Lumen Technologies, Inc. (NYSE:LUMN) Receives $4.66 Consensus Target Price from Analysts

Shares of Lumen Technologies, Inc. (NYSE:LUMN) have been assigned an average rating of “Reduce” from the nine analysts that are presently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $4.66.

LUMN has been the subject of several research reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $4.25 target price (up previously from $4.00) on shares of Lumen Technologies in a report on Friday, December 20th. Citigroup lifted their target price on Lumen Technologies from $6.50 to $8.00 and gave the company a “neutral” rating in a research report on Friday, November 29th. The Goldman Sachs Group increased their price target on shares of Lumen Technologies from $4.50 to $5.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Finally, TD Cowen cut their target price 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.

Lumen Technologies Price Performance

Shares of Lumen Technologies stock opened at $4.93 on Wednesday. The firm has a market cap of $5.00 billion, a P/E ratio of -2.27 and a beta of 1.28. 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 twelve month low of $0.97 and a twelve month high of $10.33. The firm’s 50-day simple moving average is $5.96 and its 200-day simple moving average is $5.89.

Lumen Technologies (NYSE:LUMN) last announced its earnings results on Tuesday, November 5th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.04). The company had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.21 billion. Lumen Technologies had a negative net margin of 16.06% and a negative return on equity of 49.74%. The firm’s revenue for the quarter was down 11.5% compared to the same quarter last year. During the same quarter last year, the business earned ($0.09) EPS. As a group, research analysts expect that Lumen Technologies will post -0.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC boosted its position in shares of Lumen Technologies by 1.7% during the 3rd 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 in the last quarter. Hennessy Advisors Inc. purchased a new stake in Lumen Technologies during the fourth quarter worth about $45,089,000. Millennium Management LLC increased its holdings 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 valued at $8,640,000 after buying an additional 4,436,710 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Lumen Technologies by 2.7% during the 4th quarter. Principal Financial Group Inc. now owns 4,921,381 shares of the technology company’s stock valued at $26,133,000 after acquiring an additional 128,172 shares during the period. Finally, AQR Capital Management LLC boosted its stake in shares of Lumen Technologies by 52.5% during the 2nd 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 in the last quarter. 66.19% of the stock is currently owned by institutional investors and hedge funds.

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.