Lumen Technologies, Inc. (NYSE:LUMN) Given Average Rating of “Hold” by Analysts

Lumen Technologies, Inc. (NYSE:LUMN) has earned an average recommendation of “Hold” from the eight ratings firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $5.3917.

A number of research analysts recently commented on the company. Raymond James Financial increased their price target on Lumen Technologies from $4.50 to $5.00 and gave the company an “outperform” rating in a report on Friday, August 1st. Wall Street Zen raised shares of Lumen Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, August 3rd. Citigroup lifted their price target on shares of Lumen Technologies from $6.00 to $7.50 and gave the stock a “buy” rating in a research note on Thursday, September 25th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lumen Technologies in a research note on Wednesday, October 8th. Finally, The Goldman Sachs Group raised their price objective on shares of Lumen Technologies from $4.10 to $4.60 and gave the stock a “neutral” rating in a report on Friday, October 3rd.

Insider Transactions at Lumen Technologies

In other news, CEO Kathleen E. Johnson bought 135,870 shares of the stock in a transaction that occurred on Tuesday, August 5th. The shares were purchased at an average cost of $3.69 per share, with a total value of $501,360.30. Following the completion of the acquisition, the chief executive officer directly owned 9,616,947 shares in the company, valued at approximately $35,486,534.43. The trade was a 1.43% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Christopher Stansbury purchased 42,000 shares of the company’s stock in a transaction on Thursday, August 14th. The stock was acquired at an average price of $4.29 per share, for a total transaction of $180,180.00. Following the completion of the transaction, the chief financial officer owned 518,000 shares of the company’s stock, valued at $2,222,220. This represents a 8.82% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired 217,870 shares of company stock worth $859,140 in the last three months. 2.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lumen Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Lumen Technologies in the 2nd quarter valued at approximately $47,923,000. Nuveen LLC purchased a new position in shares of Lumen Technologies during the 1st quarter valued at $26,469,000. Invesco Ltd. increased its stake in shares of Lumen Technologies by 91.6% in the first quarter. Invesco Ltd. now owns 10,276,782 shares of the technology company’s stock worth $40,285,000 after acquiring an additional 4,911,803 shares during the last quarter. Curi Capital LLC purchased a new stake in shares of Lumen Technologies during the second quarter worth $14,144,000. Finally, Vaughan Nelson Investment Management L.P. acquired a new stake in Lumen Technologies during the third quarter valued at $18,439,000. Institutional investors and hedge funds own 66.19% of the company’s stock.

Lumen Technologies Stock Down 6.5%

LUMN opened at $10.29 on Friday. The company has a market cap of $10.55 billion, a price-to-earnings ratio of -8.72 and a beta of 1.45. The company has a debt-to-equity ratio of 59.98, a quick ratio of 2.13 and a current ratio of 2.13. The business’s fifty day moving average is $6.38 and its two-hundred day moving average is $4.88. Lumen Technologies has a one year low of $3.01 and a one year high of $11.32.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings data on Friday, January 27th. The technology company reported $0.49 EPS for the quarter. The company had revenue of $4.05 billion during the quarter. Lumen Technologies had a negative net margin of 9.19% and a negative return on equity of 158.40%. Analysts anticipate that Lumen Technologies will post -0.87 EPS for the current fiscal year.

Lumen Technologies Company Profile

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.