Lumen Technologies, Inc. (NYSE:LUMN) Receives $6.72 Consensus PT from Analysts

Lumen Technologies, Inc. (NYSE:LUMN) has earned a consensus recommendation of “Hold” from the eight brokerages that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, five have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $6.72.

A number of analysts recently commented on LUMN shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lumen Technologies in a report on Wednesday, October 8th. Zacks Research upgraded shares of Lumen Technologies from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 8th. Royal Bank Of Canada upped their price target on Lumen Technologies from $4.25 to $8.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 25th. Citigroup downgraded Lumen Technologies from a “buy” rating to a “neutral” rating and set a $11.00 price objective for the company. in a research note on Friday, October 31st. Finally, Wall Street Zen raised Lumen Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, November 9th.

Institutional Investors Weigh In On Lumen Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bessemer Group Inc. lifted its position in Lumen Technologies by 15.5% during the third quarter. Bessemer Group Inc. now owns 7,209 shares of the technology company’s stock worth $43,000 after purchasing an additional 968 shares during the period. Fifth Third Bancorp increased its holdings in Lumen Technologies by 24.5% in the 3rd quarter. Fifth Third Bancorp now owns 5,343 shares of the technology company’s stock valued at $33,000 after buying an additional 1,051 shares during the period. Xponance Inc. raised its position in shares of Lumen Technologies by 1.7% in the 3rd quarter. Xponance Inc. now owns 75,686 shares of the technology company’s stock valued at $463,000 after buying an additional 1,273 shares in the last quarter. Arkadios Wealth Advisors lifted its holdings in shares of Lumen Technologies by 10.5% during the 3rd quarter. Arkadios Wealth Advisors now owns 14,154 shares of the technology company’s stock worth $87,000 after acquiring an additional 1,340 shares during the period. Finally, UMB Bank n.a. boosted its position in shares of Lumen Technologies by 49.1% during the 3rd quarter. UMB Bank n.a. now owns 4,105 shares of the technology company’s stock worth $25,000 after acquiring an additional 1,351 shares in the last quarter. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Lumen Technologies Price Performance

Shares of NYSE:LUMN opened at $8.46 on Wednesday. The stock’s 50 day moving average price is $8.16 and its 200 day moving average price is $6.64. The stock has a market cap of $8.68 billion, a price-to-earnings ratio of -5.13 and a beta of 1.46. Lumen Technologies has a 12 month low of $3.01 and a 12 month high of $11.95.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings results on Thursday, October 30th. The technology company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.11. The company had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.04 billion. Lumen Technologies had a negative return on equity of 158.40% and a negative net margin of 13.02%.The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same period last year, the firm earned ($0.13) EPS. On average, sell-side analysts expect that Lumen Technologies will post -0.87 EPS for the current year.

Lumen Technologies Company Profile

Lumen Technologies is a multinational technology company specializing in integrated network, edge cloud, security and collaboration services for enterprise and public sector clients. The company’s core offerings include high-capacity fiber and IP-based connectivity, managed edge computing solutions designed to accelerate applications and data processing closer to end users, and cybersecurity services ranging from DDoS protection to unified threat management. Through its unified portfolio, Lumen enables organizations to support digital transformation initiatives, modernize infrastructure and enhance operational resilience.

Leveraging one of the largest fiber footprints in North America, as well as infrastructure in Latin America and parts of Europe, Lumen connects customers across more than 60 countries.