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

Lumen Technologies, Inc. (NYSE:LUMN) has earned an average recommendation of “Hold” from the eight research firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $7.25.

LUMN has been the topic of a number of research reports. Wall Street Zen raised shares of Lumen Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, March 8th. Raymond James Financial reiterated a “market perform” rating on shares of Lumen Technologies in a research note on Wednesday, February 4th. UBS Group boosted their price target on shares of Lumen Technologies from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Citigroup decreased their price objective on Lumen Technologies from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Thursday, February 5th. Finally, The Goldman Sachs Group increased their price target on Lumen Technologies from $5.50 to $7.25 and gave the company a “neutral” rating in a research report on Wednesday, February 4th.

Lumen Technologies Stock Performance

Shares of Lumen Technologies stock opened at $6.66 on Monday. The firm has a market cap of $6.82 billion, a PE ratio of -3.82 and a beta of 1.56. The business’s 50 day simple moving average is $7.52 and its 200 day simple moving average is $7.73. Lumen Technologies has a 52-week low of $3.01 and a 52-week high of $11.95.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings results on Tuesday, February 3rd. The technology company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.44. The firm had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.04 billion. Lumen Technologies had a negative return on equity of 158.40% and a negative net margin of 14.02%.The business’s revenue was down 8.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.09 EPS. As a group, equities research analysts predict that Lumen Technologies will post -0.87 EPS for the current year.

Insider Activity at Lumen Technologies

In related news, Director Diankha Linear sold 45,000 shares of the business’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $7.89, for a total transaction of $355,050.00. Following the transaction, the director directly owned 198,229 shares in the company, valued at approximately $1,564,026.81. The trade was a 18.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kathleen E. Johnson purchased 78,685 shares of the company’s stock in a transaction on Thursday, February 5th. The shares were purchased at an average cost of $6.35 per share, for a total transaction of $499,649.75. Following the completion of the transaction, the chief executive officer directly owned 8,562,582 shares of the company’s stock, valued at approximately $54,372,395.70. This represents a 0.93% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of LUMN. Bessemer Group Inc. lifted its stake in Lumen Technologies by 15.5% in the 3rd quarter. Bessemer Group Inc. now owns 7,209 shares of the technology company’s stock valued at $43,000 after purchasing an additional 968 shares during the last quarter. Fifth Third Bancorp increased its position in Lumen Technologies by 24.5% during the third quarter. Fifth Third Bancorp now owns 5,343 shares of the technology company’s stock worth $33,000 after buying an additional 1,051 shares during the last quarter. Crossmark Global Holdings Inc. raised its stake in Lumen Technologies by 2.0% in the fourth quarter. Crossmark Global Holdings Inc. now owns 61,599 shares of the technology company’s stock valued at $479,000 after buying an additional 1,230 shares during the period. Xponance Inc. lifted its position in shares of Lumen Technologies by 1.7% in the third quarter. Xponance Inc. now owns 75,686 shares of the technology company’s stock valued at $463,000 after buying an additional 1,273 shares during the last quarter. Finally, Arkadios Wealth Advisors lifted its position in shares of Lumen Technologies by 10.5% in the third quarter. Arkadios Wealth Advisors now owns 14,154 shares of the technology company’s stock valued at $87,000 after buying an additional 1,340 shares during the last quarter. 66.19% of the stock is currently owned by institutional investors and hedge funds.

Lumen Technologies Company Profile

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.