Alcatel Lucent Hits New 52-Week High at $3.62 (ALU)
Shares of Alcatel Lucent (NYSE:ALU) hit a new 52-week high during trading hours on Wednesday, American Banking and Market News reports. The company traded as high as $3.62 and last traded at $3.57, with a volume of 18,851,257 shares trading hands. The stock had previously closed at $3.39.
ALU has been the subject of a number of recent research reports. Analysts at BMO Capital Markets downgraded shares of Alcatel Lucent (NYSE:ALU) from an “outperform” rating to a “market perform” rating in a research note to investors on Friday, September 13th. Separately, analysts at MKM Partners raised their price target on shares of Alcatel Lucent (NYSE:ALU) from $2.60 to $3.75 in a research note to investors on Thursday, September 12th. They now have a “neutral” rating on the stock. Finally, analysts at Deutsche Bank reiterated a “sell” rating on shares of Alcatel Lucent (NYSE:ALU) in a research note to investors on Wednesday, September 11th.
Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $2.50.
Alcatel Lucent has a 52-week low of $0.91 and a 52-week high of $3.62. The stock’s 50-day moving average is $2.98 and its 200-day moving average is $2.00. The company’s market cap is $8.131 billion.
Alcatel Lucent (NYSE:ALU) last announced its earnings results on Tuesday, July 30th. The company reported ($0.38) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.10) by $0.28. The company had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $4.49 billion. During the same quarter in the previous year, the company posted ($0.12) earnings per share. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, analysts predict that Alcatel Lucent will post $-0.48 earnings per share for the current fiscal year.
Alcatel Lucent is engaged in mobile, fixed, Internet Protocol (NYSE:ALU) and optics technologies, applications and services.
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