Lumen Technologies (NYSE:LUMN) Stock Price Target Cut by Citigroup

Key Points

• Citigroup cut its Lumen price target from $8.25 to $5.50 while maintaining a neutral rating; the new target implies 37.84% upside from the prior close.
• Analyst sentiment remains cautious: MarketBeat reports an average “Reduce” rating and $6.19 average target, with JPMorgan and Wells Fargo also lowering their targets.
• Lumen’s quarterly loss was narrower than expected at $0.14 per share, but revenue of $2.71 billion missed estimates; strategic revenue growth was offset by concerns including negative free cash flow.

Lumen Technologies (NYSE:LUMN - Get Free Report) had its price objective decreased by Citigroup from $8.25 to $5.50 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a "neutral" rating on the technology company's stock. Citigroup's price objective suggests a potential upside of 37.84% from the stock's previous close.

A number of other research firms have also weighed in on LUMN. Moffett Nathanson upgraded shares of Lumen Technologies from a "sell" rating to a "neutral" rating and set a $4.00 target price on the stock in a research note on Friday, October 30th. Wall Street Zen upgraded shares of Lumen Technologies from a "sell" rating to a "hold" rating in a research note on Sunday, August 9th. JPMorgan Chase & Co. lowered their price target on shares of Lumen Technologies from $7.00 to $6.00 and set a "neutral" rating for the company in a report on Thursday. Weiss Ratings reissued a "sell (d-)" rating on shares of Lumen Technologies in a research report on Friday, July 17th. Finally, Wells Fargo & Company reduced their price objective on shares of Lumen Technologies from $7.50 to $5.00 and set an "equal weight" rating on the stock in a report on Thursday. Ten research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Reduce" and an average target price of $6.19.

Lumen Technologies Stock Performance

Shares of NYSE LUMN traded up $0.01 during mid-day trading on Friday, reaching $3.99. 18,132,650 shares of the company's stock were exchanged, compared to its average volume of 13,752,571. Lumen Technologies has a 52-week low of $3.84 and a 52-week high of $11.39. The firm has a market capitalization of $4.11 billion, a price-to-earnings ratio of -3.91 and a beta of 1.94. The company's 50-day moving average is $5.62 and its 200-day moving average is $7.17.

Lumen Technologies (NYSE:LUMN - Get Free Report) last posted its earnings results 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 firm had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.73 billion. As a group, equities analysts predict that Lumen Technologies will post -0.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lumen Technologies

Several large investors have recently bought and sold shares of the stock. Legal & General Group Plc acquired a new stake in Lumen Technologies in the second quarter valued at $18,541,000. Hsbc Holdings PLC grew its stake in shares of Lumen Technologies by 10.5% during the 2nd quarter. Hsbc Holdings PLC now owns 9,685,625 shares of the technology company's stock worth $74,242,000 after purchasing an additional 919,605 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Lumen Technologies during the 2nd quarter worth $2,513,000. The Manufacturers Life Insurance Company purchased a new position in shares of Lumen Technologies in the 2nd quarter valued at about $3,980,000. Finally, Congress Asset Management Co. increased its holdings in shares of Lumen Technologies by 21.3% in the 3rd quarter. Congress Asset Management Co. now owns 1,191,427 shares of the technology company's stock valued at $6,672,000 after purchasing an additional 209,416 shares in the last quarter. Institutional investors and hedge funds own 66.19% of the company's stock.

Trending Headlines about Lumen Technologies

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

• Positive Sentiment: Strategic revenue grew about 10% and reached 55% of total revenue, reflecting demand for AI-related services. Lumen reaffirmed full-year adjusted EBITDA guidance and said it remains on track for an EBITDA inflection in 2026. Lumen Q3 results
• Positive Sentiment: The quarterly loss of $0.14 per share was narrower than analysts’ expected loss, offering a profitability bright spot. Why Lumen Technologies Sank Today
• Negative Sentiment: Revenue of roughly $2.71 billion fell short of estimates and was down year over year. Free cash flow also turned negative, tempering the strategic-growth story and contributing to investor concern about the broader business. Q3 earnings call highlights
• Negative Sentiment: Several firms cut their price targets: JPMorgan to $6 from $7, TD Cowen to $8 from $9, Goldman Sachs to $5 from $7.25, and Wells Fargo to $5 from $7.50. Their ratings remained neutral, hold, or equal weight; the widespread reductions suggest less confidence in the near-term outlook. JPMorgan rating information

Lumen Technologies Company Profile

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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