Lumen Technologies (NYSE:LUMN) Posts Quarterly Earnings Results, Beats Expectations By $0.14 EPS

Lumen Technologies (NYSE:LUMN) announced its earnings results on Tuesday. The technology company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.14, Zacks reports. Lumen Technologies had a negative return on equity of 49.74% and a negative net margin of 16.06%.

Lumen Technologies Stock Up 2.3 %

NYSE LUMN opened at $5.09 on Thursday. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 53.05. The company has a fifty day moving average of $5.80 and a two-hundred day moving average of $5.99. The firm has a market capitalization of $5.16 billion, a price-to-earnings ratio of -2.31 and a beta of 1.28. Lumen Technologies has a 52 week low of $0.97 and a 52 week high of $10.33.

Analyst Ratings Changes

Several equities research analysts recently weighed in on LUMN shares. Citigroup increased their target price on Lumen Technologies from $6.50 to $8.00 and gave the company a “neutral” rating in a report on Friday, November 29th. The Goldman Sachs Group increased their price target on shares of Lumen Technologies from $4.50 to $5.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Royal Bank of Canada restated a “sector perform” rating and issued a $4.25 target price (up previously from $4.00) on shares of Lumen Technologies in a research note on Friday, December 20th. Finally, TD Cowen lowered their price target on shares of Lumen Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Wednesday, November 6th. Three equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $4.66.

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.