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

Lumen Technologies, Inc. (NYSE:LUMN) has received an average rating of “Reduce” from the eleven brokerages that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and ten have assigned a hold recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $7.9063.

A number of analysts have recently issued reports on the company. TD Cowen boosted their target price on Lumen Technologies from $8.00 to $9.00 and gave the stock a “hold” rating in a report on Wednesday, May 6th. Wall Street Zen upgraded Lumen Technologies from a “sell” rating to a “hold” rating in a report on Sunday, May 3rd. Wells Fargo & Company boosted their target price on Lumen Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lumen Technologies in a report on Tuesday, April 21st. Finally, UBS Group boosted their target price on Lumen Technologies from $6.00 to $8.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th.

Hedge Funds Weigh In On Lumen Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of LUMN. Kemnay Advisory Services Inc. purchased a new position in Lumen Technologies in the 4th quarter worth approximately $25,000. Ascentis Independent Advisors purchased a new position in Lumen Technologies in the 1st quarter worth approximately $27,000. International Assets Investment Management LLC purchased a new position in Lumen Technologies in the 4th quarter worth approximately $30,000. Fifth Third Bancorp raised its position in shares of Lumen Technologies by 24.5% in 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 in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Lumen Technologies in the 4th quarter valued at approximately $35,000. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Lumen Technologies Price Performance

LUMN opened at $8.48 on Friday. The stock has a market capitalization of $8.74 billion, a price-to-earnings ratio of -4.87 and a beta of 1.70. The business has a 50-day moving average of $8.90 and a two-hundred day moving average of $8.16. Lumen Technologies has a 12 month low of $3.37 and a 12 month high of $11.95.

Lumen Technologies (NYSE:LUMN) last issued its earnings results on Tuesday, May 5th. The technology company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.34). The firm had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.83 billion. During the same period in the prior year, the firm earned ($0.13) EPS. The business’s revenue for the quarter was down 8.9% on a year-over-year basis. Equities research analysts anticipate that Lumen Technologies will post -0.39 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.