Lumen Technologies, Inc. (NYSE:LUMN) Stock Now Rated “Reduce” by Wall Street Analysts

Lumen Technologies, Inc. (NYSE:LUMN) has received a consensus rating of “Reduce” from the ten ratings firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and nine have assigned a hold recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $7.86.

LUMN has been the subject of several analyst reports. Citigroup lowered their target price on Lumen Technologies from $10.00 to $8.25 and set a “neutral” rating for the company in a research report on Tuesday, August 11th. Wells Fargo & Company reduced their target price on Lumen Technologies from $9.00 to $7.50 and set an “equal weight” rating on the stock in a report on Wednesday, August 5th. Wall Street Zen raised shares of Lumen Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, August 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Lumen Technologies in a report on Friday, July 17th. Finally, The Goldman Sachs Group lowered their target price on shares of Lumen Technologies from $8.50 to $7.25 and set a “neutral” rating for the company in a research note on Wednesday, August 5th.

Insider Activity at Lumen Technologies

In other Lumen Technologies news, CEO Kathleen Johnson purchased 100,000 shares of the firm’s stock in a transaction on Thursday, August 6th. The stock was acquired at an average price of $6.13 per share, for a total transaction of $613,000.00. Following the purchase, the chief executive officer owned 100,000 shares of the company’s stock, valued at $613,000. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lumen Technologies

Several large investors have recently bought and sold shares of the stock. Envestnet Portfolio Solutions Inc. increased its stake in Lumen Technologies by 2.5% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 122,070 shares of the technology company’s stock worth $937,000 after purchasing an additional 2,936 shares during the period. Envestnet Asset Management Inc. grew its holdings in Lumen Technologies by 55.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 65,258 shares of the technology company’s stock worth $501,000 after acquiring an additional 23,259 shares during the last quarter. State Street Corp increased its position in shares of Lumen Technologies by 4.3% in the second quarter. State Street Corp now owns 48,003,189 shares of the technology company’s stock valued at $368,664,000 after acquiring an additional 1,990,860 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Lumen Technologies by 10.8% in the second quarter. The Manufacturers Life Insurance Company now owns 518,237 shares of the technology company’s stock valued at $3,980,000 after acquiring an additional 50,679 shares during the period. Finally, WINTON GROUP Ltd bought a new position in shares of Lumen Technologies during the second quarter valued at about $3,720,000. 66.19% of the stock is currently owned by institutional investors.

Key Stories Impacting Lumen Technologies

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

• Positive Sentiment: Lumen plans to transfer its common-stock listing from the New York Stock Exchange to Nasdaq, along with two Qwest Corporation notes. Management said Nasdaq better aligns with Lumen’s technology-focused strategy and its expansion of networking services for artificial-intelligence customers. The move could improve visibility among technology and AI-focused investors, although it does not directly affect operations or valuation. Lumen Technologies to move stock listing to Nasdaq
• Positive Sentiment: Lumen introduced “Intelligent Internet,” a service offering flexible bandwidth, term-based pricing and security features for enterprise customers. The launch is aimed at meeting rising connectivity and security requirements from AI workloads and supports the company’s effort to reposition its network business toward higher-value enterprise services. Lumen Unveils Intelligent Internet to Transform Enterprise Networking
• Neutral Sentiment: Lumen’s controller disclosed a stock disposal to cover tax-withholding obligations. Because the transaction appears to be an automatic tax-related sale rather than a discretionary reduction in ownership, it is unlikely to be a meaningful signal about management’s view of LUMN’s prospects. Lumen Technologies Controller Discloses Stock Share Disposal for Tax Withholding

Lumen Technologies Stock Down 2.5%

Shares of LUMN stock opened at $5.71 on Monday. Lumen Technologies has a 12-month low of $5.65 and a 12-month high of $11.95. The company has a market capitalization of $5.89 billion, a PE ratio of -5.60 and a beta of 1.78. The firm has a 50 day moving average price of $6.40 and a two-hundred day moving average price of $7.47.

Lumen Technologies (NYSE:LUMN) last announced its earnings results on Tuesday, August 4th. The technology company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.06. The business had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same period in the prior year, the business posted ($0.03) earnings per share. The firm’s revenue for the quarter was down 9.3% compared to the same quarter last year. As a group, research analysts expect that Lumen Technologies will post -0.54 EPS for the current year.

About Lumen Technologies

Lumen Technologies, Inc (NYSE: LUMN) is a communications and technology company that provides connectivity, networking and digital services to businesses, government organizations and other institutions. Its offerings include fiber-based internet access, wide-area networking, ethernet, software-defined networking, managed network services, cloud connectivity, cybersecurity and unified communications.

The company operates one of the largest fiber networks in the United States and also provides international connectivity through its global network infrastructure.