Lumos Networks Corp. (NASDAQ:LMOS) Expected to Post Quarterly Sales of $56.21 Million
Wall Street brokerages predict that Lumos Networks Corp. (NASDAQ:LMOS) will post sales of $56.21 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Lumos Networks Corp.’s earnings, with the lowest sales estimate coming in at $56.11 million and the highest estimate coming in at $56.30 million. Lumos Networks Corp. reported sales of $51.77 million in the same quarter last year, which indicates a positive year over year growth rate of 8.6%. The firm is scheduled to announce its next earnings results on Tuesday, November 14th.
On average, analysts expect that Lumos Networks Corp. will report full year sales of $56.21 million for the current year, with estimates ranging from $223.31 million to $224.00 million. For the next financial year, analysts anticipate that the business will post sales of $227.98 million per share, with estimates ranging from $226.90 million to $229.06 million. Zacks’ sales averages are an average based on a survey of analysts that follow Lumos Networks Corp..
Lumos Networks Corp. (NASDAQ:LMOS) last issued its quarterly earnings data on Monday, August 7th. The utilities provider reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The firm had revenue of $56.37 million during the quarter, compared to analysts’ expectations of $55.33 million. Lumos Networks Corp. had a negative return on equity of 2.79% and a negative net margin of 1.70%.
LMOS has been the subject of a number of recent research reports. Zacks Investment Research upgraded Lumos Networks Corp. from a “sell” rating to a “hold” rating in a report on Thursday, July 27th. BidaskClub downgraded Lumos Networks Corp. from a “hold” rating to a “sell” rating in a report on Thursday, July 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $19.25.
Shares of Lumos Networks Corp. (LMOS) opened at 17.88 on Friday. Lumos Networks Corp. has a 52 week low of $13.01 and a 52 week high of $17.99. The company’s 50 day moving average price is $17.89 and its 200-day moving average price is $17.50. The stock’s market capitalization is $428.12 million.
Several hedge funds have recently bought and sold shares of LMOS. Glazer Capital LLC increased its stake in Lumos Networks Corp. by 259.0% in the second quarter. Glazer Capital LLC now owns 544,592 shares of the utilities provider’s stock valued at $9,732,000 after buying an additional 392,891 shares during the last quarter. Parametric Portfolio Associates LLC increased its stake in Lumos Networks Corp. by 15.8% in the second quarter. Parametric Portfolio Associates LLC now owns 66,874 shares of the utilities provider’s stock valued at $1,195,000 after buying an additional 9,148 shares during the last quarter. Northern Trust Corp increased its stake in Lumos Networks Corp. by 18.9% in the second quarter. Northern Trust Corp now owns 313,921 shares of the utilities provider’s stock valued at $5,609,000 after buying an additional 49,860 shares during the last quarter. Gluskin Sheff & Assoc Inc. purchased a new stake in Lumos Networks Corp. during the second quarter valued at $5,862,000. Finally, New York State Common Retirement Fund increased its stake in Lumos Networks Corp. by 27.5% in the second quarter. New York State Common Retirement Fund now owns 26,400 shares of the utilities provider’s stock valued at $472,000 after buying an additional 5,699 shares during the last quarter. 84.04% of the stock is owned by institutional investors and hedge funds.
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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.
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