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

Key Points

• Lumen Technologies, Inc. has received an average recommendation of "Hold" from seven research firms, with five analysts advising a hold and two giving a buy rating.
• Recent transactions indicate insider activity, with CEO Kathleen E. Johnson purchasing 135,870 shares and CFO Christopher Stansbury buying 40,000 shares, reflecting confidence in the company's future.
• For the last quarter, Lumen Technologies reported a loss of ($0.03) EPS, exceeding estimates, but also noted a 5.4% decline in revenue year-over-year.

Lumen Technologies, Inc. (NYSE:LUMN - Get Free Report) has been given an average recommendation of "Hold" by the seven research firms that are currently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $5.1417.

LUMN has been the topic of several recent analyst reports. Raymond James Financial increased their target price on shares of Lumen Technologies from $4.50 to $5.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Wall Street Zen upgraded shares of Lumen Technologies from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. The Goldman Sachs Group initiated coverage on shares of Lumen Technologies in a research note on Tuesday, September 2nd. They issued a "neutral" rating and a $4.10 target price on the stock. Finally, BNP Paribas upgraded shares of Lumen Technologies to a "hold" rating in a research note on Wednesday, June 25th.

Insider Buying and Selling at Lumen Technologies

In related news, CEO Kathleen E. Johnson acquired 135,870 shares of the stock in a transaction dated Tuesday, August 5th. The shares were purchased at an average price of $3.69 per share, for a total transaction of $501,360.30. Following the transaction, the chief executive officer owned 9,616,947 shares in the company, valued at $35,486,534.43. This represents a 1.43% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Christopher Stansbury acquired 40,000 shares of the stock in a transaction dated Friday, August 15th. The shares were bought at an average price of $4.44 per share, for a total transaction of $177,600.00. Following the transaction, the chief financial officer owned 535,000 shares in the company, valued at approximately $2,375,400. This represents a 8.08% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 217,870 shares of company stock worth $859,140. Corporate 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 LUMN. Farther Finance Advisors LLC boosted its position in Lumen Technologies by 132.3% during the second quarter. Farther Finance Advisors LLC now owns 5,954 shares of the technology company's stock valued at $26,000 after buying an additional 3,391 shares during the period. MRP Capital Investments LLC boosted its position in Lumen Technologies by 160.0% during the second quarter. MRP Capital Investments LLC now owns 6,500 shares of the technology company's stock valued at $28,000 after buying an additional 4,000 shares during the period. Caitong International Asset Management Co. Ltd boosted its position in Lumen Technologies by 3,527.9% during the second quarter. Caitong International Asset Management Co. Ltd now owns 6,639 shares of the technology company's stock valued at $29,000 after buying an additional 6,456 shares during the period. Lazard Asset Management LLC boosted its position in Lumen Technologies by 3,825.7% during the fourth 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 during the period. Finally, Conning Inc. purchased a new stake in Lumen Technologies during the first quarter valued at about $39,000. 66.19% of the stock is currently owned by hedge funds and other institutional investors.

Lumen Technologies Trading Up 9.0%

Shares of Lumen Technologies stock opened at $6.14 on Thursday. The stock's 50-day simple moving average is $4.52 and its 200 day simple moving average is $4.25. The stock has a market capitalization of $6.30 billion, a P/E ratio of -5.20 and a beta of 1.42. Lumen Technologies has a 52-week low of $3.01 and a 52-week high of $10.33. The company has a debt-to-equity ratio of 59.98, a quick ratio of 2.13 and a current ratio of 2.13.

Lumen Technologies (NYSE:LUMN - Get Free Report) last posted its earnings results on Thursday, July 31st. The technology company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.21. Lumen Technologies had a negative net margin of 9.19% and a negative return on equity of 158.40%. The business had revenue of $3.09 billion for the quarter, compared to analysts' expectations of $3.11 billion. During the same period in the prior year, the company posted ($0.13) EPS. The business's revenue for the quarter was down 5.4% compared to the same quarter last year. As a group, research analysts anticipate that Lumen Technologies will post -0.87 EPS for the current year.

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.

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