Lumen Technologies, Inc. (NYSE:LUMN) Receives $4.71 Consensus Target Price from Analysts

Lumen Technologies, Inc. (NYSE:LUMN) has been given an average rating of “Reduce” by the eight analysts that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $4.71.

LUMN has been the subject of a number of recent analyst reports. Citigroup raised their price target on Lumen Technologies from $6.50 to $8.00 and gave the company a “neutral” rating in a report on Friday, November 29th. TD Cowen lowered their target price on Lumen Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Wednesday, November 6th. Finally, The Goldman Sachs Group upped their price target on shares of Lumen Technologies from $4.50 to $5.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. lifted its holdings in Lumen Technologies by 66.8% in the third quarter. Franklin Resources Inc. now owns 560,793 shares of the technology company’s stock valued at $3,982,000 after buying an additional 224,506 shares during the period. Virtu Financial LLC bought a new stake in shares of Lumen Technologies during the 3rd quarter valued at $473,000. Neo Ivy Capital Management bought a new stake in shares of Lumen Technologies during the 3rd quarter valued at $570,000. Coldstream Capital Management Inc. acquired a new position in shares of Lumen Technologies in the 3rd quarter valued at $125,000. Finally, Geode Capital Management LLC boosted its position in shares of Lumen Technologies by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 23,344,313 shares of the technology company’s stock worth $165,776,000 after purchasing an additional 383,693 shares during the last quarter. 66.19% of the stock is currently owned by institutional investors and hedge funds.

Lumen Technologies Stock Down 4.5 %

Shares of NYSE LUMN opened at $6.22 on Tuesday. The business has a fifty day moving average of $7.17 and a two-hundred day moving average of $4.90. The company has a debt-to-equity ratio of 53.05, a quick ratio of 1.20 and a current ratio of 1.20. Lumen Technologies has a 52-week low of $0.97 and a 52-week high of $10.33. The stock has a market cap of $6.31 billion, a PE ratio of -2.86 and a beta of 1.21.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings results on Tuesday, November 5th. The technology company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.04). The firm had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.21 billion. Lumen Technologies had a negative net margin of 16.06% and a negative return on equity of 49.74%. Lumen Technologies’s quarterly revenue was down 11.5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.09) earnings per share. As a group, equities research analysts expect that Lumen Technologies will post -0.38 earnings per share for the current fiscal 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.