Lumen Technologies (NYSE:LUMN) Upgraded by Wall Street Zen to "Hold" Rating

Key Points

• Lumen Technologies' stock rating has been upgraded from a "sell" to a "hold" by Wall Street Zen, reflecting a cautious shift in investor sentiment.
• The company reported earnings of ($0.03) per share, surpassing analyst expectations of ($0.24), with quarterly revenue of $3.09 billion, which was slightly below estimates.
• Lumen Technologies has a current market cap of $3.80 billion and significant institutional ownership at 66.19%, indicating strong interest from larger investors.

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

A number of other research analysts have also recently commented on LUMN. BNP Paribas upgraded shares of Lumen Technologies to a "hold" rating in a research note on Wednesday, June 25th. Raymond James Financial boosted their price target on Lumen Technologies from $4.50 to $5.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $4.64.

Lumen Technologies Price Performance

Shares of NYSE:LUMN traded down $0.06 during trading on Friday, reaching $3.70. The company had a trading volume of 3,816,619 shares, compared to its average volume of 12,184,069. Lumen Technologies has a twelve month low of $3.01 and a twelve month high of $10.33. The company has a debt-to-equity ratio of 59.98, a quick ratio of 2.13 and a current ratio of 2.13. The firm's fifty day moving average is $4.26 and its 200 day moving average is $4.31. The firm has a market capitalization of $3.79 billion, a PE ratio of -3.13 and a beta of 1.43.

Lumen Technologies (NYSE:LUMN - Get Free Report) last released its earnings results on Thursday, July 31st. The technology company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.24) by $0.21. The company had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.11 billion. Lumen Technologies had a negative net margin of 9.19% and a negative return on equity of 158.40%. The company's revenue was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.13) EPS. On average, equities analysts forecast that Lumen Technologies will post -0.87 EPS for the current year.

Institutional Investors Weigh In On Lumen Technologies

Large investors have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC raised its position in shares of Lumen Technologies by 3.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 76,905 shares of the technology company's stock worth $408,000 after purchasing an additional 2,220 shares during the last quarter. O Shaughnessy Asset Management LLC increased its stake in shares of Lumen Technologies by 7.7% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 34,225 shares of the technology company's stock worth $182,000 after purchasing an additional 2,457 shares in the last quarter. HB Wealth Management LLC raised its stake in shares of Lumen Technologies by 23.6% in the first quarter. HB Wealth Management LLC now owns 13,715 shares of the technology company's stock worth $54,000 after buying an additional 2,619 shares during the period. Bank of Nova Scotia boosted its position in shares of Lumen Technologies by 28.6% in the fourth quarter. Bank of Nova Scotia now owns 13,788 shares of the technology company's stock worth $73,000 after purchasing an additional 3,069 shares during the period. Finally, Farther Finance Advisors LLC raised its holdings in Lumen Technologies by 132.3% during the second quarter. Farther Finance Advisors LLC now owns 5,954 shares of the technology company's stock valued at $26,000 after acquiring an additional 3,391 shares during the period. 66.19% of the stock is currently owned by institutional investors.

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.