Lumen Technologies, Inc. (NYSE:LUMN) Given Consensus Recommendation of "Reduce" by Brokerages

Lumen Technologies, Inc. (NYSE:LUMN - Get Free Report) has been given a consensus rating of "Reduce" by the eight analysts that are covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $4.71.

LUMN has been the topic of several research analyst reports. TD Cowen dropped their price target on Lumen Technologies from $7.00 to $6.00 and set a "hold" rating on the stock in a research note on Wednesday, November 6th. The Goldman Sachs Group lifted their target price on Lumen Technologies from $4.50 to $5.00 and gave the stock a "neutral" rating in a report on Wednesday, November 6th. Wells Fargo & Company downgraded shares of Lumen Technologies from an "equal weight" rating to an "underweight" rating and increased their price target for the stock from $1.75 to $4.00 in a report on Friday, August 16th. Finally, Citigroup lifted their price objective on shares of Lumen Technologies from $6.50 to $8.00 and gave the company a "neutral" rating in a research note on Friday, November 29th.

Institutional Investors Weigh In On Lumen Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC raised its stake in shares of Lumen Technologies by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 23,344,313 shares of the technology company's stock worth $165,776,000 after buying an additional 383,693 shares during the period. Front Street Capital Management Inc. raised its position in Lumen Technologies by 30.1% during the second quarter. Front Street Capital Management Inc. now owns 11,661,112 shares of the technology company's stock worth $12,827,000 after acquiring an additional 2,697,423 shares during the period. Renaissance Technologies LLC lifted its holdings in Lumen Technologies by 11.6% during the second quarter. Renaissance Technologies LLC now owns 8,873,803 shares of the technology company's stock valued at $9,761,000 after purchasing an additional 919,300 shares in the last quarter. Millennium Management LLC grew its position in shares of Lumen Technologies by 129.8% in the second quarter. Millennium Management LLC now owns 7,854,906 shares of the technology company's stock valued at $8,640,000 after purchasing an additional 4,436,710 shares during the period. Finally, AQR Capital Management LLC increased its stake in shares of Lumen Technologies by 52.5% during the second quarter. AQR Capital Management LLC now owns 3,621,874 shares of the technology company's stock worth $3,712,000 after purchasing an additional 1,246,289 shares in the last quarter. Institutional investors and hedge funds own 66.19% of the company's stock.

Lumen Technologies Stock Down 4.1 %

Shares of LUMN traded down $0.26 during mid-day trading on Tuesday, hitting $6.24. 10,097,682 shares of the company traded hands, compared to its average volume of 19,453,977. The company has a market capitalization of $6.33 billion, a PE ratio of -3.00 and a beta of 1.21. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 53.05. The business has a 50 day moving average of $7.20 and a 200 day moving average of $4.72. Lumen Technologies has a 1-year low of $0.97 and a 1-year high of $10.33.

Lumen Technologies (NYSE:LUMN - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.04). Lumen Technologies had a negative net margin of 16.06% and a negative return on equity of 49.74%. The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.21 billion. During the same quarter in the previous year, the company posted ($0.09) EPS. The company's revenue for the quarter was down 11.5% compared to the same quarter last year. Equities research analysts anticipate that Lumen Technologies will post -0.38 EPS for the current year.

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.