Lumen Technologies’ (LUMN) Sector Perform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada restated their sector perform rating on shares of Lumen Technologies (NYSE:LUMN) in a research report sent to investors on Monday morning,Benzinga reports. They currently have a $4.25 price target on the technology company’s stock.

A number of other analysts have also recently weighed in on LUMN. TD Cowen reduced their price objective on shares of Lumen Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Wednesday, November 6th. Citigroup boosted their target price on shares of Lumen Technologies from $6.50 to $8.00 and gave the stock a “neutral” rating in a research report on Friday, November 29th. Finally, The Goldman Sachs Group raised their price target on Lumen Technologies from $4.50 to $5.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Three analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $4.66.

Lumen Technologies Stock Down 0.3 %

LUMN stock opened at $4.98 on Monday. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 37.70. The firm has a market cap of $5.05 billion, a PE ratio of -99.48 and a beta of 1.28. Lumen Technologies has a 1 year low of $0.97 and a 1 year high of $10.33. The company has a fifty day simple moving average of $5.67 and a 200 day simple moving average of $6.10.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.14. Lumen Technologies had a negative return on equity of 46.17% and a negative net margin of 0.42%. Sell-side analysts anticipate that Lumen Technologies will post -0.79 EPS for the current fiscal year.

Institutional Trading of Lumen Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the company. Polianta Ltd acquired a new stake in Lumen Technologies during the fourth quarter worth $692,000. Mariner Investment Group LLC acquired a new stake in shares of Lumen Technologies during the 4th quarter valued at about $531,000. Crossmark Global Holdings Inc. bought a new stake in Lumen Technologies in the third quarter valued at about $433,000. Quantbot Technologies LP bought a new position in Lumen Technologies during the third quarter worth about $733,000. Finally, Congress Asset Management Co. acquired a new stake in Lumen Technologies during the third quarter valued at approximately $2,592,000. 66.19% of the stock is currently owned by institutional investors.

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.