Lumen Technologies, Inc. (NYSE:LUMN) Receives $6.72 Average PT from Analysts

Lumen Technologies, Inc. (NYSE:LUMN) has been given a consensus recommendation of “Hold” by the seven ratings firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $6.72.

A number of research firms have weighed in on LUMN. Wall Street Zen raised shares of Lumen Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, November 9th. Citigroup downgraded Lumen Technologies from a “buy” rating to a “neutral” rating and set a $11.00 price target for the company. in a report on Friday, October 31st. Weiss Ratings restated a “sell (d-)” rating on shares of Lumen Technologies in a report on Wednesday, October 8th. Royal Bank Of Canada increased their target price on Lumen Technologies from $4.25 to $8.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 25th. Finally, The Goldman Sachs Group lifted their price target on shares of Lumen Technologies from $4.10 to $4.60 and gave the stock a “neutral” rating in a research note on Friday, October 3rd.

Hedge Funds Weigh In On Lumen Technologies

A number of hedge funds have recently bought and sold shares of the company. LPL Financial LLC raised its stake in Lumen Technologies by 1.0% during the first quarter. LPL Financial LLC now owns 380,016 shares of the technology company’s stock valued at $1,490,000 after buying an additional 3,927 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Lumen Technologies by 270.1% during the 1st quarter. Russell Investments Group Ltd. now owns 290,475 shares of the technology company’s stock valued at $1,139,000 after acquiring an additional 211,983 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. lifted its stake in Lumen Technologies by 29.4% during the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 87,430 shares of the technology company’s stock worth $341,000 after purchasing an additional 19,886 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Lumen Technologies by 141.4% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 51,125 shares of the technology company’s stock worth $200,000 after purchasing an additional 29,947 shares during the period. Finally, Smartleaf Asset Management LLC increased its stake in Lumen Technologies by 60.8% during the first quarter. Smartleaf Asset Management LLC now owns 10,847 shares of the technology company’s stock valued at $43,000 after purchasing an additional 4,102 shares during the last quarter. 66.19% of the stock is currently owned by institutional investors and hedge funds.

Lumen Technologies Stock Down 5.2%

Shares of NYSE:LUMN opened at $7.77 on Friday. The company has a market capitalization of $7.96 billion, a price-to-earnings ratio of -4.71 and a beta of 1.42. The company has a 50 day moving average of $8.56 and a two-hundred day moving average of $6.17. Lumen Technologies has a 52-week low of $3.01 and a 52-week high of $11.95. The company has a quick ratio of 2.21, a current ratio of 2.21 and a debt-to-equity ratio of 59.98.

Lumen Technologies (NYSE:LUMN) last posted its earnings results on Friday, January 27th. The technology company reported $0.49 EPS for the quarter. The business had revenue of $4.05 billion for the quarter. Lumen Technologies had a negative net margin of 13.02% and a negative return on equity of 158.40%. As a group, analysts forecast that Lumen Technologies will post -0.87 earnings per share for the current fiscal 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.