Analysts Set Lumen Technologies, Inc. (NYSE:LUMN) Price Target at $4.58

Shares of Lumen Technologies, Inc. (NYSE:LUMN - Get Free Report) have been given an average recommendation of "Hold" by the eleven brokerages that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $4.58.

Several analysts have issued reports on the stock. BNP Paribas upgraded shares of Lumen Technologies to a "hold" rating in a research note on Wednesday, June 25th. Raymond James Financial upgraded Lumen Technologies from a "market perform" rating to an "outperform" rating and set a $4.50 price objective on the stock in a research report on Monday, May 5th.

Lumen Technologies Stock Performance

Shares of NYSE:LUMN traded up $0.14 during midday trading on Friday, reaching $4.52. 10,232,363 shares of the company traded hands, compared to its average volume of 19,565,932. The firm's fifty day moving average price is $4.02 and its two-hundred day moving average price is $4.53. The firm has a market capitalization of $4.64 billion, a price-to-earnings ratio of -14.58 and a beta of 1.39. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 59.98. Lumen Technologies has a 12 month low of $1.00 and a 12 month high of $10.33.

Lumen Technologies (NYSE:LUMN - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The technology company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.16. Lumen Technologies had a negative return on equity of 75.08% and a negative net margin of 2.41%. The firm had revenue of $3.18 billion for the quarter, compared to analysts' expectations of $3.12 billion. During the same period in the prior year, the business posted ($0.04) earnings per share. The company's revenue was down 3.3% on a year-over-year basis. On average, equities analysts expect that Lumen Technologies will post -0.87 earnings per share for the current year.

Institutional Investors Weigh In On Lumen Technologies

A number of large investors have recently added to or reduced their stakes in the company. Truist Financial Corp raised its holdings in shares of Lumen Technologies by 68.1% during the 4th quarter. Truist Financial Corp now owns 21,577 shares of the technology company's stock valued at $115,000 after buying an additional 8,741 shares in the last quarter. Atria Wealth Solutions Inc. bought a new position in Lumen Technologies during the fourth quarter valued at approximately $69,000. Los Angeles Capital Management LLC raised its stake in shares of Lumen Technologies by 20.3% during the fourth quarter. Los Angeles Capital Management LLC now owns 14,760 shares of the technology company's stock worth $78,000 after acquiring an additional 2,489 shares in the last quarter. Whipplewood Advisors LLC bought a new stake in shares of Lumen Technologies in the 4th quarter worth approximately $67,000. Finally, Oppenheimer & Co. Inc. boosted its stake in shares of Lumen Technologies by 8.7% in the 4th quarter. Oppenheimer & Co. Inc. now owns 39,037 shares of the technology company's stock valued at $207,000 after purchasing an additional 3,109 shares in the last quarter. Hedge funds and other institutional investors own 66.19% of the company's stock.

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.