Lumen Technologies (NYSE:LUMN) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Lumen from a "sell" to a "hold" rating on Sunday, signaling a less negative view of the stock.
• Analyst sentiment is mixed—one Buy, five Hold and one Sell—with an average target price of $5.97; recent updates include Goldman raising its target to $4.60 and Raymond James to $5.00 while Citigroup set an $11 objective.
• Shares were down about 4.1% and opened at $10.50; the company has weak fundamentals (negative net margin of 9.19% and an expected -0.87 EPS for the year), but CFO Christopher Stansbury bought 40,000 shares at $4.44, increasing his stake.

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

Several other research firms have also commented on LUMN. The Goldman Sachs Group upped their target price on Lumen Technologies from $4.10 to $4.60 and gave the company a "neutral" rating in a report on Friday, October 3rd. Citigroup lowered Lumen Technologies from a "buy" rating to a "neutral" rating and set a $11.00 price objective for the company. in a research report on Friday, October 31st. Weiss Ratings restated a "sell (d-)" rating on shares of Lumen Technologies in a research note on Wednesday, October 8th. Finally, Raymond James Financial raised their target price on Lumen Technologies from $4.50 to $5.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $5.97.

Lumen Technologies Stock Down 4.1%

Shares of NYSE:LUMN opened at $10.50 on Friday. The company's fifty day moving average is $7.09 and its two-hundred day moving average is $5.21. The company has a debt-to-equity ratio of 59.98, a quick ratio of 2.13 and a current ratio of 2.13. Lumen Technologies has a 1-year low of $3.01 and a 1-year high of $11.95. The stock has a market capitalization of $10.76 billion, a price-to-earnings ratio of -8.89 and a beta of 1.45.

Lumen Technologies (NYSE:LUMN - Get Free Report) last posted its quarterly earnings results on Friday, January 27th. The technology company reported $0.49 EPS for the quarter. The business had revenue of $4.05 billion during the quarter. Lumen Technologies had a negative net margin of 9.19% and a negative return on equity of 158.40%. Equities analysts anticipate that Lumen Technologies will post -0.87 EPS for the current year.

Insider Transactions at Lumen Technologies

In other Lumen Technologies news, CFO Christopher Stansbury bought 40,000 shares of Lumen Technologies stock in a transaction dated Friday, August 15th. The stock was bought at an average price of $4.44 per share, for a total transaction of $177,600.00. Following the completion of the acquisition, the chief financial officer directly owned 535,000 shares of the company's stock, valued at approximately $2,375,400. This trade represents a 8.08% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Lumen Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in LUMN. Wealth Alliance LLC bought a new position in shares of Lumen Technologies in the 3rd quarter valued at approximately $86,000. Crestwood Advisors Group LLC bought a new stake in shares of Lumen Technologies in the third quarter valued at about $64,000. Vanguard Group Inc. raised its stake in shares of Lumen Technologies by 1.2% in the third quarter. Vanguard Group Inc. now owns 113,552,549 shares of the technology company's stock valued at $694,942,000 after purchasing an additional 1,295,177 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of Lumen Technologies by 24.5% during the 3rd quarter. Fifth Third Bancorp now owns 5,343 shares of the technology company's stock valued at $33,000 after acquiring an additional 1,051 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D raised its holdings in shares of Lumen Technologies by 0.6% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 493,518 shares of the technology company's stock worth $3,020,000 after buying an additional 3,038 shares in the last quarter. 66.19% of the stock is owned by hedge funds and other 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.

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