Lumos Networks Corp. (LMOS) Expected to Announce Quarterly Sales of $55.33 Million
Brokerages expect that Lumos Networks Corp. (NASDAQ:LMOS) will post $55.33 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Lumos Networks Corp.’s earnings. The highest sales estimate is $55.86 million and the lowest is $54.80 million. Lumos Networks Corp. posted sales of $52.45 million during the same quarter last year, which suggests a positive year over year growth rate of 5.5%. The company is expected to issue its next earnings results before the market opens on Monday, August 7th.
According to Zacks, analysts expect that Lumos Networks Corp. will report full-year sales of $55.33 million for the current fiscal year, with estimates ranging from $219.30 million to $222.15 million. For the next year, analysts anticipate that the firm will report sales of $224.13 million per share, with estimates ranging from $220.70 million to $227.55 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Lumos Networks Corp..
Lumos Networks Corp. (NASDAQ:LMOS) last released its quarterly earnings data on Monday, May 8th. The utilities provider reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of $0.14 by $0.38. The firm had revenue of $54.92 million for the quarter, compared to analyst estimates of $53.06 million. Lumos Networks Corp. had a negative return on equity of 2.29% and a negative net margin of 1.39%.
A number of equities research analysts have issued reports on the stock. BidaskClub downgraded shares of Lumos Networks Corp. from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 19th. Zacks Investment Research downgraded shares of Lumos Networks Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, April 19th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $19.25.
WARNING: This piece was originally reported by American Banking News and is owned by of American Banking News. If you are reading this piece on another domain, it was illegally copied and reposted in violation of U.S. and international copyright & trademark law. The correct version of this piece can be viewed at https://www.americanbankingnews.com/2017/07/26/lumos-networks-corp-lmos-expected-to-announce-quarterly-sales-of-55-33-million.html.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Exane Asset Management acquired a new position in Lumos Networks Corp. during the second quarter worth $542,000. Public Employees Retirement System of Ohio acquired a new position in Lumos Networks Corp. during the first quarter worth $494,000. Goldman Sachs Group Inc. increased its position in Lumos Networks Corp. by 352.1% in the first quarter. Goldman Sachs Group Inc. now owns 367,641 shares of the utilities provider’s stock worth $6,507,000 after buying an additional 286,322 shares in the last quarter. Paloma Partners Management Co acquired a new position in Lumos Networks Corp. during the first quarter worth $251,000. Finally, Glazer Capital LLC acquired a new position in Lumos Networks Corp. during the first quarter worth $2,685,000. Institutional investors and hedge funds own 85.62% of the company’s stock.
Lumos Networks Corp. (LMOS) remained flat at $17.88 during mid-day trading on Wednesday. The company’s stock had a trading volume of 45,934 shares. The company’s 50 day moving average price is $17.88 and its 200-day moving average price is $17.35. The company’s market cap is $428.12 million. Lumos Networks Corp. has a 52-week low of $10.88 and a 52-week high of $17.99.
Lumos Networks Corp. Company Profile
Lumos Networks Corp. is a fiber-based bandwidth infrastructure and service provider in the Mid-Atlantic region with a network of long-haul fiber, metro Ethernet and Ethernet rings located primarily in Virginia and West Virginia, and portions of Maryland, Pennsylvania, Ohio and Kentucky. The Company serves carrier, business and residential customers over its fiber network offering data, voice and Internet protocol (IP) services.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Lumos Networks Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lumos Networks Corp. and related companies with MarketBeat.com's FREE daily email newsletter.