Lumen Technologies (NYSE:LUMN) Stock Gets Price Target Cut from TD Cowen

Lumen Technologies (NYSE:LUMN) had its price target lowered by equities research analysts at TD Cowen from $9.00 to $8.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “hold” rating on the technology company’s stock. TD Cowen‘s target price would suggest a potential upside of 101.01% from the company’s current price.

A number of other equities research analysts have also weighed in on LUMN. Weiss Ratings reissued a “sell (d-)” rating on shares of Lumen Technologies in a report on Friday, July 17th. Wall Street Zen raised shares of Lumen Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, August 9th. Citigroup cut their price target on shares of Lumen Technologies from $10.00 to $8.25 and set a “neutral” rating on the stock in a report on Tuesday, August 11th. The Goldman Sachs Group reduced their price objective on shares of Lumen Technologies from $7.25 to $5.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, Moffett Nathanson upgraded Lumen Technologies from a “sell” rating to a “neutral” rating and set a $4.00 price objective for the company in a report on Friday, October 30th. Ten analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Lumen Technologies has a consensus rating of “Reduce” and an average price target of $6.66.

Lumen Technologies Stock Performance

Shares of NYSE:LUMN traded down $0.49 during midday trading on Thursday, hitting $3.98. 25,206,494 shares of the stock were exchanged, compared to its average volume of 13,705,100. The business’s 50-day moving average price is $5.66 and its 200 day moving average price is $7.19. Lumen Technologies has a 12 month low of $3.84 and a 12 month high of $11.43. The stock has a market capitalization of $4.10 billion, a price-to-earnings ratio of -3.90 and a beta of 1.94.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings data on Wednesday, November 4th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.09. The business had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.73 billion. As a group, sell-side analysts expect that Lumen Technologies will post -0.54 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of LUMN. New York Life Investment Management LLC acquired a new stake in shares of Lumen Technologies during the third quarter worth $785,000. Penn Capital Management Company LLC raised its stake in Lumen Technologies by 6.8% during the third quarter. Penn Capital Management Company LLC now owns 2,719,257 shares of the technology company’s stock worth $15,257,000 after buying an additional 172,254 shares during the last quarter. Fulcrum Asset Management LLP raised its stake in Lumen Technologies by 266.8% during the third quarter. Fulcrum Asset Management LLP now owns 151,727 shares of the technology company’s stock worth $841,000 after buying an additional 110,367 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Lumen Technologies by 9.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 35,097 shares of the technology company’s stock valued at $196,000 after buying an additional 3,009 shares during the period. Finally, Ethic Inc. lifted its holdings in Lumen Technologies by 103.3% in the third quarter. Ethic Inc. now owns 49,878 shares of the technology company’s stock valued at $279,000 after buying an additional 25,340 shares during the period. Institutional investors and hedge funds own 66.19% of the company’s stock.

Key Stories Impacting Lumen Technologies

Here are the key news stories impacting Lumen Technologies this week:

• Positive Sentiment: Strategic revenue grew about 10% and now accounts for 55% of business revenue, supported by AI demand and adoption of Lumen’s Network-as-a-Service platform. Why Lumen Technologies Sank Today
• Positive Sentiment: Adjusted loss of $0.14 per share was better than analyst expectations, and Lumen reaffirmed its full-year adjusted EBITDA guidance. Lumen Q3 Earnings Call Highlights
• Negative Sentiment: Revenue was about $2.71 billion, below the roughly $2.73 billion consensus estimate, while overall sales declined year over year. The shortfall underscored ongoing pressure in Lumen’s legacy business. Lumen Reports Q3 Loss, Lags Revenue Estimates
• Negative Sentiment: Free cash flow turned negative in the quarter, adding to investor concerns despite the strategic-revenue gains and reaffirmed EBITDA outlook. Lumen Q3 Earnings Call Highlights
• Negative Sentiment: Goldman Sachs and Wells Fargo each cut their price target to $5, while maintaining neutral or equal-weight ratings—signaling reduced expectations for the shares. Goldman Sachs rating information Wells Fargo rating information

Lumen Technologies Company Profile

Lumen Technologies, Inc is a communications and technology company that provides network, connectivity, cloud, cybersecurity and managed services primarily to businesses, government organizations and wholesale customers. Its offerings include fiber-based internet and data transport, software-defined networking, network security, unified communications, voice services, edge computing and related information technology solutions.

The company operates one of the largest enterprise fiber networks in the United States and also serves customers internationally through its global network and wholesale operations.