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

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

LUMN has been the subject of several other research reports. Citigroup upgraded shares of Lumen Technologies from a “neutral” rating to a “buy” rating and reduced their price target for the company from $8.00 to $6.50 in a research report on Wednesday, February 26th. Raymond James Financial upgraded shares of Lumen Technologies from a “market perform” rating to an “outperform” rating and set a $4.50 price target for the company in a research report on Monday, May 5th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $4.58.

Lumen Technologies Trading Up 4.2%

Shares of Lumen Technologies stock opened at $4.53 on Wednesday. The company has a fifty day simple moving average of $3.97 and a 200-day simple moving average of $4.57. Lumen Technologies has a 12-month low of $0.97 and a 12-month high of $10.33. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 59.98. The stock has a market cap of $4.65 billion, a price-to-earnings ratio of -14.62 and a beta of 1.38.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings results on Thursday, May 1st. The technology company reported ($0.13) EPS for the quarter, beating 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 firm had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter in the prior year, the firm earned ($0.04) EPS. Lumen Technologies’s revenue for the quarter was down 3.3% on a year-over-year basis. On average, equities analysts forecast that Lumen Technologies will post -0.87 EPS for the current fiscal year.

Hedge Funds Weigh In On Lumen Technologies

Large investors have recently bought and sold shares of the company. Voya Investment Management LLC increased its holdings in shares of Lumen Technologies by 16.6% in the 1st quarter. Voya Investment Management LLC now owns 554,840 shares of the technology company’s stock valued at $2,175,000 after purchasing an additional 78,872 shares in the last quarter. Strs Ohio purchased a new position in shares of Lumen Technologies in the 1st quarter valued at about $1,073,000. GK Wealth Management LLC increased its holdings in shares of Lumen Technologies by 19.4% in the 1st quarter. GK Wealth Management LLC now owns 64,865 shares of the technology company’s stock valued at $254,000 after purchasing an additional 10,550 shares in the last quarter. McAdam LLC increased its holdings in shares of Lumen Technologies by 74.5% in the 1st quarter. McAdam LLC now owns 113,350 shares of the technology company’s stock valued at $444,000 after purchasing an additional 48,384 shares in the last quarter. Finally, Acadian Asset Management LLC increased its holdings in shares of Lumen Technologies by 50.6% in the 1st quarter. Acadian Asset Management LLC now owns 804,061 shares of the technology company’s stock valued at $3,146,000 after purchasing an additional 270,027 shares in the last quarter. Hedge funds and other institutional investors own 66.19% of the company’s stock.

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.