Lumen Technologies, Inc. (NYSE:LUMN) Receives $4.71 Average Price Target from Brokerages

Shares of Lumen Technologies, Inc. (NYSE:LUMN) have received an average rating of “Reduce” from the eight research firms that are currently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $4.71.

A number of equities analysts have weighed in on the stock. Wells Fargo & Company cut shares of Lumen Technologies from an “equal weight” rating to an “underweight” rating and upped their price objective for the stock from $1.75 to $4.00 in a research report on Friday, August 16th. TD Cowen decreased their price target on shares of Lumen Technologies from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Wednesday, November 6th. The Goldman Sachs Group lifted their price objective on Lumen Technologies from $4.50 to $5.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Finally, Citigroup increased their target price on Lumen Technologies from $6.50 to $8.00 and gave the company a “neutral” rating in a report on Friday, November 29th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC raised its stake in Lumen Technologies by 1.7% during the third quarter. Geode Capital Management LLC now owns 23,344,313 shares of the technology company’s stock worth $165,776,000 after purchasing an additional 383,693 shares during the period. Front Street Capital Management Inc. raised its position in shares of Lumen Technologies by 30.1% during the 2nd quarter. Front Street Capital Management Inc. now owns 11,661,112 shares of the technology company’s stock valued at $12,827,000 after buying an additional 2,697,423 shares during the period. Renaissance Technologies LLC lifted its holdings in Lumen Technologies by 11.6% in the second quarter. Renaissance Technologies LLC now owns 8,873,803 shares of the technology company’s stock valued at $9,761,000 after acquiring an additional 919,300 shares during the last quarter. Millennium Management LLC grew its position in Lumen Technologies by 129.8% in the second quarter. Millennium Management LLC now owns 7,854,906 shares of the technology company’s stock worth $8,640,000 after acquiring an additional 4,436,710 shares during the period. Finally, AQR Capital Management LLC increased its stake in Lumen Technologies by 52.5% during the second quarter. AQR Capital Management LLC now owns 3,621,874 shares of the technology company’s stock worth $3,712,000 after acquiring an additional 1,246,289 shares during the last quarter. Institutional investors and hedge funds own 66.19% of the company’s stock.

Lumen Technologies Price Performance

Shares of LUMN opened at $6.40 on Tuesday. The company has a market capitalization of $6.49 billion, a P/E ratio of -2.95 and a beta of 1.21. The business’s 50-day moving average is $7.18 and its two-hundred day moving average is $4.78. The company has a debt-to-equity ratio of 53.05, a quick ratio of 1.20 and a current ratio of 1.20. Lumen Technologies has a fifty-two week low of $0.97 and a fifty-two week high of $10.33.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings data on Tuesday, November 5th. The technology company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.04). Lumen Technologies had a negative return on equity of 49.74% and a negative net margin of 16.06%. The company had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.21 billion. During the same quarter in the prior year, the company posted ($0.09) EPS. The company’s revenue for the quarter was down 11.5% on a year-over-year basis. Research analysts predict that Lumen Technologies will post -0.38 earnings per share for the current year.

About Lumen Technologies

Lumen Technologies, Inc, a facilities-based technology and communications company, provides various integrated products and services to business and residential customers in the United States and internationally. The company operates in two segments, Business and Mass Markets. It offers dark fiber, edge cloud services, internet protocol, managed security, software-defined wide area networks, secure access service edge, unified communications and collaboration, and optical wavelengths services; ethernet and VPN data networks services; and legacy services to manage cash flow, including time division multiplexing voice, private line, and other legacy services, as well as sells communication equipment, and IT solutions.