Lumen Technologies (NYSE:LUMN) Price Target Raised to $7.00

Lumen Technologies (NYSE:LUMN) had its price objective raised by TD Cowen from $2.50 to $7.00 in a research note published on Wednesday, Benzinga reports. TD Cowen currently has a hold rating on the technology company’s stock.

LUMN has been the subject of a number of other research reports. JPMorgan Chase & Co. raised shares of Lumen Technologies from an underweight rating to a neutral rating in a research note on Wednesday. The Goldman Sachs Group upgraded shares of Lumen Technologies from a sell rating to a neutral rating and upped their price target for the company from $1.00 to $4.00 in a report on Wednesday. UBS Group upped their target price on Lumen Technologies from $1.50 to $5.00 and gave the company a neutral rating in a report on Wednesday. Moffett Nathanson increased their target price on Lumen Technologies from $1.00 to $3.00 and gave the stock a sell rating in a research report on Wednesday. Finally, Citigroup raised shares of Lumen Technologies from a sell rating to a neutral rating and raised their target price for the company from $1.25 to $3.15 in a research note on Tuesday, August 6th. Three analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $3.53.

Lumen Technologies Stock Up 3.5 %

NYSE LUMN traded up $0.19 on Wednesday, hitting $5.57. 65,472,027 shares of the company were exchanged, compared to its average volume of 19,439,184. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 36.89. Lumen Technologies has a 12 month low of $0.78 and a 12 month high of $7.83. The stock has a fifty day moving average of $1.75 and a 200-day moving average of $1.55. The company has a market cap of $5.65 billion, a PE ratio of -0.51 and a beta of 1.14.

Lumen Technologies (NYSE:LUMN) last released its earnings results on Tuesday, August 6th. The technology company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.07). Lumen Technologies had a positive return on equity of 4.06% and a negative net margin of 76.21%. The business had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.25 billion. During the same quarter in the previous year, the firm earned $0.10 earnings per share. The company’s revenue for the quarter was down 10.7% on a year-over-year basis. As a group, analysts forecast that Lumen Technologies will post -0.23 earnings per share for the current year.

Institutional Investors Weigh In On Lumen Technologies

Several large investors have recently bought and sold shares of LUMN. Brighton Jones LLC acquired a new position in Lumen Technologies during the 4th quarter worth $27,000. HighPoint Advisor Group LLC purchased a new stake in Lumen Technologies during the 4th quarter valued at approximately $27,000. Fidelis Capital Partners LLC increased its holdings in Lumen Technologies by 94.6% in the first quarter. Fidelis Capital Partners LLC now owns 22,142 shares of the technology company’s stock valued at $35,000 after buying an additional 10,764 shares in the last quarter. Guardian Capital LP grew its position in shares of Lumen Technologies by 53.5% in the fourth quarter. Guardian Capital LP now owns 22,145 shares of the technology company’s stock valued at $41,000 after purchasing an additional 7,717 shares during the last quarter. Finally, ORG Partners LLC boosted its stake in shares of Lumen Technologies by 54.0% during the fourth quarter. ORG Partners LLC now owns 22,580 shares of the technology company’s stock valued at $41,000 after acquiring an additional 7,920 shares during the last quarter. 66.19% of the stock is currently owned by hedge funds and other institutional investors.

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.