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

Lumen Technologies, Inc. (NYSE:LUMN) has earned an average recommendation of “Reduce” from the nine analysts that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation and seven have issued a hold recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $4.78.

Several equities analysts have recently issued reports on the stock. TD Cowen cut their price objective on shares of Lumen Technologies from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Wednesday, November 6th. The Goldman Sachs Group upped their price objective on shares of Lumen Technologies from $4.50 to $5.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Royal Bank of Canada restated a “sector perform” rating and set a $4.25 price objective on shares of Lumen Technologies in a report on Monday, February 10th. Wells Fargo & Company upgraded shares of Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 price objective on the stock in a report on Friday. Finally, Citigroup upped their price objective on shares of Lumen Technologies from $6.50 to $8.00 and gave the company a “neutral” rating in a report on Friday, November 29th.

Hedge Funds Weigh In On Lumen Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the business. Concord Wealth Partners increased its holdings in Lumen Technologies by 98.8% in the 3rd quarter. Concord Wealth Partners now owns 4,008 shares of the technology company’s stock worth $28,000 after buying an additional 1,992 shares during the period. Legacy Investment Solutions LLC purchased a new stake in Lumen Technologies in the 3rd quarter worth approximately $30,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Lumen Technologies in the 3rd quarter worth approximately $36,000. Smartleaf Asset Management LLC boosted its position in Lumen Technologies by 173.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 6,745 shares of the technology company’s stock worth $36,000 after purchasing an additional 4,277 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its position in Lumen Technologies by 3,825.7% in the 4th quarter. Lazard Asset Management LLC now owns 7,498 shares of the technology company’s stock worth $39,000 after purchasing an additional 7,307 shares in the last quarter. Institutional investors and hedge funds own 66.19% of the company’s stock.

Lumen Technologies Stock Performance

Shares of Lumen Technologies stock opened at $4.68 on Friday. The company has a market capitalization of $4.74 billion, a PE ratio of -93.48 and a beta of 1.28. The company has a debt-to-equity ratio of 37.70, a quick ratio of 1.20 and a current ratio of 1.21. The company has a 50-day simple moving average of $5.34 and a two-hundred day simple moving average of $6.19. Lumen Technologies has a one year low of $0.97 and a one year high of $10.33.

Lumen Technologies (NYSE:LUMN) last announced its earnings results on Tuesday, February 4th. The technology company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.14. Lumen Technologies had a negative net margin of 0.42% and a negative return on equity of 46.17%. Research analysts expect that Lumen Technologies will post -0.87 EPS 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.