Lumen Technologies (NYSE:LUMN) Earns Sell Rating from Analysts at The Goldman Sachs Group

The Goldman Sachs Group initiated coverage on shares of Lumen Technologies (NYSE:LUMN) in a report issued on Monday, MarketBeat reports. The firm set a “sell” rating and a $1.00 price target on the technology company’s stock. The Goldman Sachs Group’s target price suggests a potential downside of 9.09% from the company’s current price.

Lumen Technologies Price Performance

Shares of NYSE LUMN opened at $1.10 on Monday. The company has a 50 day moving average of $1.23 and a 200 day moving average of $1.45. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 36.89. Lumen Technologies has a twelve month low of $0.78 and a twelve month high of $2.34. The firm has a market cap of $1.12 billion, a P/E ratio of -0.10 and a beta of 1.15.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings data on Tuesday, April 30th. The technology company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.01). The company had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.38 billion. Lumen Technologies had a negative net margin of 76.21% and a positive return on equity of 4.06%. The firm’s revenue for the quarter was down 12.0% on a year-over-year basis. During the same quarter last year, the company earned $0.10 EPS. As a group, research analysts expect that Lumen Technologies will post -0.16 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Kathleen E. Johnson bought 750,000 shares of Lumen Technologies stock in a transaction dated Thursday, May 2nd. The shares were purchased at an average cost of $1.28 per share, with a total value of $960,000.00. Following the completion of the acquisition, the chief executive officer now owns 7,756,290 shares of the company’s stock, valued at approximately $9,928,051.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.68% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lumen Technologies

A number of hedge funds have recently added to or reduced their stakes in LUMN. Strategies Wealth Advisors LLC acquired a new stake in Lumen Technologies in the fourth quarter valued at approximately $26,000. Brighton Jones LLC acquired a new position in Lumen Technologies during the 4th quarter valued at about $27,000. HighPoint Advisor Group LLC purchased a new stake in Lumen Technologies in the fourth quarter valued at about $27,000. Fidelis Capital Partners LLC raised its stake in Lumen Technologies by 94.6% in the first quarter. Fidelis Capital Partners LLC now owns 22,142 shares of the technology company’s stock valued at $35,000 after buying an additional 10,764 shares during the last quarter. Finally, Guardian Capital LP boosted its holdings in Lumen Technologies by 53.5% in the fourth quarter. Guardian Capital LP now owns 22,145 shares of the technology company’s stock worth $41,000 after acquiring an additional 7,717 shares in the last quarter. 66.19% of the stock is currently owned by institutional investors.

Lumen Technologies Company Profile

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.