Citigroup Increases Lumen Technologies (NYSE:LUMN) Price Target to $8.00

Lumen Technologies (NYSE:LUMN) had its price target upped by Citigroup from $6.50 to $8.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. Citigroup’s target price indicates a potential upside of 8.70% from the company’s previous close.

LUMN has been the topic of a number of other research reports. The Goldman Sachs Group increased their price objective on shares of Lumen Technologies from $4.50 to $5.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Bank of America raised their price objective on Lumen Technologies from $1.00 to $2.00 and gave the company an “underperform” rating in a research note on Thursday, August 8th. Moffett Nathanson upped their price objective on shares of Lumen Technologies from $1.00 to $3.00 and gave the stock a “sell” rating in a report on Wednesday, August 7th. TD Cowen lowered their price target 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. Finally, JPMorgan Chase & Co. raised shares of Lumen Technologies from an “underweight” rating to a “neutral” rating in a research report on Wednesday, August 7th. Three equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $4.71.

Lumen Technologies Trading Down 0.1 %

Shares of NYSE:LUMN traded down $0.01 during trading on Friday, reaching $7.36. The stock had a trading volume of 1,631,079 shares, compared to its average volume of 19,621,932. Lumen Technologies has a 52 week low of $0.97 and a 52 week high of $10.33. The firm’s fifty day moving average is $7.24 and its 200 day moving average is $4.40. The stock has a market cap of $7.47 billion, a price-to-earnings ratio of -3.39 and a beta of 1.21. 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 (NYSE:LUMN) last released its earnings results on Tuesday, November 5th. The technology company reported ($0.13) 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 business had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.21 billion. During the same period in the prior year, the business earned ($0.09) EPS. The company’s revenue for the quarter was down 11.5% on a year-over-year basis. As a group, equities analysts forecast that Lumen Technologies will post -0.38 EPS for the current fiscal year.

Insider Buying and Selling 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 purchased at an average price 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 acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.68% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Stephens Inc. AR boosted its holdings in shares of Lumen Technologies by 7.7% in the third quarter. Stephens Inc. AR now owns 27,070 shares of the technology company’s stock worth $192,000 after acquiring an additional 1,935 shares during the period. Concord Wealth Partners boosted its stake in Lumen Technologies by 98.8% in the 3rd quarter. Concord Wealth Partners now owns 4,008 shares of the technology company’s stock worth $28,000 after purchasing an additional 1,992 shares during the period. US Bancorp DE grew its holdings in Lumen Technologies by 18.6% during the 3rd quarter. US Bancorp DE now owns 15,012 shares of the technology company’s stock valued at $107,000 after buying an additional 2,350 shares in the last quarter. Xponance Inc. increased its position in shares of Lumen Technologies by 4.0% during the second quarter. Xponance Inc. now owns 64,444 shares of the technology company’s stock valued at $71,000 after buying an additional 2,487 shares during the period. Finally, Arkadios Wealth Advisors lifted its holdings in shares of Lumen Technologies by 23.6% in the third quarter. Arkadios Wealth Advisors now owns 13,367 shares of the technology company’s stock worth $95,000 after buying an additional 2,554 shares in the last quarter. 66.19% of the stock is owned by 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.