Lumen Technologies (NYSE:LUMN) Stock Rating Upgraded by Wells Fargo & Company

Lumen Technologies (NYSE:LUMN) was upgraded by equities researchers at Wells Fargo & Company from an “underweight” rating to an “equal weight” rating in a research report issued to clients and investors on Friday, MarketBeat.com reports. The firm presently has a $5.00 target price on the technology company’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 6.95% from the stock’s current price.

A number of other brokerages have also recently commented on LUMN. Citigroup upped their target price on shares of Lumen Technologies from $6.50 to $8.00 and gave the company a “neutral” rating in a report on Friday, November 29th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $4.25 target price on shares of Lumen Technologies in a report on Monday, February 10th. TD Cowen reduced their target price on shares of Lumen Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a report on Wednesday, November 6th. Finally, The Goldman Sachs Group upped their target price on shares of Lumen Technologies from $4.50 to $5.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Two analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat, Lumen Technologies presently has a consensus rating of “Hold” and an average price target of $4.78.

Lumen Technologies Stock Down 0.3 %

LUMN opened at $4.68 on Friday. 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 50 day moving average price of $5.34 and a 200-day moving average price of $6.19. Lumen Technologies has a twelve month low of $0.97 and a twelve month high of $10.33. The stock has a market capitalization of $4.74 billion, a price-to-earnings ratio of -93.48 and a beta of 1.28.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.09 earnings per share for the quarter, beating the consensus estimate 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 forecast that Lumen Technologies will post -0.87 earnings per share for the current year.

Hedge Funds Weigh In On Lumen Technologies

A number of hedge funds have recently modified their holdings of LUMN. CWM LLC boosted its position in shares of Lumen Technologies by 49.6% in the third quarter. CWM LLC now owns 15,692 shares of the technology company’s stock worth $111,000 after purchasing an additional 5,202 shares during the period. Creative Planning boosted its position in shares of Lumen Technologies by 8.2% during the third quarter. Creative Planning now owns 323,628 shares of the technology company’s stock worth $2,298,000 after acquiring an additional 24,565 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Lumen Technologies during the third quarter worth $46,000. Greenleaf Trust bought a new position in shares of Lumen Technologies during the third quarter worth $99,000. Finally, Ballentine Partners LLC boosted its position in shares of Lumen Technologies by 114.8% during the third quarter. Ballentine Partners LLC now owns 26,206 shares of the technology company’s stock worth $186,000 after acquiring an additional 14,005 shares during the last quarter. 66.19% of the stock is currently owned by institutional investors.

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.