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

Lumen Technologies, Inc. (NYSE:LUMN) has earned a consensus recommendation of “Hold” from the nine ratings firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $6.8750.

Several equities research analysts recently weighed in on LUMN shares. UBS Group boosted their target price on Lumen Technologies from $5.00 to $6.00 and gave the stock a “neutral” rating in a research note on Thursday, February 5th. Citigroup reduced their price objective on shares of Lumen Technologies from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Thursday, February 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Lumen Technologies in a report on Thursday, January 22nd. Royal Bank Of Canada lifted their price target on shares of Lumen Technologies from $4.25 to $8.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 25th. Finally, The Goldman Sachs Group raised their price objective on Lumen Technologies from $5.50 to $7.25 and gave the stock a “neutral” rating in a report on Wednesday, February 4th.

Insider Buying and Selling

In other news, CEO Kathleen E. Johnson acquired 78,685 shares of Lumen Technologies stock in a transaction on Thursday, February 5th. The stock was bought at an average price of $6.35 per share, for a total transaction of $499,649.75. Following the completion of the purchase, the chief executive officer owned 8,562,582 shares in the company, valued at $54,372,395.70. This represents a 0.93% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.30% of the stock is currently owned by company insiders.

Institutional Trading of Lumen Technologies

Several institutional investors and hedge funds have recently bought and sold shares of LUMN. Vanguard Group Inc. boosted its stake in Lumen Technologies by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 113,552,549 shares of the technology company’s stock worth $694,942,000 after purchasing an additional 1,295,177 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Lumen Technologies by 324.7% during the fourth quarter. JPMorgan Chase & Co. now owns 22,211,742 shares of the technology company’s stock worth $172,585,000 after purchasing an additional 16,981,326 shares during the last quarter. Norges Bank acquired a new stake in shares of Lumen Technologies during the fourth quarter worth $106,557,000. Front Street Capital Management Inc. grew its position in Lumen Technologies by 1.1% in the 2nd quarter. Front Street Capital Management Inc. now owns 11,969,084 shares of the technology company’s stock valued at $52,425,000 after buying an additional 132,131 shares during the last quarter. Finally, Man Group plc increased its stake in Lumen Technologies by 3.3% in the 2nd quarter. Man Group plc now owns 11,486,835 shares of the technology company’s stock valued at $50,312,000 after buying an additional 364,436 shares during the period. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Lumen Technologies Trading Up 1.7%

Lumen Technologies stock opened at $7.99 on Friday. The company has a fifty day simple moving average of $8.12 and a 200-day simple moving average of $7.14. The stock has a market cap of $8.19 billion, a P/E ratio of -4.59 and a beta of 1.51. Lumen Technologies has a 12-month low of $3.01 and a 12-month high of $11.95.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings results on Tuesday, February 3rd. The technology company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.44. The company had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.04 billion. Lumen Technologies had a negative return on equity of 158.40% and a negative net margin of 14.02%.Lumen Technologies’s quarterly revenue was down 8.7% on a year-over-year basis. During the same period last year, the firm earned $0.09 earnings per share. As a group, sell-side analysts forecast that Lumen Technologies will post -0.87 earnings per share for the current fiscal year.

Lumen Technologies Company Profile

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.