Shares of Lumen Technologies, Inc. (NYSE:LUMN – Get Free Report) rose 28.8% during mid-day trading on Wednesday after Moffett Nathanson raised their price target on the stock from $1.00 to $3.00. Moffett Nathanson currently has a sell rating on the stock. Lumen Technologies traded as high as $7.83 and last traded at $6.44. Approximately 143,615,464 shares changed hands during mid-day trading, an increase of 718% from the average daily volume of 17,558,059 shares. The stock had previously closed at $5.00.
Other research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. upgraded shares of Lumen Technologies from an “underweight” rating to a “neutral” rating in a report on Wednesday. Citigroup upgraded shares of Lumen Technologies from a “sell” rating to a “neutral” rating and raised their price target for the company from $1.25 to $3.15 in a report on Tuesday. Finally, The Goldman Sachs Group upgraded shares of Lumen Technologies from a “sell” rating to a “neutral” rating and raised their price target for the company from $1.00 to $4.00 in a report on Wednesday. Two analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat, Lumen Technologies currently has a consensus rating of “Hold” and an average target price of $2.62.
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Lumen Technologies Stock Up 28.8 %
The company has a debt-to-equity ratio of 36.89, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market capitalization of $6.54 billion, a price-to-earnings ratio of -0.59 and a beta of 1.14. The firm’s 50-day simple moving average is $1.48 and its 200-day simple moving average is $1.45.
Lumen Technologies (NYSE:LUMN – Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.04). The company had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.25 billion. Lumen Technologies had a positive return on equity of 4.06% and a negative net margin of 76.21%. The business’s revenue for the quarter was down 10.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.10 earnings per share. Sell-side analysts forecast that Lumen Technologies, Inc. will post -0.23 earnings per share for the current year.
About Lumen Technologies
Lumen Technologies, Inc, a facilities-based technology and communications company, provides various integrated products and services to business and residential customers in the United States and internationally. The company operates in two segments, Business and Mass Markets. It offers dark fiber, edge cloud services, internet protocol, managed security, software-defined wide area networks, secure access service edge, unified communications and collaboration, and optical wavelengths services; ethernet and VPN data networks services; and legacy services to manage cash flow, including time division multiplexing voice, private line, and other legacy services, as well as sells communication equipment, and IT solutions.
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