Lumen Technologies, Inc. (NYSE:LUMN) Receives Average Rating of “Reduce” from Brokerages

Lumen Technologies, Inc. (NYSE:LUMN) has earned an average rating of “Reduce” from the eight analysts that are covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating and five have issued a hold rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $4.02.

Several research firms recently issued reports on LUMN. 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. 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. The Goldman Sachs Group upgraded Lumen Technologies from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $1.00 to $4.00 in a research note on Wednesday, August 7th. Citigroup upgraded Lumen Technologies from a “sell” rating to a “neutral” rating and increased their target price for the company from $1.25 to $3.15 in a research note on Tuesday, August 6th. Finally, Wells Fargo & Company downgraded Lumen Technologies from an “equal weight” rating to an “underweight” rating and lifted their price target for the stock from $1.75 to $4.00 in a research report on Friday, August 16th.

Insider Buying and Selling at Lumen Technologies

In other news, Director James Fowler acquired 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average price of $4.70 per share, with a total value of $47,000.00. Following the acquisition, the director now owns 384,056 shares of the company’s stock, valued at $1,805,063.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.68% of the company’s stock.

Institutional Trading of Lumen Technologies

Institutional investors have recently made changes to their positions in the business. Quadrature Capital Ltd acquired a new stake in Lumen Technologies in the 1st quarter valued at $468,000. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of Lumen Technologies by 22.4% during 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 period. Front Street Capital Management Inc. boosted its stake in shares of Lumen Technologies by 30.1% in the 2nd quarter. Front Street Capital Management Inc. now owns 11,661,112 shares of the technology company’s stock valued at $12,827,000 after purchasing an additional 2,697,423 shares in the last quarter. Palestra Capital Management LLC grew its holdings in shares of Lumen Technologies by 71.0% in the 4th quarter. Palestra Capital Management LLC now owns 11,167,585 shares of the technology company’s stock worth $20,437,000 after purchasing an additional 4,637,585 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System increased its position in shares of Lumen Technologies by 247.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 1,143,468 shares of the technology company’s stock worth $1,784,000 after purchasing an additional 814,474 shares in the last quarter. 66.19% of the stock is currently owned by institutional investors and hedge funds.

Lumen Technologies Price Performance

Shares of NYSE:LUMN opened at $6.72 on Thursday. The stock has a market capitalization of $6.82 billion, a P/E ratio of -0.61 and a beta of 1.18. The business has a 50-day moving average of $5.42 and a two-hundred day moving average of $2.74. Lumen Technologies has a fifty-two week low of $0.78 and a fifty-two week high of $7.83. The company has a debt-to-equity ratio of 39.51, a current ratio of 1.01 and a quick ratio of 1.01.

Lumen Technologies (NYSE:LUMN) last posted its earnings results on Tuesday, August 6th. The technology company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.07). Lumen Technologies had a negative return on equity of 18.52% and a negative net margin of 15.06%. The company had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.25 billion. During the same quarter last year, the firm posted $0.10 earnings per share. The firm’s revenue for the quarter was down 10.7% compared to the same quarter last year. On average, equities research analysts predict that Lumen Technologies will post -0.17 EPS for the current fiscal 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.