Lumen Technologies, Inc. (NYSE:LUMN) Receives Average Recommendation of “Reduce” from Analysts

Lumen Technologies, Inc. (NYSE:LUMN) has earned a consensus recommendation of “Reduce” from the eight research firms that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $4.02.

A number of analysts recently commented on LUMN shares. Bank of America boosted their target price on shares of Lumen Technologies from $1.00 to $2.00 and gave the stock an “underperform” rating in a report on Thursday, August 8th. Wells Fargo & Company downgraded Lumen Technologies from an “equal weight” rating to an “underweight” rating and increased their price objective for the company from $1.75 to $4.00 in a research report on Friday, August 16th. JPMorgan Chase & Co. upgraded Lumen Technologies from an “underweight” rating to a “neutral” rating in a report on Wednesday, August 7th. The Goldman Sachs Group raised Lumen Technologies from a “sell” rating to a “neutral” rating and upped their target price for the company from $1.00 to $4.00 in a report on Wednesday, August 7th. Finally, Moffett Nathanson lifted their price target on Lumen Technologies from $1.00 to $3.00 and gave the stock a “sell” rating in a research note on Wednesday, August 7th.

Lumen Technologies Price Performance

Shares of NYSE:LUMN opened at $6.72 on Thursday. The stock has a market cap of $6.82 billion, a price-to-earnings ratio of -0.61 and a beta of 1.18. The company has a debt-to-equity ratio of 39.51, a current ratio of 1.01 and a quick ratio of 1.01. Lumen Technologies has a 12 month low of $0.78 and a 12 month high of $7.83. The stock’s 50 day moving average price is $5.42 and its 200 day moving average price is $2.74.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings data on Tuesday, August 6th. The technology company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.07). The firm had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.25 billion. Lumen Technologies had a negative net margin of 15.06% and a negative return on equity of 18.52%. The company’s quarterly revenue was down 10.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.10 EPS. Equities research analysts anticipate that Lumen Technologies will post -0.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Lumen Technologies news, Director James Fowler bought 10,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were bought at an average price of $4.70 per share, with a total value of $47,000.00. Following the purchase, the director now directly owns 384,056 shares in the company, valued at approximately $1,805,063.20. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.68% of the company’s stock.

Hedge Funds Weigh In On Lumen Technologies

Institutional investors and hedge funds have recently modified their holdings of the stock. Palestra Capital Management LLC boosted its position in Lumen Technologies by 71.0% during the fourth quarter. Palestra Capital Management LLC now owns 11,167,585 shares of the technology company’s stock valued at $20,437,000 after purchasing an additional 4,637,585 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Lumen Technologies by 129.8% during the 2nd quarter. Millennium Management LLC now owns 7,854,906 shares of the technology company’s stock valued at $8,640,000 after buying an additional 4,436,710 shares during the last quarter. Front Street Capital Management Inc. grew its stake in shares of Lumen Technologies by 30.1% in the 2nd quarter. Front Street Capital Management Inc. now owns 11,661,112 shares of the technology company’s stock valued at $12,827,000 after buying an additional 2,697,423 shares in the last quarter. Vanguard Group Inc. increased its holdings in Lumen Technologies by 1.7% in the first quarter. Vanguard Group Inc. now owns 120,303,220 shares of the technology company’s stock worth $187,673,000 after buying an additional 1,975,400 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in Lumen Technologies by 52.5% during the second quarter. AQR Capital Management LLC now owns 3,621,874 shares of the technology company’s stock valued at $3,712,000 after acquiring an additional 1,246,289 shares in the last quarter. 66.19% of the stock is currently owned by hedge funds and other institutional investors.

Lumen Technologies Company Profile

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.