Lumen Technologies, Inc. to Post Q2 2023 Earnings of $0.04 Per Share, Zacks Research Forecasts (NYSE:LUMN)

Lumen Technologies, Inc. (NYSE:LUMNGet Rating) – Equities researchers at Zacks Research decreased their Q2 2023 earnings estimates for Lumen Technologies in a report released on Tuesday, May 16th. Zacks Research analyst V. Doshi now expects that the technology company will post earnings per share of $0.04 for the quarter, down from their previous forecast of $0.10. The consensus estimate for Lumen Technologies’ current full-year earnings is $0.44 per share. Zacks Research also issued estimates for Lumen Technologies’ Q3 2023 earnings at $0.02 EPS, Q4 2023 earnings at $0.01 EPS, Q2 2024 earnings at ($0.01) EPS, Q3 2024 earnings at $0.02 EPS and Q4 2024 earnings at $0.01 EPS.

Other equities analysts have also recently issued research reports about the company. Morgan Stanley reduced their target price on Lumen Technologies from $6.00 to $2.50 and set an “underweight” rating on the stock in a report on Monday, March 13th. TheStreet downgraded Lumen Technologies from a “c” rating to a “d” rating in a research note on Tuesday, February 7th. Citigroup downgraded Lumen Technologies from a “neutral” rating to a “sell” rating and reduced their price target for the company from $6.25 to $3.50 in a research note on Wednesday, February 8th. Bank of America dropped their price objective on Lumen Technologies from $4.00 to $2.00 in a report on Thursday, May 4th. Finally, The Goldman Sachs Group lowered their price target on Lumen Technologies from $6.00 to $4.00 and set a “neutral” rating for the company in a report on Wednesday, February 8th. Three equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to, Lumen Technologies currently has a consensus rating of “Hold” and a consensus price target of $5.11.

Lumen Technologies Price Performance

Lumen Technologies stock opened at $2.35 on Friday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market cap of $2.36 billion, a P/E ratio of -1.42 and a beta of 1.01. The business’s fifty day moving average is $2.42 and its two-hundred day moving average is $4.16. Lumen Technologies has a 52 week low of $2.06 and a 52 week high of $12.54.

Lumen Technologies (NYSE:LUMNGet Rating) last released its earnings results on Tuesday, May 2nd. The technology company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.02). Lumen Technologies had a positive return on equity of 8.87% and a negative net margin of 9.89%. The firm had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.73 billion. During the same period in the previous year, the firm earned $0.63 earnings per share. Lumen Technologies’s revenue was down 20.1% on a year-over-year basis.

Hedge Funds Weigh In On Lumen Technologies

Hedge funds have recently made changes to their positions in the stock. Parkside Financial Bank & Trust grew its position in Lumen Technologies by 2,331.1% during the 1st quarter. Parkside Financial Bank & Trust now owns 10,551 shares of the technology company’s stock worth $28,000 after purchasing an additional 10,117 shares during the last quarter. Lindbrook Capital LLC boosted its holdings in shares of Lumen Technologies by 356.7% in the first quarter. Lindbrook Capital LLC now owns 10,879 shares of the technology company’s stock valued at $29,000 after acquiring an additional 8,497 shares in the last quarter. Avidian Wealth Solutions LLC acquired a new stake in shares of Lumen Technologies in the first quarter valued at about $29,000. PDS Planning Inc acquired a new stake in shares of Lumen Technologies in the first quarter valued at about $30,000. Finally, Independent Advisor Alliance acquired a new stake in shares of Lumen Technologies in the first quarter valued at about $30,000. Hedge funds and other institutional investors own 76.03% of the company’s stock.

Lumen Technologies Company Profile

(Get Rating)

Lumen Technologies, Inc is an investment holding company, which engages in the provision of integrated communications to residential and business customers. It operates through the following segments: Business and Mass Markets. Business segment provides products and services under four sales channels to enterprise and commercial customers.

Featured Stories

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

Receive News & Ratings for Lumen Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lumen Technologies and related companies with's FREE daily email newsletter.