Lumen Technologies, Inc. (NYSE:LUMN) Receives Consensus Rating of “Reduce” from Brokerages

Lumen Technologies, Inc. (NYSE:LUMN) has been given a consensus rating of “Reduce” by the nine analysts that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $4.59.

Several equities analysts have recently issued reports on LUMN shares. Wells Fargo & Company raised shares of 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. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $4.25 target price on shares of Lumen Technologies in a research report on Monday, February 10th. Finally, Citigroup upgraded 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.

Lumen Technologies Trading Down 1.3 %

NYSE LUMN opened at $4.86 on Thursday. Lumen Technologies has a twelve month low of $0.97 and a twelve month high of $10.33. The business’s fifty day moving average is $5.00 and its 200 day moving average is $6.08. 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 company has a market cap of $4.92 billion, a price-to-earnings ratio of -97.10 and a beta of 1.28.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share for the quarter, topping the consensus estimate 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%. As a group, sell-side analysts expect that Lumen Technologies will post -0.87 EPS for the current fiscal year.

Institutional Investors Weigh In On Lumen Technologies

Several large investors have recently added to or reduced their stakes in the business. Empowered Funds LLC bought a new position in shares of Lumen Technologies during the 4th quarter worth approximately $1,139,000. Strategic Financial Concepts LLC boosted its stake in Lumen Technologies by 430.7% during the fourth quarter. Strategic Financial Concepts LLC now owns 179,335 shares of the technology company’s stock worth $952,000 after acquiring an additional 145,542 shares in the last quarter. Polianta Ltd acquired a new stake in Lumen Technologies in the fourth quarter worth $692,000. Mariner Investment Group LLC bought a new stake in Lumen Technologies in the fourth quarter valued at $531,000. Finally, Quantbot Technologies LP acquired a new position in shares of Lumen Technologies during the third quarter valued at about $733,000. Institutional investors and hedge funds 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.