Lumen Technologies (NYSE:LUMN) Cut to Sell at Wall Street Zen

Key Points

• Lumen Technologies has been downgraded from a "hold" to a "sell" rating by Wall Street Zen, causing concern among investors.
• Despite the downgrade, other analysts like Raymond James Financial have upgraded the stock to "outperform" with a target price of $4.50, highlighting mixed analyst sentiment.
• The company's recent earnings show a loss of ($0.13) per share, surpassing estimates, but revenue has declined by 3.3% year-over-year, underlining ongoing challenges in financial performance.

Lumen Technologies (NYSE:LUMN - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Saturday.

A number of other research firms also recently commented on LUMN. Raymond James Financial upgraded Lumen Technologies from a "market perform" rating to an "outperform" rating and set a $4.50 price objective for the company in a report on Monday, May 5th. BNP Paribas upgraded Lumen Technologies to a "hold" rating in a research note on Wednesday, June 25th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Lumen Technologies presently has an average rating of "Hold" and an average target price of $4.58.

Lumen Technologies Trading Up 2.6%

Shares of NYSE:LUMN traded up $0.11 during midday trading on Friday, reaching $4.58. The company had a trading volume of 10,350,417 shares, compared to its average volume of 7,559,569. Lumen Technologies has a 1-year low of $1.94 and a 1-year high of $10.33. The company has a debt-to-equity ratio of 59.98, a quick ratio of 1.21 and a current ratio of 1.21. The firm has a market cap of $4.70 billion, a price-to-earnings ratio of -14.79 and a beta of 1.39. The company has a fifty day simple moving average of $4.24 and a two-hundred day simple moving average of $4.36.

Lumen Technologies (NYSE:LUMN - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The technology company reported ($0.13) earnings per share for the quarter, beating analysts' consensus estimates of ($0.29) by $0.16. Lumen Technologies had a negative return on equity of 75.08% and a negative net margin of 2.41%. The business had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.12 billion. During the same period last year, the business earned ($0.04) EPS. The firm's revenue was down 3.3% compared to the same quarter last year. Research analysts predict that Lumen Technologies will post -0.87 earnings per share for the current year.

Institutional Investors Weigh In On Lumen Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in LUMN. Norges Bank purchased a new position in Lumen Technologies in the 4th quarter worth approximately $63,638,000. Dimensional Fund Advisors LP lifted its position in Lumen Technologies by 368.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,812,495 shares of the technology company's stock worth $52,111,000 after acquiring an additional 7,717,596 shares during the period. Nuveen LLC acquired a new position in Lumen Technologies during the first quarter valued at $26,469,000. Renaissance Technologies LLC increased 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 purchasing an additional 5,049,709 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Lumen Technologies by 91.6% in the 1st quarter. Invesco Ltd. now owns 10,276,782 shares of the technology company's stock valued at $40,285,000 after purchasing an additional 4,911,803 shares during the last quarter. Hedge funds and other 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.