Lumen Technologies, Inc. (NYSE:LUMN) Receives $4.59 Consensus Target Price from Brokerages

Shares of Lumen Technologies, Inc. (NYSE:LUMN) have earned a consensus rating of “Reduce” from the nine research firms that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $4.59.

A number of equities analysts have issued reports on LUMN shares. Wells Fargo & Company upgraded Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 price target for the company in a research note on Friday, February 21st. Citigroup raised Lumen Technologies from a “neutral” rating to a “buy” rating and cut their target price for the company from $8.00 to $6.50 in a research report on Wednesday, February 26th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $4.25 price target on shares of Lumen Technologies in a report on Monday, February 10th.

Institutional Trading of Lumen Technologies

Hedge funds have recently bought and sold shares of the business. Norges Bank bought a new position in Lumen Technologies in the 4th quarter valued at $63,638,000. Hennessy Advisors Inc. bought a new position in Lumen Technologies during the fourth quarter valued at about $45,089,000. Dimensional Fund Advisors LP raised its position in Lumen Technologies by 368.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,812,495 shares of the technology company’s stock worth $52,111,000 after acquiring an additional 7,717,596 shares during the period. Renaissance Technologies LLC boosted its stake in Lumen Technologies by 76.3% in the fourth quarter. Renaissance Technologies LLC now owns 11,664,009 shares of the technology company’s stock valued at $61,936,000 after acquiring an additional 5,049,709 shares during the last quarter. Finally, Millennium Management LLC grew its position in shares of Lumen Technologies by 474.8% during the 4th quarter. Millennium Management LLC now owns 5,744,368 shares of the technology company’s stock valued at $30,503,000 after acquiring an additional 4,745,040 shares during the period. 66.19% of the stock is currently owned by institutional investors.

Lumen Technologies Price Performance

Shares of NYSE:LUMN opened at $4.86 on Thursday. Lumen Technologies has a twelve month low of $0.97 and a twelve month high of $10.33. The stock’s 50 day moving average is $5.00 and its 200-day moving average is $6.08. The company has a quick ratio of 1.20, a current ratio of 1.21 and a debt-to-equity ratio of 37.70. The firm has a market capitalization of $4.92 billion, a price-to-earnings ratio of -97.10 and a beta of 1.28.

Lumen Technologies (NYSE:LUMN) last released 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 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 fiscal 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.