Lumen Technologies’ (LUMN) Sector Perform Rating Reiterated at Royal Bank of Canada

Lumen Technologies (NYSE:LUMN)‘s stock had its “sector perform” rating reissued by research analysts at Royal Bank of Canada in a research note issued on Monday,Benzinga reports. They currently have a $4.25 target price on the technology company’s stock. Royal Bank of Canada’s price target points to a potential downside of 14.74% from the stock’s previous close.

Several other equities analysts have also recently commented on LUMN. Citigroup upped their price target on Lumen Technologies from $6.50 to $8.00 and gave the company a “neutral” rating in a report on Friday, November 29th. TD Cowen lowered their price objective on Lumen Technologies from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Wednesday, November 6th. Finally, The Goldman Sachs Group upped their price objective on Lumen Technologies from $4.50 to $5.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Three analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $4.66.

Lumen Technologies Stock Performance

Shares of NYSE LUMN traded down $0.01 during trading hours on Monday, hitting $4.99. 3,254,265 shares of the company’s stock were exchanged, compared to its average volume of 12,337,217. Lumen Technologies has a 1-year low of $0.97 and a 1-year high of $10.33. 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 stock has a market capitalization of $5.06 billion, a price-to-earnings ratio of -99.68 and a beta of 1.28. The company’s 50-day moving average price is $5.71 and its 200-day moving average price is $6.08.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings data 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 return on equity of 46.17% and a negative net margin of 0.42%. On average, sell-side analysts expect that Lumen Technologies will post -0.79 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Madison Investment Advisors LLC bought a new position in Lumen Technologies in the 4th quarter valued at $658,000. Vestcor Inc acquired a new position in shares of Lumen Technologies in the 4th quarter valued at $245,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Lumen Technologies by 23.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,029,938 shares of the technology company’s stock valued at $21,399,000 after purchasing an additional 764,523 shares during the period. Rakuten Securities Inc. lifted its stake in shares of Lumen Technologies by 506.7% in the 4th quarter. Rakuten Securities Inc. now owns 18,991 shares of the technology company’s stock valued at $101,000 after purchasing an additional 15,861 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its stake in shares of Lumen Technologies by 46.9% in the 4th quarter. Sequoia Financial Advisors LLC now owns 2,081,965 shares of the technology company’s stock valued at $11,055,000 after purchasing an additional 664,823 shares during the period. 66.19% of the stock is currently owned by institutional investors.

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.