Lumen Technologies (NYSE:LUMN) Upgraded at Zacks Research

Zacks Research upgraded shares of Lumen Technologies (NYSE:LUMN) from a hold rating to a strong-buy rating in a report issued on Thursday,Zacks.com reports.

Other equities research analysts also recently issued reports about the company. Citigroup downgraded Lumen Technologies from a “buy” rating to a “neutral” rating and set a $11.00 target price for the company. in a research report on Friday, October 31st. The Goldman Sachs Group upped their price objective on Lumen Technologies from $4.10 to $4.60 and gave the company a “neutral” rating in a report on Friday, October 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lumen Technologies in a research note on Wednesday, October 8th. Royal Bank Of Canada boosted their price target on shares of Lumen Technologies from $4.25 to $8.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 25th. Finally, Wall Street Zen upgraded shares of Lumen Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, November 9th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $6.72.

Lumen Technologies Stock Down 3.1%

Shares of NYSE LUMN opened at $7.92 on Thursday. The stock has a market cap of $8.12 billion, a P/E ratio of -4.80 and a beta of 1.46. The firm’s 50-day simple moving average is $8.42 and its 200 day simple moving average is $6.52. Lumen Technologies has a fifty-two week low of $3.01 and a fifty-two week high of $11.95.

Lumen Technologies (NYSE:LUMN) last released its earnings results on Friday, January 27th. The technology company reported $0.49 EPS for the quarter. The firm had revenue of $4.05 billion for the quarter. Lumen Technologies had a negative net margin of 13.02% and a negative return on equity of 158.40%. On average, sell-side analysts anticipate that Lumen Technologies will post -0.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. UMB Bank n.a. lifted its position in shares of Lumen Technologies by 49.1% in the 3rd quarter. UMB Bank n.a. now owns 4,105 shares of the technology company’s stock valued at $25,000 after acquiring an additional 1,351 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of Lumen Technologies by 24.5% in the third quarter. Fifth Third Bancorp now owns 5,343 shares of the technology company’s stock valued at $33,000 after purchasing an additional 1,051 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of Lumen Technologies by 132.3% in the second quarter. Farther Finance Advisors LLC now owns 5,954 shares of the technology company’s stock worth $26,000 after buying an additional 3,391 shares during the period. MRP Capital Investments LLC grew its holdings in shares of Lumen Technologies by 160.0% during the second quarter. MRP Capital Investments LLC now owns 6,500 shares of the technology company’s stock valued at $28,000 after buying an additional 4,000 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its position in Lumen Technologies by 3,527.9% during the second quarter. Caitong International Asset Management Co. Ltd now owns 6,639 shares of the technology company’s stock valued at $29,000 after buying an additional 6,456 shares during the period. 66.19% of the stock is owned by hedge funds and other institutional investors.

About Lumen Technologies

Lumen Technologies is a multinational technology company specializing in integrated network, edge cloud, security and collaboration services for enterprise and public sector clients. The company’s core offerings include high-capacity fiber and IP-based connectivity, managed edge computing solutions designed to accelerate applications and data processing closer to end users, and cybersecurity services ranging from DDoS protection to unified threat management. Through its unified portfolio, Lumen enables organizations to support digital transformation initiatives, modernize infrastructure and enhance operational resilience.

Leveraging one of the largest fiber footprints in North America, as well as infrastructure in Latin America and parts of Europe, Lumen connects customers across more than 60 countries.