Lumen Technologies, Inc. (NYSE:LUMN) Receives Consensus Recommendation of “Reduce” from Analysts

Shares of Lumen Technologies, Inc. (NYSE:LUMN) have been assigned an average recommendation of “Reduce” from the eleven research firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating and ten have issued a hold rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $7.9063.

Several research analysts have recently commented on the company. JPMorgan Chase & Co. lifted their target price on Lumen Technologies from $6.00 to $7.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. UBS Group lifted their target price on shares of Lumen Technologies from $6.00 to $8.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Wall Street Zen raised shares of Lumen Technologies from a “sell” rating to a “hold” rating in a report on Sunday, May 3rd. Zacks Research downgraded shares of Lumen Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 5th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lumen Technologies in a report on Tuesday, April 21st.

Lumen Technologies Trading Down 3.6%

Shares of NYSE LUMN opened at $8.13 on Friday. Lumen Technologies has a 12 month low of $3.37 and a 12 month high of $11.95. The stock has a 50 day moving average of $8.99 and a 200-day moving average of $8.17. The company has a market capitalization of $8.37 billion, a P/E ratio of -4.67 and a beta of 1.70.

Lumen Technologies (NYSE:LUMN) last issued its earnings results on Tuesday, May 5th. The technology company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.34). The firm had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.83 billion. During the same period in the prior year, the company earned ($0.13) EPS. The company’s revenue for the quarter was down 8.9% compared to the same quarter last year. Analysts predict that Lumen Technologies will post -0.39 EPS for the current fiscal year.

Institutional Trading of Lumen Technologies

Institutional investors have recently added to or reduced their stakes in the company. Kemnay Advisory Services Inc. bought a new stake in Lumen Technologies in the 4th quarter valued at $25,000. Ascentis Independent Advisors bought a new stake in Lumen Technologies in the 1st quarter valued at $27,000. International Assets Investment Management LLC bought a new stake in Lumen Technologies in the 4th quarter valued at about $30,000. 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. Finally, Los Angeles Capital Management LLC bought a new stake in Lumen Technologies in the 4th quarter valued at about $35,000. 66.19% of the stock is currently owned by 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.