Lumen Technologies, Inc. (NYSE:LUMN) Receives $4.66 Consensus Price Target from Analysts

Lumen Technologies, Inc. (NYSE:LUMN) has been assigned an average recommendation of “Reduce” from the nine analysts that are covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell recommendation and six have assigned a hold recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $4.66.

A number of equities analysts have commented on LUMN shares. Royal Bank of Canada restated a “sector perform” rating and set a $4.25 price objective (up previously from $4.00) on shares of Lumen Technologies in a research note on Friday, December 20th. Citigroup boosted their price target on Lumen Technologies from $6.50 to $8.00 and gave the company a “neutral” rating in a research note on Friday, November 29th. The Goldman Sachs Group increased their price objective on shares of Lumen Technologies from $4.50 to $5.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Finally, TD Cowen cut their price target 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.

Lumen Technologies Trading Down 0.5 %

Shares of Lumen Technologies stock opened at $5.52 on Friday. The company has a debt-to-equity ratio of 53.05, a quick ratio of 1.20 and a current ratio of 1.20. The firm has a 50-day moving average of $6.94 and a 200-day moving average of $5.41. Lumen Technologies has a 52-week low of $0.97 and a 52-week high of $10.33. The stock has a market cap of $5.60 billion, a PE ratio of -2.54 and a beta of 1.28.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings data on Tuesday, November 5th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.04). Lumen Technologies had a negative net margin of 16.06% and a negative return on equity of 49.74%. The business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.21 billion. During the same period in the prior year, the firm earned ($0.09) EPS. The business’s revenue for the quarter was down 11.5% on a year-over-year basis. As a group, sell-side analysts forecast that Lumen Technologies will post -0.38 EPS for the current year.

Hedge Funds Weigh In On Lumen Technologies

Institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its position in Lumen Technologies by 1.7% in the third quarter. Geode Capital Management LLC now owns 23,344,313 shares of the technology company’s stock valued at $165,776,000 after purchasing an additional 383,693 shares during the last quarter. Front Street Capital Management Inc. raised its holdings in Lumen Technologies by 30.1% in the 2nd quarter. Front Street Capital Management Inc. now owns 11,661,112 shares of the technology company’s stock valued at $12,827,000 after buying an additional 2,697,423 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Lumen Technologies by 11.6% during the 2nd quarter. Renaissance Technologies LLC now owns 8,873,803 shares of the technology company’s stock worth $9,761,000 after acquiring an additional 919,300 shares during the last quarter. Millennium Management LLC increased its position in Lumen Technologies by 129.8% in the 2nd quarter. Millennium Management LLC now owns 7,854,906 shares of the technology company’s stock valued at $8,640,000 after acquiring an additional 4,436,710 shares during the period. Finally, AQR Capital Management LLC raised its stake in shares of Lumen Technologies by 52.5% during the second quarter. AQR Capital Management LLC now owns 3,621,874 shares of the technology company’s stock valued at $3,712,000 after acquiring an additional 1,246,289 shares during the last quarter. 66.19% of the stock is currently owned by institutional investors and hedge funds.

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.