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

Shares of Lumen Technologies, Inc. (NYSE:LUMN) have received a consensus recommendation of “Reduce” from the eight brokerages that are covering the company, MarketBeat reports. Three investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $4.09.

Several research firms have recently commented on LUMN. 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 research report on Thursday, August 8th. Citigroup upgraded shares of Lumen Technologies from a “sell” rating to a “neutral” rating and increased their price target for the stock from $1.25 to $3.15 in a research report on Tuesday, August 6th. JPMorgan Chase & Co. raised shares of Lumen Technologies from an “underweight” rating to a “neutral” rating in a research report on Wednesday, August 7th. The Goldman Sachs Group raised their target price on Lumen Technologies from $4.00 to $4.50 and gave the stock a “neutral” rating in a report on Friday, October 4th. Finally, Wells Fargo & Company lowered Lumen Technologies from an “equal weight” rating to an “underweight” rating and boosted their price target for the company from $1.75 to $4.00 in a report on Friday, August 16th.

Lumen Technologies Stock Up 2.5 %

Shares of Lumen Technologies stock opened at $6.44 on Monday. 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 has a twelve month low of $0.78 and a twelve month high of $7.83. The company has a market cap of $6.54 billion, a price-to-earnings ratio of -0.59 and a beta of 1.19. The company’s 50 day moving average is $6.19 and its 200 day moving average is $3.32.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings results on Tuesday, August 6th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.07). The firm had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.25 billion. Lumen Technologies had a negative return on equity of 18.52% and a negative net margin of 15.06%. The business’s quarterly revenue was down 10.7% on a year-over-year basis. During the same quarter last year, the business earned $0.10 earnings per share. Research analysts anticipate that Lumen Technologies will post -0.18 EPS for the current year.

Insider Activity

In other Lumen Technologies news, Director James Fowler bought 10,000 shares of the firm’s stock in a transaction that occurred on 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 purchase, the director now owns 384,056 shares of the company’s stock, valued at $1,805,063.20. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.68% of the company’s stock.

Institutional Trading of Lumen Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sawgrass Asset Management LLC grew its position in shares of Lumen Technologies by 68.5% during the second quarter. Sawgrass Asset Management LLC now owns 22,786 shares of the technology company’s stock valued at $25,000 after purchasing an additional 9,263 shares in the last quarter. Sanctuary Advisors LLC bought a new position in Lumen Technologies during the second quarter valued at approximately $25,000. ANTIPODES PARTNERS Ltd purchased a new position in Lumen Technologies during the 2nd quarter valued at approximately $26,000. HighPoint Advisor Group LLC bought a new stake in Lumen Technologies in the 4th quarter worth approximately $27,000. Finally, Concord Wealth Partners raised its holdings in shares of Lumen Technologies by 98.8% during the 3rd quarter. Concord Wealth Partners now owns 4,008 shares of the technology company’s stock worth $28,000 after acquiring an additional 1,992 shares in the last quarter. 66.19% of the stock is currently 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.