Lumen Technologies, Inc. (NYSE:LUMN - Get Free Report)'s stock price rose 10.1% during mid-day trading on Tuesday . The company traded as high as $4.08 and last traded at $4.10. Approximately 3,889,203 shares were traded during trading, a decline of 80% from the average daily volume of 19,337,347 shares. The stock had previously closed at $3.72.
Analyst Upgrades and Downgrades
LUMN has been the topic of a number of analyst reports. Royal Bank of Canada restated a "sector perform" rating and set a $4.25 target price on shares of Lumen Technologies in a research report on Monday, February 10th. 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. Raymond James upgraded shares of Lumen Technologies from a "market perform" rating to an "outperform" rating and set a $4.50 price target on the stock in a research report on Monday, May 5th. Finally, Citigroup upgraded shares of Lumen Technologies from a "neutral" rating to a "buy" rating and reduced their price target 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, six have given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $4.58.
Check Out Our Latest Analysis on LUMN
Lumen Technologies Price Performance
The company's 50 day moving average price is $3.82 and its 200-day moving average price is $5.13. The stock has a market cap of $4.14 billion, a P/E ratio of -80.68 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 released its quarterly earnings results on Thursday, May 1st. The technology company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.16. The firm had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.12 billion. Lumen Technologies had a negative net margin of 0.42% and a negative return on equity of 46.17%. The company's revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.04) earnings per share. As a group, sell-side analysts expect that Lumen Technologies, Inc. will post -0.87 earnings per share for the current year.
Hedge Funds Weigh In On Lumen Technologies
A number of hedge funds have recently bought and sold shares of LUMN. Smartleaf Asset Management LLC increased its stake in Lumen Technologies by 173.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 6,745 shares of the technology company's stock valued at $36,000 after purchasing an additional 4,277 shares in the last quarter. Lazard Asset Management LLC boosted 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 acquiring an additional 7,307 shares during the last quarter. Conning Inc. bought a new stake in shares of Lumen Technologies in the first quarter valued at approximately $39,000. OneDigital Investment Advisors LLC bought a new stake in Lumen Technologies during the 1st quarter worth approximately $41,000. Finally, Meeder Advisory Services Inc. bought a new stake in Lumen Technologies during the 1st quarter worth approximately $41,000. Institutional investors own 66.19% of the company's stock.
About Lumen Technologies
(
Get Free Report)
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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