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

Lumen Technologies, Inc. (NYSE:LUMN) has earned a consensus recommendation of “Hold” from the eight ratings firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $6.72.

A number of research analysts have recently issued reports on LUMN shares. The Goldman Sachs Group lifted their target price on shares of Lumen Technologies from $4.10 to $4.60 and gave the company a “neutral” rating in a research note on Friday, October 3rd. Royal Bank Of Canada lifted their price objective on Lumen Technologies from $4.25 to $8.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 25th. Citigroup cut Lumen Technologies from a “buy” rating to a “neutral” rating and set a $11.00 target price on the stock. in a report on Friday, October 31st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lumen Technologies in a report on Wednesday, October 8th. 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.

Lumen Technologies Stock Performance

Shares of NYSE:LUMN opened at $8.16 on Wednesday. The company’s fifty day moving average is $8.29 and its 200-day moving average is $6.59. Lumen Technologies has a 52 week low of $3.01 and a 52 week high of $11.95. The company has a market capitalization of $8.37 billion, a PE ratio of -4.95 and a beta of 1.46.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings results on Thursday, October 30th. The technology company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.11. The firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.04 billion. Lumen Technologies had a negative net margin of 13.02% and a negative return on equity of 158.40%. The firm’s quarterly revenue was down 4.2% on a year-over-year basis. During the same period last year, the firm posted ($0.13) EPS. On average, analysts forecast that Lumen Technologies will post -0.87 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Capital Investment Advisors LLC acquired a new stake in Lumen Technologies during the 4th quarter worth $108,000. Murphy Middleton Hinkle & Parker Inc. bought a new position in shares of Lumen Technologies in the 4th quarter worth $68,000. SG Americas Securities LLC acquired a new stake in shares of Lumen Technologies during the fourth quarter worth $2,709,000. Fulton Bank N.A. acquired a new position in Lumen Technologies in the fourth quarter valued at about $323,000. Finally, Avior Wealth Management LLC lifted its stake in Lumen Technologies by 14.3% in the fourth quarter. Avior Wealth Management LLC now owns 61,087 shares of the technology company’s stock valued at $475,000 after buying an additional 7,629 shares during the period. Institutional investors own 66.19% of the company’s stock.

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.