Lumen Technologies (NYSE:LUMN) Stock Rating Lowered by Wall Street Zen

Lumen Technologies (NYSE:LUMN) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

Several other analysts have also issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lumen Technologies in a report on Thursday, January 22nd. The Goldman Sachs Group lifted their price target on Lumen Technologies from $5.50 to $7.25 and gave the company a “neutral” rating in a report on Wednesday, February 4th. UBS Group increased their price objective on Lumen Technologies from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. Raymond James Financial reiterated a “market perform” rating on shares of Lumen Technologies in a research note on Wednesday, February 4th. Finally, Royal Bank Of Canada increased 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. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Lumen Technologies presently has an average rating of “Hold” and an average target price of $7.25.

Lumen Technologies Price Performance

NYSE LUMN opened at $7.09 on Friday. The firm has a market capitalization of $7.26 billion, a price-to-earnings ratio of -4.07 and a beta of 1.56. The company has a 50 day simple moving average of $8.01 and a 200-day simple moving average of $7.47. Lumen Technologies has a 52-week low of $3.01 and a 52-week high of $11.95.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings data on Tuesday, February 3rd. The technology company reported $0.23 earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.44. The firm had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.04 billion. Lumen Technologies had a negative net margin of 14.02% and a negative return on equity of 158.40%. The company’s revenue for the quarter was down 8.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.09 EPS. On average, analysts predict that Lumen Technologies will post -0.87 EPS for the current year.

Insider Buying and Selling

In other news, CEO Kathleen E. Johnson acquired 78,685 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The stock was acquired at an average cost of $6.35 per share, with a total value of $499,649.75. Following the acquisition, the chief executive officer owned 8,562,582 shares in the company, valued at approximately $54,372,395.70. This represents a 0.93% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Diankha Linear sold 45,000 shares of the firm’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $7.89, for a total transaction of $355,050.00. Following the completion of the transaction, the director owned 198,229 shares in the company, valued at $1,564,026.81. The trade was a 18.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Lumen Technologies

Several large investors have recently made changes to their positions in the business. Kemnay Advisory Services Inc. bought a new position in Lumen Technologies in the 4th quarter worth approximately $25,000. International Assets Investment Management LLC acquired a new stake in shares of Lumen Technologies in the fourth quarter worth $30,000. UMB Bank n.a. increased its position in Lumen Technologies by 49.1% during the third quarter. UMB Bank n.a. now owns 4,105 shares of the technology company’s stock worth $25,000 after acquiring an additional 1,351 shares during the period. Los Angeles Capital Management LLC acquired a new position in Lumen Technologies during the 4th quarter valued at $35,000. Finally, Fifth Third Bancorp boosted its holdings in Lumen Technologies by 24.5% in the 3rd quarter. Fifth Third Bancorp now owns 5,343 shares of the technology company’s stock valued at $33,000 after purchasing an additional 1,051 shares during the period. Institutional investors and hedge funds own 66.19% of the company’s stock.

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.