TD Cowen Issues Pessimistic Forecast for Lumen Technologies (NYSE:LUMN) Stock Price

Lumen Technologies (NYSE:LUMN) had its target price trimmed by TD Cowen from $7.00 to $6.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a hold rating on the technology company’s stock.

A number of other equities analysts also recently weighed in on LUMN. Citigroup raised shares of Lumen Technologies from a “sell” rating to a “neutral” rating and raised their target price for the company from $1.25 to $3.15 in a research note on Tuesday, August 6th. Wells Fargo & Company lowered Lumen Technologies from an “equal weight” rating to an “underweight” rating and raised their price objective for the company from $1.75 to $4.00 in a research report on Friday, August 16th. JPMorgan Chase & Co. raised Lumen Technologies from an “underweight” rating to a “neutral” rating in a research note on Wednesday, August 7th. The Goldman Sachs Group lifted their price target on Lumen Technologies from $4.50 to $5.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Bank of America increased their price objective on shares of Lumen Technologies from $1.00 to $2.00 and gave the company an “underperform” rating in a research report on Thursday, August 8th. Three analysts have rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $4.02.

Lumen Technologies Trading Up 4.3 %

NYSE LUMN opened at $9.59 on Wednesday. The firm has a market capitalization of $9.75 billion, a PE ratio of -4.56 and a beta of 1.21. The stock’s 50 day moving average is $6.56 and its 200 day moving average is $3.73. Lumen Technologies has a twelve month low of $0.97 and a twelve month high of $9.84. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 39.51.

Lumen Technologies (NYSE:LUMN) last announced its earnings results on Tuesday, November 5th. The technology company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.04). The business had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.21 billion. Lumen Technologies had a negative net margin of 15.06% and a negative return on equity of 18.52%. The business’s quarterly revenue was down 11.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.09) EPS. Research analysts forecast that Lumen Technologies will post -0.59 earnings per share for the current fiscal year.

Insider Transactions at Lumen Technologies

In other news, Director James Fowler purchased 10,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average cost of $4.70 per share, with a total value of $47,000.00. Following the acquisition, the director now directly owns 384,056 shares of the company’s stock, valued at $1,805,063.20. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.68% of the company’s stock.

Hedge Funds Weigh In On Lumen Technologies

Institutional investors have recently made changes to their positions in the business. Stephens Inc. AR raised its holdings in Lumen Technologies by 7.7% in the 3rd quarter. Stephens Inc. AR now owns 27,070 shares of the technology company’s stock worth $192,000 after purchasing an additional 1,935 shares during the period. Concord Wealth Partners raised its stake in shares of Lumen Technologies by 98.8% in the third quarter. Concord Wealth Partners now owns 4,008 shares of the technology company’s stock worth $28,000 after buying an additional 1,992 shares during the period. US Bancorp DE lifted its position in shares of 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. grew its stake in shares of Lumen Technologies by 4.0% during the 2nd quarter. Xponance Inc. now owns 64,444 shares of the technology company’s stock valued at $71,000 after acquiring an additional 2,487 shares during the period. Finally, Arkadios Wealth Advisors raised its stake in Lumen Technologies by 23.6% during the 3rd quarter. Arkadios Wealth Advisors now owns 13,367 shares of the technology company’s stock worth $95,000 after acquiring an additional 2,554 shares during the period. Institutional investors own 66.19% of the company’s stock.

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.