Lumen Technologies (NYSE:LUMN) Raised to Hold at BNP Paribas

BNP Paribas upgraded shares of Lumen Technologies (NYSE:LUMN - Free Report) to a hold rating in a report published on Wednesday morning,Zacks.com reports.

Other equities research analysts have also recently issued reports about the stock. Raymond James Financial upgraded shares of Lumen Technologies from a "market perform" rating to an "outperform" rating and set a $4.50 price target for the company in a research report on Monday, May 5th. Citigroup raised shares of Lumen Technologies from a "neutral" rating to a "buy" rating and lowered their price objective for the stock from $8.00 to $6.50 in a research report on Wednesday, February 26th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $4.58.

Lumen Technologies Trading Up 3.2%

LUMN traded up $0.14 during trading hours on Wednesday, reaching $4.52. The company's stock had a trading volume of 10,232,243 shares, compared to its average volume of 19,546,019. The business's 50-day moving average is $3.99 and its 200-day moving average is $4.53. The company has a debt-to-equity ratio of 59.98, a current ratio of 1.21 and a quick ratio of 1.21. The stock has a market cap of $4.64 billion, a PE ratio of -14.58 and a beta of 1.38. Lumen Technologies has a fifty-two week low of $0.97 and a fifty-two week high of $10.33.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in LUMN. Truist Financial Corp grew its stake in shares of Lumen Technologies by 68.1% in the fourth quarter. Truist Financial Corp now owns 21,577 shares of the technology company's stock worth $115,000 after acquiring an additional 8,741 shares in the last quarter. Atria Wealth Solutions Inc. acquired a new position in Lumen Technologies during the 4th quarter worth approximately $69,000. Los Angeles Capital Management LLC increased its position in shares of Lumen Technologies by 20.3% in the 4th quarter. Los Angeles Capital Management LLC now owns 14,760 shares of the technology company's stock valued at $78,000 after purchasing an additional 2,489 shares during the last quarter. Whipplewood Advisors LLC acquired a new stake in shares of Lumen Technologies in the 4th quarter valued at $67,000. Finally, Oppenheimer & Co. Inc. lifted its position in shares of Lumen Technologies by 8.7% during the 4th quarter. Oppenheimer & Co. Inc. now owns 39,037 shares of the technology company's stock worth $207,000 after purchasing an additional 3,109 shares during the last quarter. Institutional investors and hedge funds 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.