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

Lumen Technologies, Inc. (NYSE:LUMN) has earned a consensus rating of “Reduce” from the nine analysts that are currently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a sell rating and six have given a hold rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $4.66.

A number of equities analysts have issued reports on the stock. Citigroup lifted their target price on shares of Lumen Technologies from $6.50 to $8.00 and gave the stock a “neutral” rating in a research report on Friday, November 29th. TD Cowen lowered their target price 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. The Goldman Sachs Group boosted their target price 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. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $4.25 target price (up from $4.00) on shares of Lumen Technologies in a report on Friday, December 20th.

Institutional Investors Weigh In On Lumen Technologies

Several institutional investors have recently bought and sold shares of LUMN. Mercer Global Advisors Inc. ADV lifted its position in shares of Lumen Technologies by 88.9% during the second quarter. Mercer Global Advisors Inc. ADV now owns 107,081 shares of the technology company’s stock worth $118,000 after purchasing an additional 50,381 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Lumen Technologies during the second quarter worth $74,000. Xponance Inc. lifted its position in shares of Lumen Technologies by 4.0% during the second quarter. Xponance Inc. now owns 64,444 shares of the technology company’s stock worth $71,000 after purchasing an additional 2,487 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Lumen Technologies during the second quarter worth $54,000. Finally, Squarepoint Ops LLC lifted its position in shares of Lumen Technologies by 364.0% during the second quarter. Squarepoint Ops LLC now owns 766,281 shares of the technology company’s stock worth $843,000 after purchasing an additional 1,056,551 shares in the last quarter. 66.19% of the stock is currently owned by hedge funds and other institutional investors.

Lumen Technologies Stock Down 1.5 %

Shares of NYSE:LUMN opened at $4.93 on Wednesday. The stock has a market cap of $5.00 billion, a P/E ratio of -2.27 and a beta of 1.28. The firm has a fifty day moving average price of $5.96 and a 200 day moving average price of $5.95. The company has a debt-to-equity ratio of 53.05, a current ratio of 1.20 and a quick ratio of 1.20. Lumen Technologies has a 1-year low of $0.97 and a 1-year high of $10.33.

Lumen Technologies (NYSE:LUMN) last issued its earnings results on Tuesday, November 5th. The technology company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.04). The firm had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.21 billion. Lumen Technologies had a negative net margin of 16.06% and a negative return on equity of 49.74%. The firm’s revenue was down 11.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.09) EPS. Sell-side analysts predict that Lumen Technologies will post -0.38 EPS for the current year.

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.