Lumen Technologies (NYSE:LUMN) Stock Rating Lowered by Wall Street Zen

Lumen Technologies (NYSE:LUMN) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

Other research analysts have also recently issued reports about the stock. Raymond James Financial reiterated a “market perform” rating on shares of Lumen Technologies in a report on Wednesday, February 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Lumen Technologies in a research report on Thursday, January 22nd. UBS Group lifted their price objective on shares of Lumen Technologies from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Citigroup reduced their target price on Lumen Technologies from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Thursday, February 5th. Finally, Zacks Research upgraded Lumen Technologies from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $7.25.

Lumen Technologies Stock Performance

Lumen Technologies stock opened at $7.09 on Friday. The firm has a market cap of $7.26 billion, a price-to-earnings ratio of -4.07 and a beta of 1.51. Lumen Technologies has a 1 year low of $3.01 and a 1 year high of $11.95. The firm’s 50 day moving average price is $8.01 and its two-hundred day moving average price is $7.42.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings data on Tuesday, February 3rd. The technology company reported $0.23 earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.44. The business had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.04 billion. Lumen Technologies had a negative return on equity of 158.40% and a negative net margin of 14.02%.The company’s revenue was down 8.7% compared to the same quarter last year. During the same period last year, the company posted $0.09 EPS. As a group, equities analysts predict that Lumen Technologies will post -0.87 EPS for the current fiscal year.

Insider Activity at Lumen Technologies

In other Lumen Technologies news, CEO Kathleen E. Johnson bought 78,685 shares of Lumen Technologies stock in a transaction on Thursday, February 5th. The stock was purchased at an average cost of $6.35 per share, for a total transaction of $499,649.75. Following the completion of the purchase, the chief executive officer directly owned 8,562,582 shares of the company’s stock, valued at $54,372,395.70. The trade was a 0.93% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Diankha Linear sold 45,000 shares of the stock in a transaction on Friday, February 20th. The stock was sold at an average price of $7.89, for a total transaction of $355,050.00. Following the transaction, the director owned 198,229 shares in the company, valued at approximately $1,564,026.81. This trade represents a 18.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Lumen Technologies

A number of large investors have recently bought and sold shares of LUMN. UMB Bank n.a. increased its position in Lumen Technologies by 49.1% during the third quarter. UMB Bank n.a. now owns 4,105 shares of the technology company’s stock worth $25,000 after buying an additional 1,351 shares during the last quarter. Kemnay Advisory Services Inc. bought a new position in shares of Lumen Technologies in the 4th quarter valued at approximately $25,000. MRP Capital Investments LLC lifted its holdings in Lumen Technologies by 160.0% in the 2nd quarter. MRP Capital Investments LLC now owns 6,500 shares of the technology company’s stock worth $28,000 after purchasing an additional 4,000 shares during the last quarter. International Assets Investment Management LLC bought a new stake in Lumen Technologies during the fourth quarter worth approximately $30,000. Finally, Fifth Third Bancorp grew its holdings in Lumen Technologies by 24.5% during 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 during the last quarter. 66.19% of the stock is currently owned by institutional investors.

Lumen Technologies Company Profile

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.