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

Lumen Technologies, Inc. (NYSE:LUMN) has been assigned a consensus rating of “Hold” from the eight analysts that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $7.25.

A number of equities research analysts recently commented on the company. Zacks Research raised Lumen Technologies from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 8th. The Goldman Sachs Group increased their target price on Lumen Technologies from $5.50 to $7.25 and gave the company a “neutral” rating in a research note on Wednesday, February 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Lumen Technologies in a report on Thursday, January 22nd. UBS Group upped their price target on Lumen Technologies from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Thursday, February 5th. Finally, Wall Street Zen upgraded shares of Lumen Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, March 8th.

Lumen Technologies Price Performance

Shares of NYSE LUMN opened at $6.66 on Monday. Lumen Technologies has a fifty-two week low of $3.01 and a fifty-two week high of $11.95. The firm has a market capitalization of $6.82 billion, a P/E ratio of -3.82 and a beta of 1.56. The company’s 50 day simple moving average is $7.52 and its 200 day simple moving average is $7.73.

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

Insider Activity at Lumen Technologies

In other news, CEO Kathleen E. Johnson purchased 78,685 shares of the firm’s stock in a transaction dated Thursday, February 5th. The stock was bought at an average price of $6.35 per share, with a total value of $499,649.75. Following the acquisition, the chief executive officer directly owned 8,562,582 shares of the company’s stock, valued at approximately $54,372,395.70. This represents a 0.93% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Diankha Linear sold 45,000 shares of the firm’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $7.89, for a total value of $355,050.00. Following the sale, the director directly owned 198,229 shares in the company, valued at $1,564,026.81. The trade was a 18.50% decrease in their position. The SEC filing for this sale provides additional information. 2.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lumen Technologies

Several large investors have recently modified their holdings of LUMN. UMB Bank n.a. increased its position in shares of 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 acquiring an additional 1,351 shares in the last quarter. Kemnay Advisory Services Inc. bought a new stake in Lumen Technologies in the 4th quarter valued at $25,000. MRP Capital Investments LLC boosted its stake 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 period. International Assets Investment Management LLC bought a new position in Lumen Technologies during the 4th quarter worth about $30,000. Finally, Fifth Third Bancorp increased its holdings in Lumen Technologies by 24.5% during the 3rd quarter. Fifth Third Bancorp now owns 5,343 shares of the technology company’s stock worth $33,000 after purchasing an additional 1,051 shares in 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.