Lumen Technologies (NYSE:LUMN) Upgraded to “Neutral” at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Lumen Technologies (NYSE:LUMN) from an underweight rating to a neutral rating in a report published on Wednesday morning, Marketbeat reports.

Several other research firms have also issued reports on LUMN. The Goldman Sachs Group started coverage on shares of Lumen Technologies in a research report on Monday, July 1st. They issued a sell rating and a $1.00 price target for the company. Citigroup raised Lumen Technologies from a sell rating to a neutral rating and increased their target price for the stock from $1.25 to $3.15 in a report on Tuesday, August 6th. Three investment analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $3.53.

Lumen Technologies Stock Performance

LUMN opened at $5.57 on Wednesday. The stock’s 50 day simple moving average is $1.75 and its 200-day simple moving average is $1.55. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 36.89. The stock has a market cap of $5.65 billion, a PE ratio of -0.51 and a beta of 1.14. Lumen Technologies has a 1 year low of $0.78 and a 1 year high of $7.83.

Lumen Technologies (NYSE:LUMN) last announced 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 ($0.06) by ($0.07). Lumen Technologies had a negative net margin of 76.21% and a positive return on equity of 4.06%. The business had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.25 billion. During the same period last year, the firm earned $0.10 EPS. The company’s quarterly revenue was down 10.7% compared to the same quarter last year. Sell-side analysts forecast that Lumen Technologies will post -0.23 EPS for the current year.

Institutional Investors Weigh In On Lumen Technologies

A number of large investors have recently bought and sold shares of LUMN. Brighton Jones LLC acquired a new position in Lumen Technologies in the fourth quarter worth $27,000. HighPoint Advisor Group LLC bought a new position in shares of Lumen Technologies in the fourth quarter valued at about $27,000. Fidelis Capital Partners LLC lifted its position in Lumen Technologies by 94.6% during the 1st quarter. Fidelis Capital Partners LLC now owns 22,142 shares of the technology company’s stock worth $35,000 after buying an additional 10,764 shares in the last quarter. Guardian Capital LP grew its holdings in Lumen Technologies by 53.5% during the 4th quarter. Guardian Capital LP now owns 22,145 shares of the technology company’s stock worth $41,000 after acquiring an additional 7,717 shares during the last quarter. Finally, ORG Partners LLC increased its position in Lumen Technologies by 54.0% in the 4th 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 in the last quarter. 66.19% of the stock is currently owned by 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.