The Goldman Sachs Group upped their price target on Lumen Technologies from $4.50 to $5.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $4.25 price objective (up from $4.00) on shares of Lumen Technologies in a report on Friday, December 20th. Finally, Citigroup increased their target price on shares of Lumen Technologies from $6.50 to $8.00 and gave the stock a “neutral” rating in a report on Friday, November 29th.

Lumen Technologies Stock Performance

Shares of LUMN stock opened at $5.52 on Friday. The company has a debt-to-equity ratio of 53.05, a quick ratio of 1.20 and a current ratio of 1.20. Lumen Technologies has a 52 week low of $0.97 and a 52 week high of $10.33. The company’s 50 day moving average price is $6.94 and its two-hundred day moving average price is $5.41. The company has a market capitalization of $5.60 billion, a P/E ratio of -2.54 and a beta of 1.28.

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

Hedge Funds Weigh In On Lumen Technologies

A number of institutional investors have recently added to or reduced their stakes in LUMN. Sanctuary Advisors LLC acquired a new stake in shares of Lumen Technologies in the second quarter valued at approximately $25,000. ANTIPODES PARTNERS Ltd acquired a new position in shares of Lumen Technologies in the second quarter valued at $26,000. Concord Wealth Partners raised its position in shares of 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 purchasing an additional 1,992 shares during the period. Legacy Investment Solutions LLC acquired a new stake in shares of Lumen Technologies during the 3rd quarter worth about $30,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Lumen Technologies in the 3rd quarter valued at about $36,000. 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.