Lumen Technologies’ (LUMN) Sector Perform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reaffirmed their sector perform rating on shares of Lumen Technologies (NYSE:LUMN) in a research report report published on Monday morning,Benzinga reports. The brokerage currently has a $4.25 target price on the technology company’s stock.

LUMN has been the subject of a number of other research reports. TD Cowen reduced their price objective on Lumen Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Wednesday, November 6th. Citigroup raised their price objective on Lumen Technologies from $6.50 to $8.00 and gave the company a “neutral” rating in a research report on Friday, November 29th. Finally, The Goldman Sachs Group increased their target price on Lumen Technologies from $4.50 to $5.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Three investment analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $4.66.

Lumen Technologies Stock Down 3.7 %

LUMN stock opened at $4.65 on Monday. Lumen Technologies has a twelve month low of $0.97 and a twelve month high of $10.33. The company has a quick ratio of 1.20, a current ratio of 1.21 and a debt-to-equity ratio of 37.70. The firm has a market cap of $4.72 billion, a PE ratio of -92.98 and a beta of 1.28. The business has a 50 day moving average of $5.59 and a 200 day moving average of $6.11.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.14. Lumen Technologies had a negative return on equity of 46.17% and a negative net margin of 0.42%. On average, research analysts forecast that Lumen Technologies will post -0.79 EPS for the current fiscal year.

Hedge Funds Weigh In On Lumen Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC boosted its stake in shares of Lumen Technologies by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 23,344,313 shares of the technology company’s stock worth $165,776,000 after buying an additional 383,693 shares during the last quarter. Norges Bank purchased a new position in shares of Lumen Technologies in the 4th quarter worth $63,638,000. Hennessy Advisors Inc. purchased a new position in shares of Lumen Technologies in the 4th quarter worth $45,089,000. Allianz Asset Management GmbH boosted its stake in shares of Lumen Technologies by 28.1% in the 4th quarter. Allianz Asset Management GmbH now owns 7,790,277 shares of the technology company’s stock worth $41,366,000 after buying an additional 1,710,373 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Lumen Technologies by 2.7% in the 4th quarter. Principal Financial Group Inc. now owns 4,921,381 shares of the technology company’s stock worth $26,133,000 after buying an additional 128,172 shares during the last quarter. 66.19% of the stock is currently owned by hedge funds and other institutional investors.

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.