Lumen Technologies, Inc. (NYSE:LUMN) Receives $6.72 Consensus PT from Brokerages

Lumen Technologies, Inc. (NYSE:LUMN) has been assigned a consensus rating of “Hold” from the eight brokerages that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $6.72.

A number of research firms recently commented on LUMN. Citigroup lowered Lumen Technologies from a “buy” rating to a “neutral” rating and set a $11.00 price target for the company. in a research report on Friday, October 31st. The Goldman Sachs Group lifted their price objective on Lumen Technologies from $4.10 to $4.60 and gave the stock a “neutral” rating in a report on Friday, October 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Lumen Technologies in a report on Wednesday, October 8th. Wall Street Zen raised Lumen Technologies from a “sell” rating to a “hold” rating in a report on Sunday, November 9th. Finally, Zacks Research upgraded Lumen Technologies from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 8th.

Institutional Trading of Lumen Technologies

A number of hedge funds have recently modified their holdings of LUMN. UMB Bank n.a. grew its holdings in shares of Lumen Technologies by 49.1% in the third quarter. UMB Bank n.a. now owns 4,105 shares of the technology company’s stock valued at $25,000 after purchasing an additional 1,351 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of Lumen Technologies by 24.5% during the 3rd quarter. Fifth Third Bancorp now owns 5,343 shares of the technology company’s stock worth $33,000 after purchasing an additional 1,051 shares during the period. Farther Finance Advisors LLC grew its holdings in Lumen Technologies by 132.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 5,954 shares of the technology company’s stock valued at $26,000 after purchasing an additional 3,391 shares during the last quarter. MRP Capital Investments LLC lifted its stake in Lumen Technologies by 160.0% in the second quarter. MRP Capital Investments LLC now owns 6,500 shares of the technology company’s stock worth $28,000 after purchasing an additional 4,000 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its position in shares of Lumen Technologies by 3,527.9% during the second quarter. Caitong International Asset Management Co. Ltd now owns 6,639 shares of the technology company’s stock valued at $29,000 after buying an additional 6,456 shares during the period. Institutional investors own 66.19% of the company’s stock.

Lumen Technologies Stock Down 2.2%

Lumen Technologies stock opened at $8.46 on Wednesday. The business’s 50-day moving average price is $8.16 and its two-hundred day moving average price is $6.67. The stock has a market cap of $8.68 billion, a PE ratio of -5.13 and a beta of 1.46. Lumen Technologies has a 12-month low of $3.01 and a 12-month high of $11.95.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings results on Thursday, October 30th. The technology company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.11. The firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.04 billion. Lumen Technologies had a negative net margin of 13.02% and a negative return on equity of 158.40%. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.13) earnings per share. As a group, analysts expect that Lumen Technologies will post -0.87 earnings per share for the current year.

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.