Lumen Technologies (NYSE:LUMN) Posts Earnings Results, Beats Expectations By $0.07 EPS

Lumen Technologies (NYSE:LUMN) posted its quarterly earnings data on Tuesday. The technology company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.07, 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 last year, the firm posted ($0.09) earnings per share. The business’s revenue was down 11.5% on a year-over-year basis.

Lumen Technologies Trading Up 20.5 %

Shares of LUMN traded up $1.56 during midday trading on Wednesday, hitting $9.17. The stock had a trading volume of 37,691,887 shares, compared to its average volume of 19,903,521. Lumen Technologies has a fifty-two week low of $0.97 and a fifty-two week high of $9.20. The business has a 50-day simple moving average of $6.32 and a two-hundred day simple moving average of $3.60. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 39.51. The firm has a market cap of $9.32 billion, a P/E ratio of -4.19 and a beta of 1.21.

Insider Activity at Lumen Technologies

In other Lumen Technologies news, Director James Fowler bought 10,000 shares of Lumen Technologies stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average price of $4.70 per share, for a total transaction of $47,000.00. Following the completion of the acquisition, the director now directly owns 384,056 shares of the company’s stock, valued at approximately $1,805,063.20. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.68% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Citigroup raised Lumen Technologies from a “sell” rating to a “neutral” rating and increased their price target for the company from $1.25 to $3.15 in a research note on Tuesday, August 6th. Moffett Nathanson raised their target price on Lumen Technologies from $1.00 to $3.00 and gave the company a “sell” rating in a research note on Wednesday, August 7th. Bank of America upped their price target on shares of Lumen Technologies from $1.00 to $2.00 and gave the company an “underperform” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. upgraded shares of Lumen Technologies from an “underweight” rating to a “neutral” rating in a research report on Wednesday, August 7th. Finally, UBS Group increased their target price on shares of Lumen Technologies from $1.50 to $5.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Three analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $4.02.

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.