Lumen Technologies, Inc. (NYSE:LUMN – Get Free Report) shares were down 7.3% on Tuesday after Morgan Stanley lowered their price target on the stock from $2.50 to $1.80. Morgan Stanley currently has an underweight rating on the stock. Lumen Technologies traded as low as $1.46 and last traded at $1.47. Approximately 6,491,466 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 26,962,707 shares. The stock had previously closed at $1.58.
A number of other equities analysts have also commented on LUMN. Raymond James raised Lumen Technologies from an “underperform” rating to a “market perform” rating in a research note on Tuesday, June 6th. They noted that the move was a valuation call. Royal Bank of Canada cut their price target on Lumen Technologies from $2.75 to $2.25 and set a “sector perform” rating on the stock in a research note on Thursday, August 17th. Finally, The Goldman Sachs Group cut their price target on Lumen Technologies from $3.50 to $3.00 and set a “neutral” rating on the stock in a research note on Thursday, August 3rd. Three investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $4.51.
Hedge Funds Weigh In On Lumen Technologies
Lumen Technologies Price Performance
The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of -0.14 and a beta of 1.01. The company has a debt-to-equity ratio of 8.71, a quick ratio of 1.23 and a current ratio of 1.23. The business has a 50 day moving average price of $1.83 and a 200-day moving average price of $2.24.
Lumen Technologies (NYSE:LUMN – Get Free Report) last posted its quarterly earnings results on Tuesday, August 1st. The technology company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. The business had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.67 billion. Lumen Technologies had a positive return on equity of 8.44% and a negative net margin of 68.74%. The firm’s revenue for the quarter was down 20.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.35 EPS. Research analysts predict that Lumen Technologies, Inc. will post 0.22 EPS for the current fiscal year.
About Lumen Technologies
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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