Lumen Technologies, Inc. (NYSE:LUMN) Receives Average Recommendation of "Hold" from Brokerages

Key Points

• Lumen Technologies, Inc. has received an average rating of "Hold" from eight analysts, with one sell, five hold, and two buy recommendations.
• The company reported a negative earnings per share of ($0.03) for the last quarter, exceeding analysts' consensus estimates, although its revenue fell 5.4% year-over-year.
• Insider activity increased, with CEO Kathleen E. Johnson and CFO Christopher Stansbury both purchasing significant shares recently, indicating potential confidence in the company's future.

Lumen Technologies, Inc. (NYSE:LUMN - Get Free Report) has received an average rating of "Hold" from the eight analysts that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $5.3917.

Several equities analysts recently commented on LUMN shares. Wall Street Zen upgraded shares of Lumen Technologies from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Lumen Technologies in a research note on Saturday, September 27th. Raymond James Financial raised their price target on Lumen Technologies from $4.50 to $5.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. BNP Paribas raised Lumen Technologies to a "hold" rating in a research report on Wednesday, June 25th. Finally, Citigroup lifted their target price on Lumen Technologies from $6.00 to $7.50 and gave the stock a "buy" rating in a research report on Thursday, September 25th.

Lumen Technologies Stock Performance

NYSE LUMN opened at $6.57 on Monday. The business's 50 day moving average price is $5.02 and its 200-day moving average price is $4.37. Lumen Technologies has a fifty-two week low of $3.01 and a fifty-two week high of $10.33. The company has a market cap of $6.74 billion, a P/E ratio of -5.56 and a beta of 1.45. 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 issued its quarterly earnings results on Thursday, July 31st. The technology company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.24) by $0.21. Lumen Technologies had a negative return on equity of 158.40% and a negative net margin of 9.19%.The company had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.11 billion. During the same period last year, the company earned ($0.13) earnings per share. Lumen Technologies's revenue was down 5.4% on a year-over-year basis. Sell-side analysts predict that Lumen Technologies will post -0.87 earnings per share for the current year.

Insider Activity

In related news, CEO Kathleen E. Johnson bought 135,870 shares of the company's stock in a transaction on Tuesday, August 5th. The shares were acquired at an average cost of $3.69 per share, for a total transaction of $501,360.30. Following the purchase, the chief executive officer directly owned 9,616,947 shares of the company's stock, valued at approximately $35,486,534.43. The trade was a 1.43% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Christopher Stansbury purchased 40,000 shares of the firm's stock in a transaction dated Friday, August 15th. The shares were bought at an average cost of $4.44 per share, with a total value of $177,600.00. Following the purchase, the chief financial officer directly owned 535,000 shares of the company's stock, valued at approximately $2,375,400. This represents a 8.08% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 217,870 shares of company stock valued at $859,140. 2.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lumen Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Osaic Holdings Inc. raised its holdings in shares of Lumen Technologies by 37.2% in the second quarter. Osaic Holdings Inc. now owns 149,779 shares of the technology company's stock valued at $655,000 after acquiring an additional 40,584 shares in the last quarter. Orion Porfolio Solutions LLC purchased a new position in Lumen Technologies during the 2nd quarter valued at about $125,000. MRP Capital Investments LLC lifted its position in shares of Lumen Technologies by 160.0% in the 2nd 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. Hudson Bay Capital Management LP bought a new position in shares of Lumen Technologies during the second quarter valued at approximately $68,000. Finally, Public Sector Pension Investment Board increased its holdings in Lumen Technologies by 8.7% during the second quarter. Public Sector Pension Investment Board now owns 3,497,465 shares of the technology company's stock valued at $15,319,000 after buying an additional 279,235 shares during the period. Institutional investors own 66.19% of the company's stock.

Lumen Technologies Company Profile

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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