Lumen Technologies (NYSE:LUMN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Lumen Technologies (NYSE:LUMN) from a sell rating to a hold rating in a research note released on Sunday.

A number of other analysts have also issued reports on LUMN. Royal Bank Of Canada lifted their price objective on shares of Lumen Technologies from $4.25 to $8.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 25th. Raymond James Financial reaffirmed a “market perform” rating on shares of Lumen Technologies in a report on Wednesday, February 4th. UBS Group boosted their price objective on shares of Lumen Technologies from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. Citigroup decreased their price objective on shares of Lumen Technologies from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Thursday, February 5th. Finally, Zacks Research raised Lumen Technologies from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 8th. 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 company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $7.25.

Lumen Technologies Price Performance

NYSE:LUMN opened at $6.71 on Friday. The business’s 50-day moving average is $7.87 and its two-hundred day moving average is $7.58. The firm has a market capitalization of $6.87 billion, a PE ratio of -3.85 and a beta of 1.56. Lumen Technologies has a 12 month low of $3.01 and a 12 month high of $11.95.

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

Insider Buying and Selling at Lumen Technologies

In related news, CEO Kathleen E. Johnson purchased 78,685 shares of the business’s stock in a transaction that occurred on Thursday, February 5th. The shares were purchased at an average cost of $6.35 per share, with a total value of $499,649.75. Following the completion of the acquisition, the chief executive officer directly owned 8,562,582 shares of the company’s stock, valued at approximately $54,372,395.70. The trade was a 0.93% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Diankha Linear sold 45,000 shares of the 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 transaction, the director owned 198,229 shares in the company, valued at $1,564,026.81. This trade represents a 18.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 2.30% of the company’s stock.

Institutional Trading of Lumen Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of LUMN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Lumen Technologies by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 602,705 shares of the technology company’s stock worth $2,363,000 after acquiring an additional 26,305 shares in the last quarter. Empowered Funds LLC raised its position in shares of Lumen Technologies by 26.8% during the 1st quarter. Empowered Funds LLC now owns 272,031 shares of the technology company’s stock valued at $1,066,000 after acquiring an additional 57,522 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Lumen Technologies by 11.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,985,216 shares of the technology company’s stock worth $11,702,000 after purchasing an additional 300,328 shares during the last quarter. Y Intercept Hong Kong Ltd lifted its stake in Lumen Technologies by 99.8% during the second quarter. Y Intercept Hong Kong Ltd now owns 25,000 shares of the technology company’s stock worth $110,000 after purchasing an additional 12,488 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its holdings in Lumen Technologies by 4.9% in the second quarter. Teacher Retirement System of Texas now owns 147,843 shares of the technology company’s stock worth $648,000 after purchasing an additional 6,883 shares during the period. 66.19% of the stock is 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.