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

Key Points

• Analysts maintain a cautious view of Lumen Technologies: Ten brokerages collectively rate the stock “Reduce,” with one sell rating and nine holds. The average 12-month price target is $8.32.
• Lumen’s shares opened at $6.36, below their 50-day and 200-day moving averages of $7.83 and $7.90, respectively. The stock has traded between $3.37 and $11.95 over the past year.
• The company reported a quarterly loss of $0.47 per share, missing expectations by $0.34, while revenue of $2.90 billion exceeded estimates but declined 8.9% year over year.

Shares of Lumen Technologies, Inc. (NYSE:LUMN - Get Free Report) have been given a consensus recommendation of "Reduce" by the ten brokerages that are presently covering the stock, MarketBeat.com 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 1-year price objective among analysts that have updated their coverage on the stock in the last year is $8.3214.

Several equities research analysts have commented on LUMN shares. Wells Fargo & Company boosted their price target on shares of Lumen Technologies from $8.00 to $9.00 and gave the stock an "equal weight" rating in a research report on Friday, May 8th. Wall Street Zen cut Lumen Technologies from a "hold" rating to a "sell" rating in a report on Saturday. TD Cowen upped their target price on Lumen Technologies from $8.00 to $9.00 and gave the stock a "hold" rating in a report on Wednesday, May 6th. UBS Group upped their target price on Lumen Technologies from $6.00 to $8.00 and gave the stock a "neutral" rating in a report on Wednesday, May 6th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Lumen Technologies in a research note on Friday, July 17th.

Lumen Technologies Stock Down 3.0%

NYSE LUMN opened at $6.36 on Friday. The firm's 50 day moving average is $7.83 and its 200-day moving average is $7.90. The company has a market capitalization of $6.55 billion, a PE ratio of -3.66 and a beta of 1.75. Lumen Technologies has a 12-month low of $3.37 and a 12-month high of $11.95.

Lumen Technologies (NYSE:LUMN - Get Free Report) last announced its earnings results on Tuesday, May 5th. The technology company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.34). The company had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.83 billion. The company's revenue was down 8.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.13) EPS. As a group, sell-side analysts expect that Lumen Technologies will post -0.39 EPS for the current year.

Institutional Investors Weigh In On Lumen Technologies

Several large investors have recently made changes to their positions in the stock. Trust Asset Management LLC bought a new position in shares of Lumen Technologies in the second quarter valued at $34,000. Handelsbanken Fonder AB raised its position in Lumen Technologies by 14.1% during the second quarter. Handelsbanken Fonder AB now owns 307,500 shares of the technology company's stock worth $2,362,000 after acquiring an additional 38,100 shares in the last quarter. Fulton Bank N.A. lifted its stake in Lumen Technologies by 13.3% in the second quarter. Fulton Bank N.A. now owns 49,485 shares of the technology company's stock valued at $380,000 after acquiring an additional 5,825 shares during the last quarter. Trust Point Inc. grew its position in shares of Lumen Technologies by 26.0% in the 2nd quarter. Trust Point Inc. now owns 13,978 shares of the technology company's stock valued at $107,000 after acquiring an additional 2,883 shares during the period. Finally, Assenagon Asset Management S.A. bought a new position in shares of Lumen Technologies in the 2nd quarter valued at about $305,000. Institutional investors and hedge funds own 66.19% of the company's stock.

About Lumen Technologies

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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