Analysts Set Lumen Technologies, Inc. (NYSE:LUMN) Price Target at $5.39

Lumen Technologies, Inc. (NYSE:LUMN) has been given a consensus recommendation of “Hold” by the seven brokerages that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $5.97.

Several equities research analysts have commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lumen Technologies in a report on Wednesday, October 8th. Wall Street Zen cut shares of Lumen Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Citigroup lowered shares of Lumen Technologies from a “buy” rating to a “neutral” rating and set a $11.00 price objective for the company. in a research note on Friday, October 31st. The Goldman Sachs Group boosted their target price on shares of Lumen Technologies from $4.10 to $4.60 and gave the company a “neutral” rating in a report on Friday, October 3rd. Finally, Raymond James Financial raised their price target on Lumen Technologies from $4.50 to $5.00 and gave the stock an “outperform” rating in a report on Friday, August 1st.

Insiders Place Their Bets

In related news, CFO Christopher Stansbury purchased 42,000 shares of the firm’s stock in a transaction dated Thursday, August 14th. The shares were purchased at an average cost of $4.29 per share, for a total transaction of $180,180.00. Following the completion of the transaction, the chief financial officer directly owned 518,000 shares in the company, valued at approximately $2,222,220. This represents a 8.82% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 2.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Lumen Technologies

Several hedge funds have recently bought and sold shares of LUMN. Norges Bank bought a new position in Lumen Technologies in the 2nd quarter valued at $47,923,000. Nuveen LLC purchased a new stake in shares of Lumen Technologies in the first quarter worth $26,469,000. Invesco Ltd. boosted its stake in Lumen Technologies by 91.6% during the first quarter. Invesco Ltd. now owns 10,276,782 shares of the technology company’s stock valued at $40,285,000 after buying an additional 4,911,803 shares during the period. Curi Capital LLC purchased a new position in Lumen Technologies during the second quarter worth about $14,144,000. Finally, Vaughan Nelson Investment Management L.P. bought a new position in Lumen Technologies in the 3rd quarter worth about $18,439,000. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Lumen Technologies Price Performance

Lumen Technologies stock opened at $10.89 on Friday. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 59.98. The business’s 50 day simple moving average is $6.98 and its 200 day simple moving average is $5.14. Lumen Technologies has a 12 month low of $3.01 and a 12 month high of $11.95. The company has a market cap of $11.17 billion, a price-to-earnings ratio of -9.23 and a beta of 1.45.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings results on Friday, January 27th. The technology company reported $0.49 EPS for the quarter. The firm had revenue of $4.05 billion for the quarter. Lumen Technologies had a negative return on equity of 158.40% and a negative net margin of 9.19%. Sell-side analysts forecast that Lumen Technologies will post -0.87 EPS for the current 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.