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

Lumen Technologies, Inc. (NYSE:LUMN) has been given an average recommendation of “Hold” by the eight research firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $7.25.

Several analysts have recently commented on LUMN shares. Zacks Research upgraded Lumen Technologies from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 8th. The Goldman Sachs Group raised their price objective on Lumen Technologies from $5.50 to $7.25 and gave the company a “neutral” rating in a research note on Wednesday, February 4th. Royal Bank Of Canada upped their target price on Lumen Technologies from $4.25 to $8.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 25th. UBS Group lifted their price target on shares of Lumen Technologies from $5.00 to $6.00 and gave the company a “neutral” rating in a research report on Thursday, February 5th. Finally, Citigroup lowered their price objective on shares of Lumen Technologies from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Thursday, February 5th.

Insider Transactions at Lumen Technologies

In other Lumen Technologies news, CEO Kathleen E. Johnson purchased 78,685 shares of the company’s stock in a transaction that occurred on Thursday, February 5th. The shares were acquired at an average price of $6.35 per share, with a total value of $499,649.75. Following the transaction, the chief executive officer owned 8,562,582 shares in the company, valued at $54,372,395.70. The trade was a 0.93% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Diankha Linear sold 45,000 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $1,564,026.81. This represents a 18.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.30% of the company’s stock.

Institutional Trading of Lumen Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Lumen Technologies by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 602,705 shares of the technology company’s stock worth $2,363,000 after purchasing an additional 26,305 shares during the period. Empowered Funds LLC raised its stake in shares of Lumen Technologies by 26.8% in the first quarter. Empowered Funds LLC now owns 272,031 shares of the technology company’s stock valued at $1,066,000 after buying an additional 57,522 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Lumen Technologies by 11.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,985,216 shares of the technology company’s stock valued at $11,702,000 after buying an additional 300,328 shares during the last quarter. Y Intercept Hong Kong Ltd lifted its holdings in Lumen Technologies by 99.8% during the second quarter. Y Intercept Hong Kong Ltd now owns 25,000 shares of the technology company’s stock valued at $110,000 after purchasing an additional 12,488 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its holdings in Lumen Technologies by 4.9% in the 2nd quarter. Teacher Retirement System of Texas now owns 147,843 shares of the technology company’s stock worth $648,000 after buying an additional 6,883 shares during the period. 66.19% of the stock is owned by hedge funds and other institutional investors.

Lumen Technologies Stock Up 0.4%

Shares of LUMN stock opened at $6.96 on Thursday. The firm has a 50 day moving average of $7.95 and a 200-day moving average of $7.50. The company has a market cap of $7.13 billion, a price-to-earnings ratio of -4.00 and a beta of 1.56. Lumen Technologies has a 52 week low of $3.01 and a 52 week high of $11.95.

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

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.