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

Lumen Technologies, Inc. (NYSE:LUMNGet Free Report) has earned a consensus rating of “Reduce” from the nine analysts that are currently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $4.66.

LUMN has been the topic of several research analyst reports. The Goldman Sachs Group boosted their price objective on Lumen Technologies from $4.50 to $5.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Citigroup increased their price target on shares of Lumen Technologies from $6.50 to $8.00 and gave the stock a “neutral” rating in a research report on Friday, November 29th. Royal Bank of Canada restated a “sector perform” rating and issued a $4.25 price objective (up previously from $4.00) on shares of Lumen Technologies in a report on Friday, December 20th. Finally, TD Cowen reduced their target price on shares of Lumen Technologies from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Wednesday, November 6th.

Read Our Latest Stock Report on Lumen Technologies

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in LUMN. Geode Capital Management LLC boosted its holdings in Lumen Technologies by 1.7% in the third quarter. Geode Capital Management LLC now owns 23,344,313 shares of the technology company’s stock valued at $165,776,000 after purchasing an additional 383,693 shares in the last quarter. Front Street Capital Management Inc. boosted its holdings 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. Renaissance Technologies LLC raised its stake in Lumen Technologies by 11.6% during the 2nd quarter. Renaissance Technologies LLC now owns 8,873,803 shares of the technology company’s stock worth $9,761,000 after acquiring an additional 919,300 shares in the last quarter. Millennium Management LLC lifted its position in Lumen Technologies by 129.8% in the second quarter. Millennium Management LLC now owns 7,854,906 shares of the technology company’s stock valued at $8,640,000 after acquiring an additional 4,436,710 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of 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 worth $3,712,000 after purchasing an additional 1,246,289 shares during the last quarter. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Lumen Technologies Trading Down 1.8 %

NYSE LUMN opened at $5.42 on Friday. Lumen Technologies has a 12 month low of $0.97 and a 12 month high of $10.33. The stock has a market capitalization of $5.50 billion, a P/E ratio of -2.50 and a beta of 1.28. The firm’s 50-day moving average is $6.92 and its two-hundred day moving average is $5.41. The company has a debt-to-equity ratio of 53.05, a current ratio of 1.20 and a quick ratio of 1.20.

Lumen Technologies (NYSE:LUMNGet Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The technology company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.04). The company had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.21 billion. Lumen Technologies had a negative return on equity of 49.74% and a negative net margin of 16.06%. The business’s revenue for the quarter was down 11.5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.09) EPS. On average, sell-side analysts anticipate that Lumen Technologies will post -0.38 earnings per share for the current year.

Lumen Technologies Company Profile

(Get Free Report

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.

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Analyst Recommendations for Lumen Technologies (NYSE:LUMN)

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