Brokerages Set Lumen Technologies, Inc. (NYSE:LUMN) Price Target at $4.78

Shares of Lumen Technologies, Inc. (NYSE:LUMN) have earned an average recommendation of “Reduce” from the nine brokerages that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $4.59.

Several research firms have commented on LUMN. The Goldman Sachs Group increased their price objective on shares of Lumen Technologies from $4.50 to $5.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Royal Bank of Canada reissued a “sector perform” rating and set a $4.25 price objective on shares of Lumen Technologies in a report on Monday, February 10th. Citigroup raised shares of Lumen Technologies from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $8.00 to $6.50 in a report on Wednesday. TD Cowen dropped their price objective on shares of Lumen Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a report on Wednesday, November 6th. Finally, Wells Fargo & Company raised shares of Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 price objective for the company in a report on Friday, February 21st.

Institutional Trading of Lumen Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Concord Wealth Partners increased its holdings in Lumen Technologies by 98.8% during the third quarter. Concord Wealth Partners now owns 4,008 shares of the technology company’s stock valued at $28,000 after buying an additional 1,992 shares during the period. Legacy Investment Solutions LLC purchased a new position in shares of Lumen Technologies during the third quarter worth $30,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Lumen Technologies during the third quarter worth $36,000. Smartleaf Asset Management LLC raised its holdings in shares of Lumen Technologies by 173.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 6,745 shares of the technology company’s stock worth $36,000 after purchasing an additional 4,277 shares during the last quarter. Finally, Lazard Asset Management LLC increased its holdings in Lumen Technologies by 3,825.7% in the fourth quarter. Lazard Asset Management LLC now owns 7,498 shares of the technology company’s stock valued at $39,000 after buying an additional 7,307 shares in the last quarter. 66.19% of the stock is owned by hedge funds and other institutional investors.

Lumen Technologies Trading Down 4.8 %

NYSE:LUMN opened at $4.49 on Friday. The company has a debt-to-equity ratio of 37.70, a current ratio of 1.21 and a quick ratio of 1.20. The firm has a market capitalization of $4.55 billion, a price-to-earnings ratio of -89.68 and a beta of 1.28. Lumen Technologies has a one year low of $0.97 and a one year high of $10.33. The business has a fifty day moving average price of $5.22 and a 200-day moving average price of $6.15.

Lumen Technologies (NYSE:LUMN) last issued its earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.14. Lumen Technologies had a negative net margin of 0.42% and a negative return on equity of 46.17%. Sell-side analysts forecast that Lumen Technologies will post -0.87 EPS for the current 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.