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

Shares of Lumen Technologies, Inc. (NYSE:LUMN - Get Free Report) have been given an average rating of "Hold" by the ten ratings firms that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $4.58.

A number of equities research analysts have recently weighed in on LUMN shares. Citigroup upgraded Lumen Technologies from a "neutral" rating to a "buy" rating and cut their price objective for the stock from $8.00 to $6.50 in a research report on Wednesday, February 26th. Wells Fargo & Company upgraded Lumen Technologies from an "underweight" rating to an "equal weight" rating and set a $5.00 price objective on the stock in a research report on Friday, February 21st. Royal Bank of Canada reiterated a "sector perform" rating and issued a $4.25 price objective on shares of Lumen Technologies in a research report on Monday, February 10th. Finally, Raymond James upgraded Lumen Technologies from a "market perform" rating to an "outperform" rating and set a $4.50 price target on the stock in a research report on Monday, May 5th.

Lumen Technologies Price Performance

Shares of Lumen Technologies stock traded down $0.01 during trading on Tuesday, hitting $3.91. 3,815,431 shares of the stock traded hands, compared to its average volume of 19,409,384. The company has a quick ratio of 1.20, a current ratio of 1.21 and a debt-to-equity ratio of 37.70. The stock has a market cap of $4.01 billion, a price-to-earnings ratio of -77.68 and a beta of 1.34. The firm's fifty day moving average is $3.75 and its 200-day moving average is $4.93. Lumen Technologies has a 52 week low of $0.97 and a 52 week high of $10.33.

Lumen Technologies (NYSE:LUMN - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The technology company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.16. Lumen Technologies had a negative return on equity of 46.17% and a negative net margin of 0.42%. The business had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same period last year, the company earned ($0.04) EPS. Lumen Technologies's revenue for the quarter was down 3.3% compared to the same quarter last year. Research analysts expect that Lumen Technologies will post -0.87 EPS for the current fiscal year.

Institutional Trading of Lumen Technologies

A number of hedge funds have recently bought and sold shares of LUMN. SG Americas Securities LLC increased its position in Lumen Technologies by 59.1% during the fourth quarter. SG Americas Securities LLC now owns 83,827 shares of the technology company's stock valued at $445,000 after acquiring an additional 31,145 shares during the last quarter. McAdam LLC purchased a new stake in Lumen Technologies during the fourth quarter valued at $345,000. Trust Point Inc. purchased a new stake in Lumen Technologies during the fourth quarter valued at $107,000. Strategic Financial Concepts LLC increased its position in Lumen Technologies by 430.7% during the fourth quarter. Strategic Financial Concepts LLC now owns 179,335 shares of the technology company's stock valued at $952,000 after acquiring an additional 145,542 shares during the last quarter. Finally, Empowered Funds LLC purchased a new stake in Lumen Technologies during the fourth quarter valued at $1,139,000. 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.