Lumen Technologies (NYSE:LUMN) Given New $8.00 Price Target at TD Cowen

Key Points

• TD Cowen cut its price target on Lumen from $9 to $8 and maintained a Hold rating; the target implies roughly 101% upside from the reported share price of $3.98.
• Analyst sentiment remains cautious: MarketBeat reported a consensus “Reduce” rating and average price target of $6.66, with 10 Hold ratings and one Sell rating.
• Lumen’s latest quarterly loss of $0.14 per share was smaller than analysts expected, but revenue of $2.71 billion missed estimates of $2.73 billion.

Lumen Technologies (NYSE:LUMN - Get Free Report) had its price target cut by equities researchers at TD Cowen from $9.00 to $8.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a "hold" rating on the technology company's stock. TD Cowen's price objective points to a potential upside of 101.01% from the stock's current price.

A number of other analysts have also commented on the company. Moffett Nathanson upgraded Lumen Technologies from a "sell" rating to a "neutral" rating and set a $4.00 price target on the stock in a report on Friday, October 30th. Citigroup decreased their price objective on Lumen Technologies from $10.00 to $8.25 and set a "neutral" rating for the company in a report on Tuesday, August 11th. Wall Street Zen upgraded Lumen Technologies from a "sell" rating to a "hold" rating in a report on Sunday, August 9th. Weiss Ratings reissued a "sell (d-)" rating on shares of Lumen Technologies in a research report on Friday, July 17th. Finally, Wells Fargo & Company cut their target price on Lumen Technologies from $7.50 to $5.00 and set an "equal weight" rating on the stock in a research note on Thursday. Ten analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Reduce" and an average target price of $6.66.

Lumen Technologies Price Performance

LUMN traded down $0.49 during trading on Thursday, reaching $3.98. The company had a trading volume of 25,206,494 shares, compared to its average volume of 13,705,100. The company has a market cap of $4.10 billion, a P/E ratio of -3.90 and a beta of 1.94. Lumen Technologies has a 12 month low of $3.84 and a 12 month high of $11.43. The business's fifty day moving average price is $5.66 and its 200 day moving average price is $7.19.

Lumen Technologies (NYSE:LUMN - Get Free Report) last issued its quarterly earnings data on Wednesday, November 4th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.09. The company had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.73 billion. As a group, sell-side analysts predict that Lumen Technologies will post -0.54 EPS for the current fiscal year.

Institutional Trading of Lumen Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. lifted its stake in Lumen Technologies by 3.5% in the 2nd quarter. BlackRock Inc. now owns 142,261,845 shares of the technology company's stock valued at $1,092,571,000 after purchasing an additional 4,796,141 shares during the last quarter. State Street Corp grew its stake in shares of Lumen Technologies by 4.3% during the second quarter. State Street Corp now owns 48,003,189 shares of the technology company's stock worth $368,664,000 after buying an additional 1,990,860 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Lumen Technologies by 1.0% during the first quarter. Dimensional Fund Advisors LP now owns 14,994,640 shares of the technology company's stock worth $104,156,000 after buying an additional 144,664 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Lumen Technologies by 87.2% during the second quarter. Bank of New York Mellon Corp now owns 10,489,367 shares of the technology company's stock worth $80,558,000 after buying an additional 4,886,999 shares in the last quarter. Finally, Allianz Asset Management GmbH increased its holdings in shares of Lumen Technologies by 18.7% during the second quarter. Allianz Asset Management GmbH now owns 10,074,316 shares of the technology company's stock worth $77,371,000 after buying an additional 1,585,083 shares in the last quarter. Institutional investors own 66.19% of the company's stock.

Lumen Technologies News Roundup

Here are the key news stories impacting Lumen Technologies this week:

• Positive Sentiment: Strategic revenue grew about 10% and now accounts for 55% of business revenue, supported by AI demand and adoption of Lumen’s Network-as-a-Service platform. Why Lumen Technologies Sank Today
• Positive Sentiment: Adjusted loss of $0.14 per share was better than analyst expectations, and Lumen reaffirmed its full-year adjusted EBITDA guidance. Lumen Q3 Earnings Call Highlights
• Negative Sentiment: Revenue was about $2.71 billion, below the roughly $2.73 billion consensus estimate, while overall sales declined year over year. The shortfall underscored ongoing pressure in Lumen’s legacy business. Lumen Reports Q3 Loss, Lags Revenue Estimates
• Negative Sentiment: Free cash flow turned negative in the quarter, adding to investor concerns despite the strategic-revenue gains and reaffirmed EBITDA outlook. Lumen Q3 Earnings Call Highlights
• Negative Sentiment: Goldman Sachs and Wells Fargo each cut their price target to $5, while maintaining neutral or equal-weight ratings—signaling reduced expectations for the shares. Goldman Sachs rating information Wells Fargo rating information

About Lumen Technologies

Lumen Technologies, Inc is a communications and technology company that provides network, connectivity, cloud, cybersecurity and managed services primarily to businesses, government organizations and wholesale customers. Its offerings include fiber-based internet and data transport, software-defined networking, network security, unified communications, voice services, edge computing and related information technology solutions.

The company operates one of the largest enterprise fiber networks in the United States and also serves customers internationally through its global network and wholesale operations.

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