Lumen Technologies (NYSE:LUMN) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Lumen Technologies from “hold” to “sell.” The broader analyst consensus is “Reduce,” with nine hold ratings and one sell rating and an average price target of $8.32.
• Lumen opened at $6.36, below its 50-day and 200-day moving averages of $7.83 and $7.90, respectively. The stock has traded between $3.37 and $11.95 over the past year.
• The company reported a quarterly loss of $0.47 per share, missing estimates by $0.34, while revenue of $2.90 billion exceeded expectations but declined 8.9% year over year.

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 report released on Saturday.

Other equities research analysts have also issued research reports about the company. UBS Group upped their price objective on Lumen Technologies from $6.00 to $8.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 6th. Zacks Research cut shares of Lumen Technologies from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 5th. Wells Fargo & Company increased their price target on shares of Lumen Technologies from $8.00 to $9.00 and gave the stock an "equal weight" rating in a report on Friday, May 8th. Weiss Ratings restated a "sell (d-)" rating on shares of Lumen Technologies in a research report on Friday, July 17th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Lumen Technologies from $6.00 to $7.00 and gave the company a "neutral" rating in a report on Monday, May 11th. Nine analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Lumen Technologies presently has a consensus rating of "Reduce" and a consensus target price of $8.32.

Lumen Technologies Stock Performance

NYSE LUMN opened at $6.36 on Friday. The firm has a market capitalization of $6.55 billion, a P/E ratio of -3.66 and a beta of 1.75. The stock has a 50-day simple moving average of $7.83 and a two-hundred day simple moving average of $7.90. Lumen Technologies has a fifty-two week low of $3.37 and a fifty-two week high of $11.95.

Lumen Technologies (NYSE:LUMN - Get Free Report) last issued its earnings results on Tuesday, May 5th. The technology company reported ($0.47) EPS for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.34). The firm had revenue of $2.90 billion during the quarter, compared to analysts' expectations of $2.83 billion. The firm's revenue was down 8.9% on a year-over-year basis. During the same quarter last year, the firm earned ($0.13) EPS. As a group, analysts forecast that Lumen Technologies will post -0.39 earnings per share for the current year.

Hedge Funds Weigh In On Lumen Technologies

A number of large investors have recently added to or reduced their stakes in the stock. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in shares of Lumen Technologies by 210.6% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 562,520 shares of the technology company's stock worth $4,372,000 after acquiring an additional 381,391 shares during the period. CapWealth Advisors LLC grew its holdings in shares of Lumen Technologies by 3.2% in the fourth quarter. CapWealth Advisors LLC now owns 6,699,685 shares of the technology company's stock valued at $52,057,000 after purchasing an additional 204,970 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Lumen Technologies by 8.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 7,954,306 shares of the technology company's stock worth $55,282,000 after purchasing an additional 610,364 shares during the last quarter. October Effect Ltd purchased a new position in Lumen Technologies during the fourth quarter worth about $1,476,000. Finally, SG Americas Securities LLC purchased a new position in Lumen Technologies during the fourth quarter worth about $2,709,000. 66.19% of the stock is currently owned by institutional investors and hedge funds.

About Lumen Technologies

Lumen Technologies is a multinational technology company specializing in integrated network, edge cloud, security and collaboration services for enterprise and public sector clients. The company's core offerings include high-capacity fiber and IP-based connectivity, managed edge computing solutions designed to accelerate applications and data processing closer to end users, and cybersecurity services ranging from DDoS protection to unified threat management. Through its unified portfolio, Lumen enables organizations to support digital transformation initiatives, modernize infrastructure and enhance operational resilience.

Leveraging one of the largest fiber footprints in North America, as well as infrastructure in Latin America and parts of Europe, Lumen connects customers across more than 60 countries.

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