Lumen Technologies, Inc. (NYSE:LUMN) Receives Average Rating of “Hold” from Analysts

Lumen Technologies, Inc. (NYSE:LUMN) has been given a consensus recommendation of “Hold” by the eight research firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $6.72.

A number of research analysts have issued reports on LUMN shares. Citigroup cut Lumen Technologies from a “buy” rating to a “neutral” rating and set a $11.00 target price for the company. in a research note on Friday, October 31st. The Goldman Sachs Group raised their target price on shares of Lumen Technologies from $4.10 to $4.60 and gave the stock a “neutral” rating in a report on Friday, October 3rd. Royal Bank Of Canada upped their price target on shares of Lumen Technologies from $4.25 to $8.00 and gave the company a “sector perform” rating in a report on Tuesday, November 25th. Weiss Ratings restated a “sell (d-)” rating on shares of Lumen Technologies in a report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Lumen Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, November 9th.

Institutional Investors Weigh In On Lumen Technologies

Several institutional investors have recently bought and sold shares of LUMN. UMB Bank n.a. grew its holdings in Lumen Technologies by 49.1% during the third quarter. UMB Bank n.a. now owns 4,105 shares of the technology company’s stock worth $25,000 after purchasing an additional 1,351 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of Lumen Technologies by 132.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 5,954 shares of the technology company’s stock worth $26,000 after acquiring an additional 3,391 shares during the period. MRP Capital Investments LLC increased its holdings in shares of Lumen Technologies by 160.0% during the 2nd quarter. MRP Capital Investments LLC now owns 6,500 shares of the technology company’s stock worth $28,000 after acquiring an additional 4,000 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its stake in Lumen Technologies by 3,527.9% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 6,639 shares of the technology company’s stock valued at $29,000 after acquiring an additional 6,456 shares during the period. Finally, Fifth Third Bancorp lifted its holdings in Lumen Technologies by 24.5% during the 3rd quarter. Fifth Third Bancorp now owns 5,343 shares of the technology company’s stock valued at $33,000 after purchasing an additional 1,051 shares during the last quarter. Institutional investors own 66.19% of the company’s stock.

Lumen Technologies Stock Performance

Shares of NYSE:LUMN opened at $8.16 on Wednesday. The company has a 50 day moving average price of $8.29 and a two-hundred day moving average price of $6.59. The company has a market capitalization of $8.37 billion, a PE ratio of -4.95 and a beta of 1.46. Lumen Technologies has a 52 week low of $3.01 and a 52 week high of $11.95.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings results on Thursday, October 30th. The technology company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.11. The company had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.04 billion. Lumen Technologies had a negative net margin of 13.02% and a negative return on equity of 158.40%. The firm’s revenue was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.13) EPS. On average, sell-side analysts forecast that Lumen Technologies will post -0.87 earnings per share for the current year.

About Lumen Technologies

Lumen Technologies is a multinational technology company specializing in integrated network, edge cloud, security and collaboration services for enterprise and public sector clients. The company’s core offerings include high-capacity fiber and IP-based connectivity, managed edge computing solutions designed to accelerate applications and data processing closer to end users, and cybersecurity services ranging from DDoS protection to unified threat management. Through its unified portfolio, Lumen enables organizations to support digital transformation initiatives, modernize infrastructure and enhance operational resilience.

Leveraging one of the largest fiber footprints in North America, as well as infrastructure in Latin America and parts of Europe, Lumen connects customers across more than 60 countries.