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

Shares of Lumen Technologies, Inc. (NYSE:LUMN) have received a consensus recommendation of “Reduce” from the eight brokerages that are covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $4.02.

Several equities analysts recently issued reports on LUMN shares. The Goldman Sachs Group upgraded Lumen Technologies from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $1.00 to $4.00 in a research note on Wednesday, August 7th. UBS Group boosted their price objective on shares of Lumen Technologies from $1.50 to $5.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Bank of America raised their target price on shares of Lumen Technologies from $1.00 to $2.00 and gave the stock an “underperform” rating in a report on Thursday, August 8th. TD Cowen upped their target price on Lumen Technologies from $2.50 to $7.00 and gave the company a “hold” rating in a report on Wednesday, August 7th. Finally, Moffett Nathanson boosted their price objective on Lumen Technologies from $1.00 to $3.00 and gave the company a “sell” rating in a research report on Wednesday, August 7th.

Insider Buying and Selling

In other Lumen Technologies news, Director James Fowler purchased 10,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average cost of $4.70 per share, with a total value of $47,000.00. Following the completion of the acquisition, the director now owns 384,056 shares of the company’s stock, valued at $1,805,063.20. The purchase was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.68% of the company’s stock.

Institutional Trading of Lumen Technologies

Institutional investors have recently modified their holdings of the company. HighPoint Advisor Group LLC acquired a new stake in Lumen Technologies during the fourth quarter valued at approximately $27,000. Sanctuary Advisors LLC acquired a new stake in shares of Lumen Technologies during the 2nd quarter valued at $25,000. Fidelis Capital Partners LLC boosted its stake in shares of Lumen Technologies by 94.6% during the 1st quarter. Fidelis Capital Partners LLC now owns 22,142 shares of the technology company’s stock worth $35,000 after acquiring an additional 10,764 shares in the last quarter. Sawgrass Asset Management LLC grew its holdings in shares of Lumen Technologies by 68.5% in the 2nd quarter. Sawgrass Asset Management LLC now owns 22,786 shares of the technology company’s stock worth $25,000 after acquiring an additional 9,263 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd acquired a new stake in shares of Lumen Technologies during the second quarter worth $26,000. Institutional investors and hedge funds own 66.19% of the company’s stock.

Lumen Technologies Trading Down 0.5 %

NYSE LUMN opened at $7.16 on Thursday. The company’s fifty day moving average price is $4.87 and its two-hundred day moving average price is $2.55. The company has a market capitalization of $7.28 billion, a price-to-earnings ratio of -0.65 and a beta of 1.18. Lumen Technologies has a 12 month low of $0.78 and a 12 month high of $7.83. The company has a debt-to-equity ratio of 39.51, a current ratio of 1.01 and a quick ratio of 1.01.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings results on Tuesday, August 6th. The technology company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.07). Lumen Technologies had a negative return on equity of 18.52% and a negative net margin of 15.06%. The firm had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.25 billion. During the same quarter last year, the business posted $0.10 earnings per share. The firm’s revenue for the quarter was down 10.7% on a year-over-year basis. As a group, research analysts predict that Lumen Technologies will post -0.17 earnings per share for the current fiscal year.

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.