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

Lumen Technologies, Inc. (NYSE:LUMN - Get Free Report) has received a consensus rating of "Hold" from the ten analysts that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $4.58.

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

Institutional Trading of Lumen Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in LUMN. Franklin Resources Inc. lifted its position in shares of Lumen Technologies by 66.8% during the third quarter. Franklin Resources Inc. now owns 560,793 shares of the technology company's stock valued at $3,982,000 after purchasing an additional 224,506 shares in the last quarter. Diversified Trust Co purchased a new stake in Lumen Technologies during the 4th quarter valued at $482,000. Assenagon Asset Management S.A. increased its position in shares of Lumen Technologies by 8.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 935,386 shares of the technology company's stock valued at $4,967,000 after buying an additional 73,841 shares during the period. Hennessy Advisors Inc. purchased a new stake in Lumen Technologies in the fourth quarter worth about $45,089,000. Finally, Merit Financial Group LLC purchased a new stake in shares of Lumen Technologies during the fourth quarter valued at approximately $111,000. 66.19% of the stock is currently owned by institutional investors.

Lumen Technologies Trading Up 5.5 %

LUMN traded up $0.23 on Friday, hitting $4.39. The company had a trading volume of 10,431,366 shares, compared to its average volume of 19,244,759. Lumen Technologies has a 12-month low of $0.97 and a 12-month high of $10.33. The business's fifty day simple moving average is $4.03 and its 200 day simple moving average is $5.39. The company has a market cap of $4.50 billion, a PE ratio of -87.78 and a beta of 1.34. The company has a quick ratio of 1.20, a current ratio of 1.21 and a debt-to-equity ratio of 37.70.

Lumen Technologies (NYSE:LUMN - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The technology company reported ($0.13) earnings per share 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 during the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter last year, the company earned ($0.04) earnings per share. The company's quarterly revenue was down 3.3% on a year-over-year basis. Equities research analysts expect that Lumen Technologies will post -0.87 EPS for the current year.

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.