Lumen Technologies (NYSE:LUMN) Upgraded by Wall Street Zen to Hold Rating

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

A number of other research firms have also weighed in on LUMN. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lumen Technologies in a research report on Thursday, January 22nd. The Goldman Sachs Group lifted their target price on shares of Lumen Technologies from $5.50 to $7.25 and gave the company a “neutral” rating in a research note on Wednesday, February 4th. UBS Group upped their target price on shares of Lumen Technologies from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. Royal Bank Of Canada increased their price target on Lumen Technologies from $4.25 to $8.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 25th. Finally, Citigroup decreased their price target on Lumen Technologies from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Lumen Technologies presently has an average rating of “Hold” and a consensus target price of $7.25.

Lumen Technologies Stock Down 2.9%

LUMN stock opened at $6.63 on Friday. Lumen Technologies has a twelve month low of $3.01 and a twelve month high of $11.95. The stock has a market cap of $6.79 billion, a P/E ratio of -3.81 and a beta of 1.56. The business’s 50-day moving average price is $7.91 and its 200-day moving average price is $7.53.

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, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $3.04 billion. During the same period in the prior year, the firm posted $0.09 EPS. The firm’s quarterly revenue was down 8.7% compared to the same quarter last year. On average, equities research analysts expect that Lumen Technologies will post -0.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Kathleen E. Johnson purchased 78,685 shares of the firm’s stock in a transaction on Thursday, February 5th. The shares were acquired at an average price of $6.35 per share, for a total transaction of $499,649.75. Following the purchase, the chief executive officer directly owned 8,562,582 shares in the company, valued at $54,372,395.70. This trade represents a 0.93% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Diankha Linear sold 45,000 shares of the stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $7.89, for a total transaction of $355,050.00. Following the transaction, the director directly owned 198,229 shares of the company’s stock, valued at $1,564,026.81. This trade represents a 18.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lumen Technologies

Hedge funds have recently made changes to their positions in the company. Bessemer Group Inc. grew its holdings in Lumen Technologies by 15.5% during the 3rd quarter. Bessemer Group Inc. now owns 7,209 shares of the technology company’s stock valued at $43,000 after buying an additional 968 shares in the last quarter. Fifth Third Bancorp raised its holdings in shares of 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 acquiring an additional 1,051 shares in the last quarter. Crossmark Global Holdings Inc. raised its holdings in shares of Lumen Technologies by 2.0% during the 4th quarter. Crossmark Global Holdings Inc. now owns 61,599 shares of the technology company’s stock worth $479,000 after acquiring an additional 1,230 shares in the last quarter. Xponance Inc. boosted its position in shares of Lumen Technologies by 1.7% during the 3rd quarter. Xponance Inc. now owns 75,686 shares of the technology company’s stock valued at $463,000 after acquiring an additional 1,273 shares during the last quarter. Finally, Arkadios Wealth Advisors grew its holdings in shares of Lumen Technologies by 10.5% in the third quarter. Arkadios Wealth Advisors now owns 14,154 shares of the technology company’s stock valued at $87,000 after purchasing an additional 1,340 shares in the last quarter. 66.19% of the stock is currently owned by hedge funds and other 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.