Lumen Technologies, Inc. (NYSE:LUMN) Expected to Post Quarterly Sales of $4.68 Billion

Wall Street brokerages forecast that Lumen Technologies, Inc. (NYSE:LUMNGet Rating) will report $4.68 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Ten analysts have issued estimates for Lumen Technologies’ earnings, with the lowest sales estimate coming in at $4.64 billion and the highest estimate coming in at $4.72 billion. Lumen Technologies posted sales of $5.03 billion in the same quarter last year, which suggests a negative year over year growth rate of 7%. The company is expected to issue its next quarterly earnings results after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Lumen Technologies will report full-year sales of $17.43 billion for the current fiscal year, with estimates ranging from $16.76 billion to $18.45 billion. For the next fiscal year, analysts forecast that the firm will report sales of $16.02 billion, with estimates ranging from $14.66 billion to $18.16 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Lumen Technologies.

Lumen Technologies (NYSE:LUMNGet Rating) last announced its earnings results on Wednesday, February 9th. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.04). The company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.86 billion. Lumen Technologies had a net margin of 10.33% and a return on equity of 17.72%.

LUMN has been the topic of several recent analyst reports. Moffett Nathanson reduced their target price on Lumen Technologies from $10.00 to $8.00 in a research report on Wednesday, February 16th. Zacks Investment Research lowered Lumen Technologies from a “hold” rating to a “strong sell” rating and set a $9.75 target price on the stock. in a research report on Tuesday. Finally, TheStreet raised shares of Lumen Technologies from a “c+” rating to a “b” rating in a report on Friday, February 11th. Two analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. According to data from MarketBeat.com, Lumen Technologies has a consensus rating of “Hold” and a consensus price target of $10.44.

Several hedge funds and other institutional investors have recently modified their holdings of LUMN. Geode Capital Management LLC lifted its holdings in Lumen Technologies by 3.6% during the third quarter. Geode Capital Management LLC now owns 19,377,675 shares of the technology company’s stock valued at $239,678,000 after purchasing an additional 680,005 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Lumen Technologies by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 19,103,908 shares of the technology company’s stock valued at $239,781,000 after acquiring an additional 311,444 shares in the last quarter. Morgan Stanley grew its stake in Lumen Technologies by 43.0% during the 3rd quarter. Morgan Stanley now owns 18,060,303 shares of the technology company’s stock valued at $223,768,000 after acquiring an additional 5,433,554 shares in the last quarter. Northern Trust Corp grew its stake in Lumen Technologies by 0.4% during the 4th quarter. Northern Trust Corp now owns 11,725,494 shares of the technology company’s stock valued at $147,156,000 after acquiring an additional 44,612 shares in the last quarter. Finally, ACR Alpine Capital Research LLC grew its stake in Lumen Technologies by 0.7% during the 4th quarter. ACR Alpine Capital Research LLC now owns 10,467,339 shares of the technology company’s stock valued at $131,365,000 after acquiring an additional 73,768 shares in the last quarter. 77.59% of the stock is currently owned by institutional investors and hedge funds.

Shares of Lumen Technologies stock opened at $10.81 on Friday. The firm’s 50 day moving average price is $10.84 and its 200-day moving average price is $12.02. Lumen Technologies has a 52-week low of $9.31 and a 52-week high of $15.45. The company has a market cap of $11.16 billion, a P/E ratio of 5.69, a PEG ratio of 1.04 and a beta of 1.02. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 2.32.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 18th. Stockholders of record on Tuesday, March 8th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.25%. Lumen Technologies’s payout ratio is 52.36%.

Lumen Technologies Company Profile (Get Rating)

Lumen Technologies, Inc, a facilities-based technology and communications company, provides various integrated products and services under the Lumen, Quantum Fiber, and CenturyLink brands to business and residential customers in the United States and internationally. The company operates in two segments, Business and Mass Markets.

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Earnings History and Estimates for Lumen Technologies (NYSE:LUMN)

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