Lumen Technologies (NYSE:LUMN) Raised to Strong-Buy at Zacks Research

Lumen Technologies (NYSE:LUMN) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Thursday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the company. Citigroup cut Lumen Technologies from a “buy” rating to a “neutral” rating and set a $11.00 target price on the stock. in a report on Friday, October 31st. Weiss Ratings reissued a “sell (d-)” rating on shares of Lumen Technologies in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of Lumen Technologies from a “sell” rating to a “hold” rating in a report on Sunday, November 9th. Royal Bank Of Canada increased their target price on shares of Lumen Technologies from $4.25 to $8.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 25th. Finally, The Goldman Sachs Group lifted their price target on shares of Lumen Technologies from $4.10 to $4.60 and gave the stock a “neutral” rating in a research report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Lumen Technologies currently has an average rating of “Hold” and a consensus target price of $6.72.

Lumen Technologies Stock Performance

Shares of LUMN stock opened at $7.92 on Thursday. The firm’s 50 day moving average price is $8.42 and its two-hundred day moving average price is $6.50. Lumen Technologies has a 52-week low of $3.01 and a 52-week high of $11.95. The stock has a market cap of $8.12 billion, a PE ratio of -4.80 and a beta of 1.46.

Lumen Technologies (NYSE:LUMN) last issued its earnings results on Friday, January 27th. The technology company reported $0.49 EPS for the quarter. Lumen Technologies had a negative net margin of 13.02% and a negative return on equity of 158.40%. The company had revenue of $4.05 billion during the quarter. As a group, sell-side analysts predict that Lumen Technologies will post -0.87 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lumen Technologies

Several institutional investors have recently bought and sold shares of LUMN. UMB Bank n.a. grew its stake in shares of Lumen Technologies by 49.1% during the 3rd quarter. UMB Bank n.a. now owns 4,105 shares of the technology company’s stock worth $25,000 after acquiring an additional 1,351 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Lumen Technologies by 132.3% during the second quarter. Farther Finance Advisors LLC now owns 5,954 shares of the technology company’s stock worth $26,000 after purchasing an additional 3,391 shares during the last quarter. MRP Capital Investments LLC boosted its holdings in Lumen Technologies by 160.0% during 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. Caitong International Asset Management Co. Ltd grew its position in Lumen Technologies by 3,527.9% in 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 purchasing an additional 6,456 shares in the last quarter. Finally, Fifth Third Bancorp increased its stake in Lumen Technologies by 24.5% in the 3rd quarter. Fifth Third Bancorp now owns 5,343 shares of the technology company’s stock valued at $33,000 after buying an additional 1,051 shares during the last quarter. Institutional investors own 66.19% of the company’s stock.

Lumen Technologies Company Profile

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.