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

Shares of Lumen Technologies, Inc. (NYSE:LUMN) have earned a consensus rating of “Reduce” from the nine research firms that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and one has given a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $4.59.

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

Lumen Technologies Stock Down 0.2 %

Lumen Technologies stock opened at $3.28 on Monday. The firm has a market cap of $3.36 billion, a price-to-earnings ratio of -65.49 and a beta of 1.29. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 37.70. Lumen Technologies has a 12 month low of $0.97 and a 12 month high of $10.33. The stock has a fifty day simple moving average of $4.32 and a two-hundred day simple moving average of $5.67.

Lumen Technologies (NYSE:LUMN) last issued its earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share for the quarter, topping 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%. Equities analysts predict that Lumen Technologies will post -0.87 EPS for the current fiscal year.

Institutional Investors Weigh In On Lumen Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LUMN. Smartleaf Asset Management LLC lifted its holdings in Lumen Technologies by 173.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 6,745 shares of the technology company’s stock valued at $36,000 after purchasing an additional 4,277 shares in the last quarter. Lazard Asset Management LLC lifted its stake in shares of Lumen Technologies by 3,825.7% during the 4th quarter. Lazard Asset Management LLC now owns 7,498 shares of the technology company’s stock valued at $39,000 after buying an additional 7,307 shares in the last quarter. Ritholtz Wealth Management bought a new position in Lumen Technologies in the 1st quarter worth $43,000. R Squared Ltd purchased a new stake in Lumen Technologies in the 4th quarter worth $48,000. Finally, Quantinno Capital Management LP purchased a new position in shares of Lumen Technologies in the fourth quarter valued at about $54,000. 66.19% of the stock is 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.