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

Lumen Technologies, Inc. (NYSE:LUMN) has received an average rating of “Reduce” from the nine ratings firms that are covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $4.59.

Several equities research analysts have weighed in on the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $4.25 price objective on shares of Lumen Technologies in a report on Monday, February 10th. Wells Fargo & Company raised Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 price target for the company in a research note on Friday, February 21st. Finally, Citigroup raised shares of Lumen Technologies from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $8.00 to $6.50 in a research report on Wednesday, February 26th.

Institutional Trading of Lumen Technologies

A number of hedge funds have recently modified their holdings of LUMN. Geode Capital Management LLC lifted its position in Lumen Technologies by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 23,344,313 shares of the technology company’s stock valued at $165,776,000 after acquiring an additional 383,693 shares during the period. Northern Trust Corp lifted its holdings in shares of Lumen Technologies by 8.6% during the fourth quarter. Northern Trust Corp now owns 12,354,499 shares of the technology company’s stock valued at $65,602,000 after purchasing an additional 982,206 shares during the last quarter. Norges Bank bought a new stake in shares of Lumen Technologies in the 4th quarter worth approximately $63,638,000. Renaissance Technologies LLC increased its position in Lumen Technologies by 76.3% during the 4th quarter. Renaissance Technologies LLC now owns 11,664,009 shares of the technology company’s stock valued at $61,936,000 after buying an additional 5,049,709 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Lumen Technologies by 368.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 9,812,495 shares of the technology company’s stock valued at $52,111,000 after buying an additional 7,717,596 shares during the last quarter. Institutional investors own 66.19% of the company’s stock.

Lumen Technologies Stock Performance

NYSE:LUMN opened at $3.28 on Monday. The company has a debt-to-equity ratio of 37.70, a quick ratio of 1.20 and a current ratio of 1.21. Lumen Technologies has a fifty-two week low of $0.97 and a fifty-two week high of $10.33. The firm has a market cap of $3.36 billion, a PE ratio of -65.49 and a beta of 1.29. The business has a 50 day moving average price of $4.32 and a 200-day moving average price of $5.67.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.14. Lumen Technologies had a negative net margin of 0.42% and a negative return on equity of 46.17%. Equities research analysts predict that Lumen Technologies will post -0.87 earnings per share for the current year.

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.