Equities research analysts forecast that Lumos Networks Corp. (NASDAQ:LMOS) will report $55.33 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Lumos Networks Corp.’s earnings, with the highest sales estimate coming in at $55.86 million and the lowest estimate coming in at $54.80 million. Lumos Networks Corp. reported sales of $52.45 million during the same quarter last year, which would suggest a positive year over year growth rate of 5.5%. The firm is scheduled to announce its next earnings report before the market opens on Monday, August 7th.
According to Zacks, analysts expect that Lumos Networks Corp. will report full year sales of $55.33 million for the current fiscal year, with estimates ranging from $219.30 million to $222.15 million. For the next financial year, analysts expect that the business will post sales of $224.13 million per share, with estimates ranging from $220.70 million to $227.55 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Lumos Networks Corp..
Lumos Networks Corp. (NASDAQ:LMOS) last posted its quarterly earnings results on Monday, May 8th. The utilities provider reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by $0.38. Lumos Networks Corp. had a negative return on equity of 2.29% and a negative net margin of 1.39%. The firm had revenue of $54.92 million for the quarter, compared to the consensus estimate of $53.06 million.
LMOS has been the subject of several analyst reports. Zacks Investment Research cut Lumos Networks Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, May 10th. BidaskClub cut Lumos Networks Corp. from a “hold” rating to a “sell” rating in a research report on Thursday, July 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $19.25.
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Several institutional investors have recently modified their holdings of the company. Comerica Bank increased its position in shares of Lumos Networks Corp. by 5.0% in the fourth quarter. Comerica Bank now owns 24,755 shares of the utilities provider’s stock worth $405,000 after buying an additional 1,175 shares during the period. State Street Corp boosted its stake in shares of Lumos Networks Corp. by 8.4% in the fourth quarter. State Street Corp now owns 434,209 shares of the utilities provider’s stock worth $6,785,000 after buying an additional 33,740 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Lumos Networks Corp. by 5.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,182,237 shares of the utilities provider’s stock worth $18,467,000 after buying an additional 64,402 shares during the period. Thrivent Financial for Lutherans boosted its stake in shares of Lumos Networks Corp. by 5.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 12,680 shares of the utilities provider’s stock worth $198,000 after buying an additional 700 shares during the period. Finally, Teachers Advisors LLC boosted its stake in shares of Lumos Networks Corp. by 2.0% in the fourth quarter. Teachers Advisors LLC now owns 35,267 shares of the utilities provider’s stock worth $551,000 after buying an additional 684 shares during the period. 85.62% of the stock is owned by institutional investors and hedge funds.
Lumos Networks Corp. (LMOS) traded up 0.06% during trading on Wednesday, hitting $17.91. The stock had a trading volume of 90,197 shares. Lumos Networks Corp. has a one year low of $10.88 and a one year high of $17.99. The firm has a 50 day moving average of $17.88 and a 200-day moving average of $17.38. The company’s market cap is $428.84 million.
About Lumos Networks Corp.
Lumos Networks Corp. is a fiber-based bandwidth infrastructure and service provider in the Mid-Atlantic region with a network of long-haul fiber, metro Ethernet and Ethernet rings located primarily in Virginia and West Virginia, and portions of Maryland, Pennsylvania, Ohio and Kentucky. The Company serves carrier, business and residential customers over its fiber network offering data, voice and Internet protocol (IP) services.
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