Zacks Research Upgrades Lumen Technologies (NYSE:LUMN) to Strong-Buy

Lumen Technologies (NYSE:LUMN) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Thursday,Zacks.com reports.

Several other equities research analysts have also commented on the stock. The Goldman Sachs Group boosted their target price on shares of Lumen Technologies from $4.10 to $4.60 and gave the stock a “neutral” rating in a research report on Friday, October 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lumen Technologies in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of Lumen Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, November 9th. Citigroup cut shares of Lumen Technologies from a “buy” rating to a “neutral” rating and set a $11.00 target price for the company. in a report on Friday, October 31st. Finally, Royal Bank Of Canada boosted their price target on Lumen Technologies from $4.25 to $8.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 25th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Lumen Technologies currently has a consensus rating of “Hold” and a consensus price target of $6.72.

Lumen Technologies Trading Down 3.1%

Shares of LUMN opened at $7.92 on Thursday. The stock’s 50 day moving average is $8.42 and its two-hundred day moving average is $6.50. Lumen Technologies has a twelve month low of $3.01 and a twelve month high of $11.95. The firm has a market capitalization of $8.12 billion, a PE ratio of -4.80 and a beta of 1.46.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings results on Friday, January 27th. The technology company reported $0.49 EPS for the quarter. Lumen Technologies had a negative return on equity of 158.40% and a negative net margin of 13.02%.The business had revenue of $4.05 billion during the quarter. On average, sell-side analysts predict that Lumen Technologies will post -0.87 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. UMB Bank n.a. lifted its stake in Lumen Technologies by 49.1% in the 3rd quarter. UMB Bank n.a. now owns 4,105 shares of the technology company’s stock valued at $25,000 after buying an additional 1,351 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Lumen Technologies by 132.3% in the second quarter. Farther Finance Advisors LLC now owns 5,954 shares of the technology company’s stock worth $26,000 after acquiring an additional 3,391 shares during the last quarter. MRP Capital Investments LLC lifted its position in shares of Lumen Technologies by 160.0% in the second quarter. MRP Capital Investments LLC now owns 6,500 shares of the technology company’s stock valued at $28,000 after acquiring an additional 4,000 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in shares of Lumen Technologies by 3,527.9% during the second quarter. Caitong International Asset Management Co. Ltd now owns 6,639 shares of the technology company’s stock valued at $29,000 after acquiring an additional 6,456 shares during the last quarter. Finally, Fifth Third Bancorp increased its position in Lumen Technologies by 24.5% during the 3rd quarter. Fifth Third Bancorp now owns 5,343 shares of the technology company’s stock worth $33,000 after purchasing an additional 1,051 shares in the last quarter. 66.19% of the stock is owned by hedge funds and other institutional investors.

About Lumen Technologies

Lumen Technologies is a multinational technology company specializing in integrated network, edge cloud, security and collaboration services for enterprise and public sector clients. The company’s core offerings include high-capacity fiber and IP-based connectivity, managed edge computing solutions designed to accelerate applications and data processing closer to end users, and cybersecurity services ranging from DDoS protection to unified threat management. Through its unified portfolio, Lumen enables organizations to support digital transformation initiatives, modernize infrastructure and enhance operational resilience.

Leveraging one of the largest fiber footprints in North America, as well as infrastructure in Latin America and parts of Europe, Lumen connects customers across more than 60 countries.