Lumos Networks Corp. (NASDAQ:LMOS) Posts Earnings Results, Beats Expectations By $0.01 EPS
Lumos Networks Corp. (NASDAQ:LMOS) announced its quarterly earnings data on Monday. The utilities provider reported $0.02 EPS for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.01, MarketWatch Earnings reports. The business had revenue of $56.37 million during the quarter, compared to the consensus estimate of $55.33 million. Lumos Networks Corp. had a negative return on equity of 2.79% and a negative net margin of 1.70%.
Shares of Lumos Networks Corp. (NASDAQ:LMOS) remained flat at $17.89 on Wednesday. 13,071 shares of the company’s stock were exchanged. Lumos Networks Corp. has a 52-week low of $12.56 and a 52-week high of $17.99. The firm’s market capitalization is $428.36 million. The stock has a 50-day moving average of $17.88 and a 200 day moving average of $17.44.
LMOS has been the subject of a number of recent analyst reports. Zacks Investment Research raised Lumos Networks Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. BidaskClub downgraded 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, three have assigned a hold rating and two have assigned a buy rating to the stock. Lumos Networks Corp. currently has an average rating of “Hold” and an average target price of $19.25.
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Several institutional investors have recently bought and sold shares of LMOS. Parametric Portfolio Associates LLC increased its position in Lumos Networks Corp. by 18.4% in the first quarter. Parametric Portfolio Associates LLC now owns 57,726 shares of the utilities provider’s stock worth $1,022,000 after buying an additional 8,954 shares during the period. Ameriprise Financial Inc. increased its position in Lumos Networks Corp. by 4.2% in the first quarter. Ameriprise Financial Inc. now owns 124,053 shares of the utilities provider’s stock worth $2,196,000 after buying an additional 5,042 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in Lumos Networks Corp. during the first quarter worth $413,000. Gabelli Funds LLC increased its position in Lumos Networks Corp. by 257.8% in the first quarter. Gabelli Funds LLC now owns 42,935 shares of the utilities provider’s stock worth $760,000 after buying an additional 30,935 shares during the period. Finally, Comerica Bank increased its position in Lumos Networks Corp. by 4.2% in the first quarter. Comerica Bank now owns 25,803 shares of the utilities provider’s stock worth $462,000 after buying an additional 1,048 shares during the period. 84.04% of the stock is currently owned by institutional investors and hedge funds.
Lumos Networks Corp. Company Profile
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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