Lumen Technologies (NYSE:LUMN) Price Target Raised to $5.00

Lumen Technologies (NYSE:LUMN) had its price target boosted by research analysts at UBS Group from $1.50 to $5.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the technology company’s stock. UBS Group’s price objective indicates a potential downside of 10.55% from the company’s current price.

Several other research firms also recently weighed in on LUMN. The Goldman Sachs Group raised shares of Lumen Technologies from a “sell” rating to a “neutral” rating and lifted their price target for the company from $1.00 to $4.00 in a research note on Wednesday. Citigroup raised shares of Lumen Technologies from a “sell” rating to a “neutral” rating and lifted their price target for the company from $1.25 to $3.15 in a research note on Tuesday. Moffett Nathanson lifted their price target on shares of Lumen Technologies from $1.00 to $3.00 and gave the company a “sell” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. raised shares of Lumen Technologies from an “underweight” rating to a “neutral” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $3.53.

Lumen Technologies Trading Up 3.9 %

Shares of NYSE:LUMN traded up $0.21 during mid-day trading on Wednesday, reaching $5.59. 43,014,168 shares of the company’s stock were exchanged, compared to its average volume of 19,293,055. The firm has a market capitalization of $5.67 billion, a price-to-earnings ratio of -0.52 and a beta of 1.14. The business’s fifty day moving average price is $1.67 and its 200-day moving average price is $1.52. The company has a debt-to-equity ratio of 36.89, a quick ratio of 1.03 and a current ratio of 1.03. Lumen Technologies has a twelve month low of $0.78 and a twelve month high of $7.83.

Lumen Technologies (NYSE:LUMN) 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 ($0.06) by ($0.07). Lumen Technologies had a positive return on equity of 4.06% and a negative net margin of 76.21%. The firm had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.25 billion. During the same period in the prior year, the business earned $0.10 EPS. Lumen Technologies’s quarterly revenue was down 10.7% on a year-over-year basis. On average, research analysts predict that Lumen Technologies will post -0.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quadrature Capital Ltd purchased a new position in Lumen Technologies in the first quarter valued at about $468,000. Mitsubishi UFJ Trust & Banking Corp boosted its stake in Lumen Technologies by 22.4% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,190,256 shares of the technology company’s stock valued at $3,198,000 after acquiring an additional 401,399 shares during the last quarter. Federated Hermes Inc. boosted its stake in Lumen Technologies by 798.6% in the fourth quarter. Federated Hermes Inc. now owns 1,438,386 shares of the technology company’s stock valued at $2,632,000 after acquiring an additional 1,278,319 shares during the last quarter. Palestra Capital Management LLC boosted its stake in Lumen Technologies by 71.0% in the fourth quarter. Palestra Capital Management LLC now owns 11,167,585 shares of the technology company’s stock valued at $20,437,000 after acquiring an additional 4,637,585 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its stake in Lumen Technologies by 247.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 1,143,468 shares of the technology company’s stock valued at $1,784,000 after acquiring an additional 814,474 shares during the last quarter. 66.19% of the stock is currently owned by hedge funds and other institutional investors.

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.