Lumen Technologies, Inc. (NYSE:LUMN) Receives $5.29 Consensus PT from Analysts

Key Points

• Lumen Technologies has received a consensus rating of "Hold" from analysts, with five firms recommending hold and two assigning buy ratings.
• The company's quarterly earnings report indicated a loss per share of ($0.03), surpassing estimates, while revenue was down 5.4% year-over-year.
• Insider transactions were notable, with CFO Christopher Stansbury purchasing 40,000 shares and CEO Kathleen E. Johnson acquiring 135,870 shares, indicating confidence in the company's prospects.

Lumen Technologies, Inc. (NYSE:LUMN - Get Free Report) has received an average recommendation of "Hold" from the seven ratings firms that are presently covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $5.2917.

A number of research analysts have weighed in on the stock. Raymond James Financial lifted their price target on shares of Lumen Technologies from $4.50 to $5.00 and gave the company an "outperform" rating in a research report 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. Finally, BNP Paribas raised shares of Lumen Technologies to a "hold" rating in a research note on Wednesday, June 25th.

Insiders Place Their Bets

In related news, CEO Kathleen E. Johnson purchased 135,870 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The stock was acquired at an average price of $3.69 per share, for a total transaction of $501,360.30. Following the completion of the purchase, the chief executive officer owned 9,616,947 shares in the company, valued at approximately $35,486,534.43. This represents a 1.43% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Christopher Stansbury purchased 40,000 shares of the company's stock in a transaction that occurred on Friday, August 15th. The stock was bought at an average price of $4.44 per share, with a total value of $177,600.00. Following the purchase, the chief financial officer owned 535,000 shares of the company's stock, valued at approximately $2,375,400. The trade was a 8.08% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 217,870 shares of company stock valued at $859,140. Insiders own 2.30% of the company's stock.

Institutional Investors Weigh In On Lumen Technologies

Institutional investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC lifted its holdings in Lumen Technologies by 132.3% in the second quarter. Farther Finance Advisors LLC now owns 5,954 shares of the technology company's stock worth $26,000 after purchasing an additional 3,391 shares during the period. MRP Capital Investments LLC lifted its holdings in Lumen Technologies by 160.0% in the second quarter. MRP Capital Investments LLC now owns 6,500 shares of the technology company's stock worth $28,000 after purchasing an additional 4,000 shares during the period. Caitong International Asset Management Co. Ltd lifted its holdings in Lumen Technologies by 3,527.9% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 6,639 shares of the technology company's stock valued at $29,000 after acquiring an additional 6,456 shares during the last quarter. Lazard Asset Management LLC lifted its holdings in Lumen Technologies by 3,825.7% in the 4th quarter. Lazard Asset Management LLC now owns 7,498 shares of the technology company's stock valued at $39,000 after acquiring an additional 7,307 shares during the last quarter. Finally, Firestone Capital Management acquired a new stake in Lumen Technologies in the 2nd quarter valued at about $44,000. Institutional investors and hedge funds own 66.19% of the company's stock.

Lumen Technologies Trading Down 2.0%

Shares of LUMN traded down $0.0950 during mid-day trading on Friday, hitting $4.5950. The company had a trading volume of 11,291,931 shares, compared to its average volume of 12,216,106. The business's 50-day simple moving average is $4.28 and its 200-day simple moving average is $4.23. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 59.98. Lumen Technologies has a 1-year low of $3.01 and a 1-year high of $10.33. The stock has a market cap of $4.72 billion, a PE ratio of -3.89 and a beta of 1.43.

Lumen Technologies (NYSE:LUMN - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The technology company reported ($0.03) earnings per share for the quarter, beating analysts' consensus estimates of ($0.24) by $0.21. The firm had revenue of $3.09 billion for the quarter, compared to analysts' expectations of $3.11 billion. Lumen Technologies had a negative net margin of 9.19% and a negative return on equity of 158.40%. Lumen Technologies's revenue was down 5.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.13) earnings per share. Sell-side analysts forecast that Lumen Technologies will post -0.87 earnings per share 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.