Lumen Technologies, Inc. (NYSE:LUMN) Given Consensus Recommendation of "Reduce" by Analysts

Key Points

• Analysts maintain a cautious view of Lumen Technologies: Ten firms give the stock a consensus “Reduce” rating, including one sell and nine hold ratings. The average 12-month price target is $7.86, with several firms recently lowering their targets.
• Lumen’s shares opened at $6.08, below both their 50-day and 200-day moving averages, and have traded between $4.57 and $11.95 over the past year. The company has a market capitalization of approximately $6.27 billion.
• Quarterly results beat expectations but revenue declined: Lumen reported an adjusted loss of $0.07 per share versus the expected $0.13 loss, while revenue of $2.81 billion exceeded estimates but fell 9.3% year over year. CEO Kathleen E. Johnson also purchased 100,000 shares at an average price of $6.13.

Shares of Lumen Technologies, Inc. (NYSE:LUMN - Get Free Report) have been assigned an average rating of "Reduce" from the ten research firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and nine have issued a hold recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $7.8571.

Several research firms have recently weighed in on LUMN. Citigroup lowered their price objective on shares of Lumen Technologies from $10.00 to $8.25 and set a "neutral" rating on the stock in a research report on Tuesday, August 11th. The Goldman Sachs Group lowered their price target on Lumen Technologies from $8.50 to $7.25 and set a "neutral" rating on the stock in a research report on Wednesday, August 5th. Zacks Research lowered Lumen Technologies from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 5th. Weiss Ratings reissued a "sell (d-)" rating on shares of Lumen Technologies in a report on Friday, July 17th. Finally, UBS Group boosted their target price on Lumen Technologies from $6.00 to $8.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 6th.

Lumen Technologies Stock Up 3.2%

LUMN stock opened at $6.08 on Thursday. The stock has a 50-day simple moving average of $6.67 and a two-hundred day simple moving average of $7.63. The firm has a market capitalization of $6.27 billion, a PE ratio of -5.96 and a beta of 1.78. Lumen Technologies has a twelve month low of $4.57 and a twelve month high of $11.95.

Lumen Technologies (NYSE:LUMN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The technology company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.13) by $0.06. The business had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.74 billion. The business's revenue was down 9.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.03) EPS. On average, equities research analysts anticipate that Lumen Technologies will post -0.42 EPS for the current fiscal year.

Insider Activity

In other Lumen Technologies news, CEO Kathleen E. Johnson bought 100,000 shares of Lumen Technologies stock in a transaction that occurred on Thursday, August 6th. The shares were bought at an average price of $6.13 per share, with a total value of $613,000.00. Following the acquisition, the chief executive officer owned 100,000 shares in the company, valued at approximately $613,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.30% of the company's stock.

Institutional Trading of Lumen Technologies

Several institutional investors have recently added to or reduced their stakes in the business. Kemnay Advisory Services Inc. bought a new stake in shares of Lumen Technologies in the 4th quarter valued at about $25,000. Ascentis Independent Advisors purchased a new position in Lumen Technologies in the 1st quarter worth approximately $27,000. International Assets Investment Management LLC bought a new stake in Lumen Technologies in the fourth quarter valued at approximately $30,000. Versant Capital Management Inc grew its holdings in shares of Lumen Technologies by 90.3% in the second quarter. Versant Capital Management Inc now owns 3,920 shares of the technology company's stock worth $30,000 after purchasing an additional 1,860 shares during the last quarter. Finally, Trust Asset Management LLC bought a new stake in Lumen Technologies during the 2nd quarter valued at $34,000. 66.19% of the stock is currently owned by hedge funds and other institutional investors.

Lumen Technologies Company Profile

Lumen Technologies is a multinational technology company specializing in integrated network, edge cloud, security and collaboration services for enterprise and public sector clients. The company's core offerings include high-capacity fiber and IP-based connectivity, managed edge computing solutions designed to accelerate applications and data processing closer to end users, and cybersecurity services ranging from DDoS protection to unified threat management. Through its unified portfolio, Lumen enables organizations to support digital transformation initiatives, modernize infrastructure and enhance operational resilience.

Leveraging one of the largest fiber footprints in North America, as well as infrastructure in Latin America and parts of Europe, Lumen connects customers across more than 60 countries.

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