Lumen Technologies (NYSE:LUMN) PT Raised to $5.00 at UBS Group

Lumen Technologies (NYSE:LUMN) had its price objective boosted by analysts at UBS Group from $1.50 to $5.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the technology company’s stock. UBS Group’s price objective would indicate a potential downside of 27.64% from the company’s previous close.

LUMN has been the topic of a number of other reports. Citigroup upgraded shares of Lumen Technologies from a “sell” rating to a “neutral” rating and upped their target price for the stock from $1.25 to $3.15 in a research report on Tuesday. Moffett Nathanson upped their price objective on Lumen Technologies from $1.00 to $3.00 and gave the stock a “sell” rating in a report on Wednesday. JPMorgan Chase & Co. raised Lumen Technologies from an “underweight” rating to a “neutral” rating in a research note on Wednesday. Finally, The Goldman Sachs Group raised 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 research note on Wednesday. Two analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $3.20.

Lumen Technologies Price Performance

LUMN stock traded up $1.91 during midday trading on Wednesday, reaching $6.91. 171,114,646 shares of the company’s stock traded hands, compared to its average volume of 17,706,314. The company has a 50-day simple moving average of $1.48 and a two-hundred day simple moving average of $1.45. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 36.89. Lumen Technologies has a 1-year low of $0.78 and a 1-year high of $7.83. The company has a market cap of $7.01 billion, a price-to-earnings ratio of -0.60 and a beta of 1.14.

Lumen Technologies (NYSE:LUMN) last announced its earnings results on Tuesday, August 6th. The technology company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.04). The business 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 76.21% and a positive return on equity of 4.06%. The business’s quarterly revenue was down 10.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.10 earnings per share. On average, analysts anticipate that Lumen Technologies will post -0.23 earnings per share for the current year.

Institutional Investors Weigh In On Lumen Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LUMN. Quadrature Capital Ltd acquired a new position in shares of Lumen Technologies during the 1st quarter worth about $468,000. Mitsubishi UFJ Trust & Banking Corp grew its holdings in Lumen Technologies by 22.4% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,190,256 shares of the technology company’s stock valued at $3,198,000 after purchasing an additional 401,399 shares during the period. Federated Hermes Inc. increased its stake in Lumen Technologies by 798.6% in the fourth quarter. Federated Hermes Inc. now owns 1,438,386 shares of the technology company’s stock valued at $2,632,000 after purchasing an additional 1,278,319 shares in the last quarter. Palestra Capital Management LLC raised its holdings in Lumen Technologies by 71.0% in the fourth quarter. Palestra Capital Management LLC now owns 11,167,585 shares of the technology company’s stock worth $20,437,000 after purchasing an additional 4,637,585 shares during the period. Finally, State Board of Administration of Florida Retirement System boosted its position in shares of Lumen Technologies by 247.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 1,143,468 shares of the technology company’s stock worth $1,784,000 after purchasing an additional 814,474 shares in the last quarter. Institutional investors own 66.19% of the company’s stock.

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.