Lumen Technologies, Inc. (NYSE:LUMN) Given Average Recommendation of “Reduce” by Brokerages

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

A number of equities research analysts recently weighed in on the stock. Bank of America raised their price target on shares of Lumen Technologies from $1.00 to $2.00 and gave the company an “underperform” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. raised Lumen Technologies from an “underweight” rating to a “neutral” rating in a research report on Wednesday, August 7th. TD Cowen boosted their price target on Lumen Technologies from $2.50 to $7.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Wells Fargo & Company lowered Lumen Technologies from an “equal weight” rating to an “underweight” rating and raised their price objective for the company from $1.75 to $4.00 in a research note on Friday, August 16th. Finally, UBS Group upped their target price on Lumen Technologies from $1.50 to $5.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th.

Lumen Technologies Price Performance

Shares of NYSE LUMN opened at $5.84 on Friday. The company has a market capitalization of $5.93 billion, a price-to-earnings ratio of -0.53 and a beta of 1.14. 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 1-year low of $0.78 and a 1-year high of $7.83. The business has a 50-day moving average of $3.51 and a 200-day moving average of $2.12.

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

Insider Buying and Selling at Lumen Technologies

In other news, Director James Fowler purchased 10,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average cost of $4.70 per share, for a total transaction of $47,000.00. Following the acquisition, the director now owns 384,056 shares of the company’s stock, valued at $1,805,063.20. The acquisition was disclosed in a filing with the SEC, which is available at this link. 1.68% of the stock is currently owned by insiders.

Institutional Trading of Lumen Technologies

Several institutional investors have recently added to or reduced their stakes in LUMN. Charles Schwab Investment Management Inc. boosted its holdings in shares of Lumen Technologies by 28.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 26,304,001 shares of the technology company’s stock valued at $48,136,000 after buying an additional 5,782,249 shares during the period. Palestra Capital Management LLC boosted its stake 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 valued at $20,437,000 after acquiring an additional 4,637,585 shares during the period. Millennium Management LLC raised its position 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 worth $8,640,000 after purchasing an additional 4,436,710 shares during the period. Front Street Capital Management Inc. lifted 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 worth $12,827,000 after purchasing an additional 2,697,423 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Lumen Technologies by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 120,303,220 shares of the technology company’s stock valued at $187,673,000 after purchasing an additional 1,975,400 shares during the period. 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.