Lumen Technologies (NYSE:LUMN) Shares Down 1.3%

Lumen Technologies, Inc. (NYSE:LUMNGet Free Report)’s share price was down 1.3% during trading on Friday . The company traded as low as $5.06 and last traded at $5.31. Approximately 24,454,658 shares were traded during mid-day trading, an increase of 28% from the average daily volume of 19,171,750 shares. The stock had previously closed at $5.38.

Wall Street Analyst Weigh In

LUMN has been the subject of several research analyst reports. JPMorgan Chase & Co. upgraded Lumen Technologies from an “underweight” rating to a “neutral” rating in a report on Wednesday. The Goldman Sachs Group upgraded Lumen Technologies from a “sell” rating to a “neutral” rating and boosted their price target for the company from $1.00 to $4.00 in a research note on Wednesday. Bank of America raised their price objective on shares of Lumen Technologies from $1.00 to $2.00 and gave the stock an “underperform” rating in a report on Thursday. Moffett Nathanson upped their target price on shares of Lumen Technologies from $1.00 to $3.00 and gave the company a “sell” rating in a report on Wednesday. Finally, TD Cowen boosted their price objective on shares of Lumen Technologies from $2.50 to $7.00 and gave the company a “hold” rating in a research report on Wednesday. Three research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat, Lumen Technologies currently has an average rating of “Hold” and a consensus target price of $3.53.

View Our Latest Stock Analysis on LUMN

Lumen Technologies Stock Up 3.9 %

The business has a 50-day moving average of $1.67 and a 200 day moving average of $1.52. The company has a market capitalization of $5.67 billion, a PE ratio of -0.52 and a beta of 1.14. The company has a debt-to-equity ratio of 36.89, a current ratio of 1.03 and a quick ratio of 1.03.

Lumen Technologies (NYSE:LUMNGet Free Report) last issued its quarterly earnings data 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). Lumen Technologies had a positive return on equity of 4.06% and a negative net margin of 76.21%. The firm had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.25 billion. During the same period last year, the company earned $0.10 earnings per share. The firm’s revenue was down 10.7% on a year-over-year basis. Equities research analysts predict that Lumen Technologies, Inc. will post -0.23 earnings per share for the current year.

Institutional Trading of Lumen Technologies

Hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its position in Lumen Technologies by 28.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 26,304,001 shares of the technology company’s stock valued at $48,136,000 after purchasing an additional 5,782,249 shares during the period. Palestra Capital Management LLC raised its holdings in Lumen Technologies by 71.0% during the 4th quarter. Palestra Capital Management LLC now owns 11,167,585 shares of the technology company’s stock valued at $20,437,000 after buying an additional 4,637,585 shares during the period. Front Street Capital Management Inc. boosted its stake in Lumen Technologies by 30.9% during the first quarter. Front Street Capital Management Inc. now owns 8,963,689 shares of the technology company’s stock worth $13,983,000 after buying an additional 2,114,866 shares during the period. Vanguard Group Inc. increased its position in Lumen Technologies by 1.7% during the first quarter. Vanguard Group Inc. now owns 120,303,220 shares of the technology company’s stock valued at $187,673,000 after acquiring an additional 1,975,400 shares during the last quarter. Finally, Federated Hermes Inc. raised its stake in shares of Lumen Technologies by 798.6% in the fourth quarter. Federated Hermes Inc. now owns 1,438,386 shares of the technology company’s stock valued at $2,632,000 after acquiring an additional 1,278,319 shares during the period. 66.19% of the stock is currently owned by hedge funds and other institutional investors.

About Lumen Technologies

(Get Free Report)

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.

Further Reading

Receive News & Ratings for Lumen Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lumen Technologies and related companies with MarketBeat.com's FREE daily email newsletter.