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

Lumen Technologies, Inc. (NYSE:LUMN) has been given an average rating of “Reduce” by the nine research firms that are presently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation and six have assigned a hold recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $4.66.

Several brokerages have recently weighed in on LUMN. Citigroup lifted their target price on shares of Lumen Technologies from $6.50 to $8.00 and gave the company a “neutral” rating in a report on Friday, November 29th. Royal Bank of Canada reissued a “sector perform” rating and set a $4.25 target price (up from $4.00) on shares of Lumen Technologies in a research note on Friday, December 20th. TD Cowen dropped their price objective on Lumen Technologies from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Wednesday, November 6th. Finally, The Goldman Sachs Group raised their target price on Lumen Technologies from $4.50 to $5.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th.

Lumen Technologies Trading Down 1.8 %

Shares of Lumen Technologies stock opened at $5.42 on Friday. The company’s fifty day moving average is $6.92 and its two-hundred day moving average is $5.41. 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 53.05, a quick ratio of 1.20 and a current ratio of 1.20. The company has a market capitalization of $5.50 billion, a P/E ratio of -2.50 and a beta of 1.28.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings data on Tuesday, November 5th. The technology company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.04). Lumen Technologies had a negative return on equity of 49.74% and a negative net margin of 16.06%. The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.21 billion. During the same period in the previous year, the business posted ($0.09) earnings per share. The firm’s revenue was down 11.5% compared to the same quarter last year. Analysts forecast that Lumen Technologies will post -0.38 earnings per share for the current year.

Institutional Investors Weigh In On Lumen Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the business. Concord Wealth Partners increased its holdings in Lumen Technologies by 98.8% during the 3rd quarter. Concord Wealth Partners now owns 4,008 shares of the technology company’s stock valued at $28,000 after acquiring an additional 1,992 shares in the last quarter. Legacy Investment Solutions LLC acquired a new stake in shares of Lumen Technologies in the third quarter valued at approximately $30,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Lumen Technologies during the 3rd quarter worth approximately $36,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Lumen Technologies during the 3rd quarter worth approximately $46,000. Finally, GAMMA Investing LLC grew its holdings in Lumen Technologies by 1,901.8% during the 3rd quarter. GAMMA Investing LLC now owns 6,846 shares of the technology company’s stock valued at $49,000 after buying an additional 6,504 shares during the last quarter. 66.19% of the stock is currently owned by hedge funds and other 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.