Lumen Technologies, Inc. (NYSE:LUMN – Get Free Report) was up 28.8% during trading on Wednesday after Moffett Nathanson raised their price target on the stock from $1.00 to $3.00. Moffett Nathanson currently has a sell rating on the stock. Lumen Technologies traded as high as $7.83 and last traded at $6.44. Approximately 143,615,464 shares changed hands during trading, an increase of 718% from the average daily volume of 17,558,059 shares. The stock had previously closed at $5.00.
LUMN has been the topic of several other reports. JPMorgan Chase & Co. raised shares of Lumen Technologies from an “underweight” rating to a “neutral” rating in a report on Wednesday. The Goldman Sachs Group raised shares of Lumen Technologies from a “sell” rating to a “neutral” rating and increased their price target for the stock from $1.00 to $4.00 in a report on Wednesday. Finally, Citigroup raised shares of Lumen Technologies from a “sell” rating to a “neutral” rating and increased their price target for the stock from $1.25 to $3.15 in a report on Tuesday. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat.com, Lumen Technologies has an average rating of “Hold” and an average price target of $2.62.
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Lumen Technologies Price Performance
The business’s 50 day moving average is $1.48 and its two-hundred day moving average is $1.45. The firm has a market capitalization of $6.54 billion, a PE ratio of -0.59 and a beta of 1.14. The company has a debt-to-equity ratio of 36.89, a current ratio of 1.03 and a quick ratio of 1.03.
Lumen Technologies (NYSE:LUMN – Get Free Report) last announced its earnings results on Tuesday, August 6th. The technology company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.04). The company had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.25 billion. Lumen Technologies had a negative net margin of 76.21% and a positive return on equity of 4.06%. The company’s revenue for the quarter was down 10.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.10 earnings per share. As a group, research analysts anticipate that Lumen Technologies, Inc. will post -0.23 EPS for the current year.
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.
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