Lumen Technologies, Inc. (NYSE:LUMN) Receives $4.02 Consensus Target Price from Analysts

Lumen Technologies, Inc. (NYSE:LUMN) has earned a consensus recommendation of “Reduce” from the eight analysts that are covering the stock, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $4.02.

A number of equities research analysts have commented on LUMN shares. Moffett Nathanson lifted their target price on Lumen Technologies from $1.00 to $3.00 and gave the company a “sell” rating in a research report on Wednesday, August 7th. Wells Fargo & Company downgraded Lumen Technologies from an “equal weight” rating to an “underweight” rating and boosted their price objective for the company from $1.75 to $4.00 in a report on Friday, August 16th. Bank of America boosted their price objective on Lumen Technologies from $1.00 to $2.00 and gave the company an “underperform” rating in a report on Thursday, August 8th. TD Cowen cut their price objective on Lumen Technologies from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Wednesday, November 6th. Finally, The Goldman Sachs Group boosted their price objective on Lumen Technologies from $4.50 to $5.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th.

Insider Buying and Selling at Lumen Technologies

In related news, Director James Fowler bought 10,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average price of $4.70 per share, for a total transaction of $47,000.00. Following the acquisition, the director now owns 384,056 shares in the company, valued at $1,805,063.20. This represents a 2.67 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.68% of the stock is owned by insiders.

Institutional Investors Weigh In On Lumen Technologies

Hedge funds have recently made changes to their positions in the business. Congress Asset Management Co. acquired a new stake in shares of Lumen Technologies during the third quarter worth $2,592,000. Quadrature Capital Ltd acquired a new stake in shares of Lumen Technologies during the first quarter worth $468,000. Mackenzie Financial Corp boosted its holdings in shares of Lumen Technologies by 267.4% during the second quarter. Mackenzie Financial Corp now owns 236,390 shares of the technology company’s stock worth $260,000 after purchasing an additional 172,040 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Lumen Technologies by 22.4% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,190,256 shares of the technology company’s stock valued at $3,198,000 after acquiring an additional 401,399 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D acquired a new position in Lumen Technologies in the third quarter valued at $2,710,000. Institutional investors and hedge funds own 66.19% of the company’s stock.

Lumen Technologies Stock Performance

NYSE LUMN opened at $8.54 on Friday. The stock’s fifty day moving average is $6.93 and its two-hundred day moving average is $4.04. The firm has a market capitalization of $8.67 billion, a P/E ratio of -3.94 and a beta of 1.21. 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) earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $3.21 billion. During the same period last year, the firm posted ($0.09) EPS. The business’s quarterly revenue was down 11.5% on a year-over-year basis. On average, research analysts anticipate 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.