Brokerages expect that Lumen Technologies, Inc. (NYSE:LUMN) will post $4.93 billion in sales for the current quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Lumen Technologies' earnings. The highest sales estimate is $4.99 billion and the lowest is $4.88 billion. Lumen Technologies posted sales of $5.17 billion during the same quarter last year, which suggests a negative year over year growth rate of 4.6%. The company is expected to issue its next earnings results on Wednesday, November 3rd.
According to Zacks, analysts expect that Lumen Technologies will report full-year sales of $19.81 billion for the current fiscal year, with estimates ranging from $19.68 billion to $19.97 billion. For the next year, analysts anticipate that the firm will report sales of $18.39 billion, with estimates ranging from $17.49 billion to $19.13 billion. Zacks' sales calculations are an average based on a survey of sell-side research analysts that cover Lumen Technologies.
Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings results on Tuesday, August 3rd. The technology company reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of $0.43 by $0.05. Lumen Technologies had a negative net margin of 4.65% and a positive return on equity of 16.28%. The company had revenue of $4.92 billion during the quarter, compared to analyst estimates of $5 billion.
LUMN has been the topic of a number of recent research reports. Morgan Stanley decreased their target price on Lumen Technologies from $12.10 to $11.00 and set an "underweight" rating on the stock in a report on Monday, August 23rd. Oppenheimer restated a "market perform" rating on shares of Lumen Technologies in a research report on Wednesday, May 26th. Finally, Zacks Investment Research upgraded Lumen Technologies from a "sell" rating to a "hold" rating and set a $14.00 target price for the company in a research report on Thursday, August 5th.
LUMN stock opened at $12.50 on Wednesday. The business has a 50 day moving average of $12.40 and a 200 day moving average of $13.27. The firm has a market cap of $13.82 billion, a PE ratio of -14.20 and a beta of 1.05. Lumen Technologies has a twelve month low of $8.51 and a twelve month high of $16.60. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 2.44.
The business also recently announced a quarterly dividend, which was paid on Friday, September 10th. Shareholders of record on Monday, August 30th were paid a $0.25 dividend. The ex-dividend date was Friday, August 27th. This represents a $1.00 dividend on an annualized basis and a yield of 8.00%. Lumen Technologies's dividend payout ratio is currently 59.88%.
In other Lumen Technologies news, Director Steven T. Clontz bought 5,000 shares of the business's stock in a transaction on Monday, August 23rd. The shares were acquired at an average price of $11.98 per share, with a total value of $59,900.00. Following the transaction, the director now owns 297,515 shares of the company's stock, valued at approximately $3,564,229.70. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.60% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC lifted its holdings in Lumen Technologies by 114.1% in the first quarter. FMR LLC now owns 2,433,165 shares of the technology company's stock valued at $29,174,000 after acquiring an additional 1,296,573 shares during the period. US Bancorp DE boosted its stake in shares of Lumen Technologies by 2.0% during the 1st quarter. US Bancorp DE now owns 49,340 shares of the technology company's stock worth $659,000 after acquiring an additional 977 shares in the last quarter. Signaturefd LLC grew its position in shares of Lumen Technologies by 84.8% during the 1st quarter. Signaturefd LLC now owns 6,504 shares of the technology company's stock valued at $87,000 after acquiring an additional 2,984 shares during the period. Raymond James Trust N.A. acquired a new position in Lumen Technologies in the 1st quarter worth about $165,000. Finally, Daiwa Securities Group Inc. boosted its position in Lumen Technologies by 3.2% during the first quarter. Daiwa Securities Group Inc. now owns 47,892 shares of the technology company's stock worth $639,000 after purchasing an additional 1,482 shares in the last quarter. Institutional investors own 75.50% of the company's stock.
Lumen Technologies Company Profile
Lumen Technologies, Inc is an investment holding company, which engages in the provision of integrated communications to residential and business customers. It operates through the following segments: International and Global Accounts Management, Enterprise, Small and Medium Business, Wholesale, and Consumer.
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