Lumen Technologies (NYSE:LUMN) Issues Quarterly Earnings Results, Beats Estimates By $0.14 EPS

Lumen Technologies (NYSE:LUMN) issued its quarterly earnings results on Tuesday. The technology company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.14, Zacks reports. Lumen Technologies had a negative return on equity of 49.74% and a negative net margin of 16.06%.

Lumen Technologies Price Performance

LUMN traded up $0.16 on Tuesday, reaching $5.03. The company had a trading volume of 16,504,246 shares, compared to its average volume of 11,477,650. Lumen Technologies has a one year low of $0.97 and a one year high of $10.33. The company has a market capitalization of $5.10 billion, a P/E ratio of -2.32 and a beta of 1.28. The company has a fifty day moving average of $5.90 and a 200-day moving average of $5.98. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 53.05.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Citigroup upped their price target on Lumen Technologies from $6.50 to $8.00 and gave the stock a “neutral” rating in a research note on Friday, November 29th. The Goldman Sachs Group increased their target price 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. TD Cowen reduced their price target on shares of Lumen Technologies from $7.00 to $6.00 and set a “hold” rating on the stock in a research report on Wednesday, November 6th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $4.25 price objective (up previously from $4.00) on shares of Lumen Technologies in a research report on Friday, December 20th. Three research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $4.66.

About Lumen Technologies

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.