Lumen Technologies, Inc. (NYSE:LUMN) Given Average Rating of “Reduce” by Brokerages

Shares of Lumen Technologies, Inc. (NYSE:LUMN) have earned an average rating of “Reduce” from the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating and five have given a hold rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $4.09.

Several brokerages have recently commented on LUMN. TD Cowen lifted their target price on Lumen Technologies from $2.50 to $7.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. raised shares of Lumen Technologies from an “underweight” rating to a “neutral” rating in a research report on Wednesday, August 7th. Citigroup raised shares of Lumen Technologies from a “sell” rating to a “neutral” rating and increased their price objective for the company from $1.25 to $3.15 in a research report on Tuesday, August 6th. UBS Group lifted their target price on shares of Lumen Technologies from $1.50 to $5.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Finally, Bank of America increased their price target on shares of Lumen Technologies from $1.00 to $2.00 and gave the company an “underperform” rating in a report on Thursday, August 8th.

Lumen Technologies Stock Performance

Shares of LUMN opened at $6.74 on Monday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 39.51. Lumen Technologies has a 12 month low of $0.78 and a 12 month high of $7.83. The firm has a fifty day simple moving average of $6.10 and a 200 day simple moving average of $3.14. The stock has a market capitalization of $6.84 billion, a price-to-earnings ratio of -0.62 and a beta of 1.19.

Lumen Technologies (NYSE:LUMN) last released its earnings results on Tuesday, August 6th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.07). The company had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.25 billion. Lumen Technologies had a negative return on equity of 18.52% and a negative net margin of 15.06%. The business’s revenue was down 10.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.10 EPS. Research analysts forecast that Lumen Technologies will post -0.18 EPS for the current fiscal year.

Insider Activity at Lumen Technologies

In related news, Director James Fowler bought 10,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was purchased at an average cost of $4.70 per share, for a total transaction of $47,000.00. Following the transaction, the director now owns 384,056 shares in the company, valued at $1,805,063.20. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.68% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in LUMN. Allspring Global Investments Holdings LLC bought a new position in shares of Lumen Technologies in the 3rd quarter valued at $46,000. AlphaMark Advisors LLC boosted its stake in Lumen Technologies by 1,458.9% in the third quarter. AlphaMark Advisors LLC now owns 77,073 shares of the technology company’s stock valued at $547,000 after buying an additional 72,129 shares in the last quarter. Cornerstone Wealth Management LLC raised its stake in Lumen Technologies by 25.8% during the third quarter. Cornerstone Wealth Management LLC now owns 21,936 shares of the technology company’s stock worth $156,000 after acquiring an additional 4,500 shares in the last quarter. Stableford Capital II LLC bought a new position in shares of Lumen Technologies in the third quarter worth about $71,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Lumen Technologies in the 3rd quarter valued at approximately $318,000. 66.19% of the stock is 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.