Lumen Technologies (NYSE:LUMN) Upgraded at Raymond James

Lumen Technologies (NYSE:LUMN - Get Free Report) was upgraded by equities research analysts at Raymond James from a "market perform" rating to an "outperform" rating in a research report issued on Monday, MarketBeat reports. The firm currently has a $4.50 target price on the technology company's stock. Raymond James' price objective would indicate a potential upside of 8.15% from the stock's previous close.

LUMN has been the topic of several other research reports. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $4.25 price objective on shares of Lumen Technologies in a report on Monday, February 10th. Citigroup upgraded shares of Lumen Technologies from a "neutral" rating to a "buy" rating and dropped their target price for the stock from $8.00 to $6.50 in a report on Wednesday, February 26th. Finally, Wells Fargo & Company upgraded Lumen Technologies from an "underweight" rating to an "equal weight" rating and set a $5.00 price objective for the company in a report on Friday, February 21st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $4.58.

Lumen Technologies Stock Performance

Shares of NYSE LUMN traded down $0.07 during mid-day trading on Monday, hitting $4.16. The company had a trading volume of 9,110,446 shares, compared to its average volume of 19,186,911. Lumen Technologies has a 12 month low of $0.97 and a 12 month high of $10.33. The firm has a market cap of $4.27 billion, a P/E ratio of -83.20 and a beta of 1.34. The business's 50-day simple moving average is $4.04 and its 200-day simple moving average is $5.42. The company has a debt-to-equity ratio of 37.70, a current ratio of 1.21 and a quick ratio of 1.20.

Lumen Technologies (NYSE:LUMN - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The technology company reported ($0.13) earnings per share for the quarter, beating analysts' consensus estimates of ($0.29) by $0.16. Lumen Technologies had a negative return on equity of 46.17% and a negative net margin of 0.42%. The company had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.12 billion. During the same period in the previous year, the business earned ($0.04) earnings per share. The company's quarterly revenue was down 3.3% on a year-over-year basis. As a group, analysts predict that Lumen Technologies will post -0.87 earnings per share for the current fiscal year.

Institutional Trading of Lumen Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. boosted its holdings in shares of Lumen Technologies by 66.8% during the third quarter. Franklin Resources Inc. now owns 560,793 shares of the technology company's stock worth $3,982,000 after acquiring an additional 224,506 shares during the period. Diversified Trust Co acquired a new position in Lumen Technologies in the 4th quarter valued at $482,000. Assenagon Asset Management S.A. lifted its holdings in shares of Lumen Technologies by 8.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 935,386 shares of the technology company's stock worth $4,967,000 after buying an additional 73,841 shares in the last quarter. Hennessy Advisors Inc. bought a new stake in shares of Lumen Technologies in the fourth quarter valued at about $45,089,000. Finally, Merit Financial Group LLC acquired a new position in shares of Lumen Technologies in the fourth quarter valued at about $111,000. Institutional investors own 66.19% of the company's stock.

About Lumen Technologies

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.