Lumen Technologies (NYSE:LUMN) Announces Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Lumen Technologies (NYSE:LUMN - Get Free Report) announced its quarterly earnings results on Tuesday. The technology company reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.01), Briefing.com reports. The company had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.38 billion. Lumen Technologies had a positive return on equity of 4.85% and a negative net margin of 70.74%. The business's revenue was down 12.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.10 earnings per share.

Lumen Technologies Stock Performance

NYSE LUMN traded up $0.02 during trading hours on Wednesday, hitting $1.21. 16,415,767 shares of the company's stock traded hands, compared to its average volume of 12,846,627. The business's fifty day moving average price is $1.50 and its two-hundred day moving average price is $1.48. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 47.56. The firm has a market capitalization of $1.22 billion, a P/E ratio of -0.11 and a beta of 1.10. Lumen Technologies has a 52 week low of $0.78 and a 52 week high of $2.70.

Insider Activity at Lumen Technologies

In other news, Director James Fowler purchased 30,000 shares of the stock in a transaction on Friday, February 9th. The shares were acquired at an average price of $1.50 per share, with a total value of $45,000.00. Following the completion of the acquisition, the director now directly owns 183,038 shares of the company's stock, valued at $274,557. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director James Fowler purchased 30,000 shares of the stock in a transaction on Friday, February 9th. The shares were acquired at an average price of $1.50 per share, with a total value of $45,000.00. Following the completion of the acquisition, the director now directly owns 183,038 shares of the company's stock, valued at $274,557. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director T Michael Glenn purchased 50,000 shares of the stock in a transaction on Monday, February 26th. The shares were purchased at an average cost of $1.47 per share, for a total transaction of $73,500.00. Following the acquisition, the director now directly owns 272,019 shares of the company's stock, valued at $399,867.93. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 113,500 shares of company stock worth $174,780. 1.68% of the stock is owned by company insiders.

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.