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

Lumen Technologies (NYSE:LUMN - Get Free Report) was upgraded by BNP Paribas to a "hold" rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

LUMN has been the subject of a number of other reports. Raymond James Financial upgraded shares of 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. Citigroup upgraded Lumen Technologies from a "neutral" rating to a "buy" rating and decreased their price target for the stock from $8.00 to $6.50 in a research note on Wednesday, February 26th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $4.58.

Lumen Technologies Stock Performance

Shares of LUMN stock opened at $4.53 on Wednesday. Lumen Technologies has a fifty-two week low of $0.97 and a fifty-two week high of $10.33. The stock's 50-day moving average is $3.97 and its two-hundred day moving average is $4.57. 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 firm has a market cap of $4.65 billion, a P/E ratio of -14.62 and a beta of 1.38.

Lumen Technologies (NYSE:LUMN - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The technology company reported ($0.13) EPS for the quarter, topping analysts' consensus estimates of ($0.29) by $0.16. The firm 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 75.08% and a negative net margin of 2.41%. The firm's revenue was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.04) earnings per share. Analysts predict that Lumen Technologies will post -0.87 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lumen Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC increased its stake in shares of Lumen Technologies by 173.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 6,745 shares of the technology company's stock valued at $36,000 after acquiring an additional 4,277 shares during the last quarter. Lazard Asset Management LLC increased its stake in Lumen Technologies by 3,825.7% in the fourth quarter. Lazard Asset Management LLC now owns 7,498 shares of the technology company's stock valued at $39,000 after purchasing an additional 7,307 shares in the last quarter. Conning Inc. acquired a new stake in Lumen Technologies in the first quarter worth $39,000. OneDigital Investment Advisors LLC bought a new position in shares of Lumen Technologies during the first quarter worth $41,000. Finally, Meeder Advisory Services Inc. acquired a new position in shares of Lumen Technologies in the 1st quarter valued at $41,000. 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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