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

Lumen Technologies, Inc. (NYSE:LUMN - Get Free Report) has been assigned an average rating of "Hold" from the ten analysts that are currently covering the company, Marketbeat reports. Two equities research 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 brokers that have updated their coverage on the stock in the last year is $4.58.

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

Institutional Investors Weigh In On Lumen Technologies

A number of large investors have recently modified their holdings of LUMN. Northern Trust Corp grew its position in Lumen Technologies by 8.6% in the fourth quarter. Northern Trust Corp now owns 12,354,499 shares of the technology company's stock valued at $65,602,000 after acquiring an additional 982,206 shares during the last quarter. Norges Bank bought a new stake in shares of Lumen Technologies during the 4th quarter valued at approximately $63,638,000. Renaissance Technologies LLC grew its stake in shares of Lumen Technologies by 76.3% during the fourth quarter. Renaissance Technologies LLC now owns 11,664,009 shares of the technology company's stock worth $61,936,000 after buying an additional 5,049,709 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Lumen Technologies by 91.6% during the first quarter. Invesco Ltd. now owns 10,276,782 shares of the technology company's stock worth $40,285,000 after buying an additional 4,911,803 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Lumen Technologies by 368.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 9,812,495 shares of the technology company's stock valued at $52,111,000 after purchasing an additional 7,717,596 shares in the last quarter. Institutional investors and hedge funds own 66.19% of the company's stock.

Lumen Technologies Stock Performance

Lumen Technologies stock traded down $0.05 on Friday, reaching $4.35. 1,997,271 shares of the stock were exchanged, compared to its average volume of 19,137,098. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 37.70. Lumen Technologies has a twelve month low of $0.97 and a twelve month high of $10.33. The firm has a fifty day moving average price of $4.00 and a two-hundred day moving average price of $5.37. The stock has a market cap of $4.46 billion, a PE ratio of -86.68 and a beta of 1.34.

Lumen Technologies (NYSE:LUMN - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The technology company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.16. The company had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.12 billion. Lumen Technologies had a negative return on equity of 46.17% and a negative net margin of 0.42%. The company's revenue for the quarter was down 3.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.04) EPS. Sell-side analysts anticipate 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.