Lumen Technologies (NYSE:LUMN) Stock Rating Upgraded by BNP Paribas

BNP Paribas upgraded shares of Lumen Technologies (NYSE:LUMN) to a hold rating in a report published on Wednesday,Zacks.com reports.

A number of other equities analysts have also recently commented on the company. Citigroup raised Lumen Technologies from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $8.00 to $6.50 in a report on Wednesday, February 26th. Raymond James Financial upgraded Lumen Technologies from a “market perform” rating to an “outperform” rating and set a $4.50 target price on the stock in a research report on Monday, May 5th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Lumen Technologies has an average rating of “Hold” and a consensus target price of $4.58.

Lumen Technologies Stock Performance

NYSE:LUMN opened at $4.53 on Wednesday. The company has a market cap of $4.65 billion, a price-to-earnings ratio of -14.62 and a beta of 1.38. The stock has a fifty day moving average price of $3.97 and a 200-day moving average price of $4.57. Lumen Technologies has a fifty-two week low of $0.97 and a fifty-two week high of $10.33. The company has a debt-to-equity ratio of 59.98, a quick ratio of 1.21 and a current ratio of 1.21.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings results on Thursday, May 1st. The technology company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.16. Lumen Technologies had a negative net margin of 2.41% and a negative return on equity of 75.08%. The business had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same quarter last year, the business posted ($0.04) EPS. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. As a group, equities analysts anticipate that Lumen Technologies will post -0.87 EPS for the current fiscal year.

Institutional Investors Weigh In On Lumen Technologies

A number of large investors have recently bought and sold shares of LUMN. Wealth Enhancement Advisory Services LLC grew its stake in Lumen Technologies by 3.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 76,905 shares of the technology company’s stock valued at $408,000 after acquiring an additional 2,220 shares during the period. O Shaughnessy Asset Management LLC lifted its holdings in shares of Lumen Technologies by 7.7% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 34,225 shares of the technology company’s stock worth $182,000 after purchasing an additional 2,457 shares in the last quarter. Los Angeles Capital Management LLC grew its position in Lumen Technologies by 20.3% in the 4th quarter. Los Angeles Capital Management LLC now owns 14,760 shares of the technology company’s stock valued at $78,000 after purchasing an additional 2,489 shares during the period. HB Wealth Management LLC increased its stake in Lumen Technologies by 23.6% during the 1st quarter. HB Wealth Management LLC now owns 13,715 shares of the technology company’s stock valued at $54,000 after purchasing an additional 2,619 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its holdings in Lumen Technologies by 15.8% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 20,852 shares of the technology company’s stock worth $111,000 after buying an additional 2,844 shares during the last quarter. 66.19% of the stock is currently owned by institutional investors and hedge funds.

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.