Brokerages Set Lumen Technologies, Inc. (NYSE:LUMN) Target Price at $4.02

Shares of Lumen Technologies, Inc. (NYSE:LUMN) have earned a consensus rating of “Reduce” from the eight ratings firms that are covering the stock, Marketbeat reports. Three research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $4.02.

Several research firms have commented on LUMN. The Goldman Sachs Group raised their price objective on Lumen Technologies from $4.50 to $5.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Bank of America lifted their target price on Lumen Technologies from $1.00 to $2.00 and gave the stock an “underperform” rating in a research report on Thursday, August 8th. TD Cowen dropped their target price on Lumen Technologies from $7.00 to $6.00 and set a “hold” rating on the stock in a research report on Wednesday, November 6th. JPMorgan Chase & Co. raised Lumen Technologies from an “underweight” rating to a “neutral” rating in a research report on Wednesday, August 7th. Finally, Moffett Nathanson lifted their target price on Lumen Technologies from $1.00 to $3.00 and gave the stock a “sell” rating in a research report on Wednesday, August 7th.

Lumen Technologies Trading Down 1.0 %

NYSE:LUMN opened at $8.54 on Friday. The business’s 50-day moving average is $6.93 and its two-hundred day moving average is $4.04. The company has a debt-to-equity ratio of 53.05, a current ratio of 1.20 and a quick ratio of 1.20. Lumen Technologies has a 12 month low of $0.97 and a 12 month high of $10.33. The firm has a market capitalization of $8.67 billion, a PE ratio of -3.94 and a beta of 1.21.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings data on Tuesday, November 5th. The technology company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.04). Lumen Technologies had a negative net margin of 16.06% and a negative return on equity of 49.74%. The company had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.21 billion. During the same period last year, the business earned ($0.09) earnings per share. The company’s revenue for the quarter was down 11.5% compared to the same quarter last year. Research analysts predict that Lumen Technologies will post -0.38 earnings per share for the current fiscal year.

Insider Activity at Lumen Technologies

In related news, Director James Fowler bought 10,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was bought at an average cost of $4.70 per share, for a total transaction of $47,000.00. Following the completion of the purchase, the director now directly owns 384,056 shares in the company, valued at approximately $1,805,063.20. The trade was a 2.67 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.68% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lumen Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of LUMN. Texas Permanent School Fund Corp boosted its position in shares of Lumen Technologies by 1.5% during the first quarter. Texas Permanent School Fund Corp now owns 880,306 shares of the technology company’s stock worth $1,373,000 after buying an additional 12,993 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Lumen Technologies during the first quarter worth approximately $45,000. ProShare Advisors LLC boosted its position in shares of Lumen Technologies by 8.3% during the first quarter. ProShare Advisors LLC now owns 226,243 shares of the technology company’s stock worth $353,000 after buying an additional 17,243 shares during the period. State Board of Administration of Florida Retirement System boosted its position in shares of Lumen Technologies by 247.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 1,143,468 shares of the technology company’s stock worth $1,784,000 after buying an additional 814,474 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Lumen Technologies by 22.4% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,190,256 shares of the technology company’s stock worth $3,198,000 after buying an additional 401,399 shares during the period. 66.19% of the stock is currently owned by institutional investors and hedge funds.

About Lumen Technologies

Lumen Technologies, Inc, a facilities-based technology and communications company, provides various integrated products and services to business and residential customers in the United States and internationally. The company operates in two segments, Business and Mass Markets. It offers dark fiber, edge cloud services, internet protocol, managed security, software-defined wide area networks, secure access service edge, unified communications and collaboration, and optical wavelengths services; ethernet and VPN data networks services; and legacy services to manage cash flow, including time division multiplexing voice, private line, and other legacy services, as well as sells communication equipment, and IT solutions.