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

Lumen Technologies, Inc. (NYSE:LUMN - Get Free Report) has earned an average recommendation of "Reduce" from the nine research firms that are covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating and six have issued a hold rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $4.66.

Several analysts have recently weighed in on LUMN shares. Citigroup lifted their price target 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. TD Cowen decreased their target price on Lumen Technologies from $7.00 to $6.00 and set a "hold" rating for the company in a research report on Wednesday, November 6th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $4.25 target price (up from $4.00) on shares of Lumen Technologies in a report on Friday, December 20th. Finally, The Goldman Sachs Group raised their price target on Lumen Technologies from $4.50 to $5.00 and gave the company a "neutral" rating in a research note on Wednesday, November 6th.

Lumen Technologies Trading Up 0.9 %

NYSE LUMN traded up $0.05 during trading on Friday, hitting $5.66. The stock had a trading volume of 6,765,750 shares, compared to its average volume of 8,508,275. Lumen Technologies has a one year low of $0.97 and a one year high of $10.33. The stock has a 50 day simple moving average of $7.00 and a 200 day simple moving average of $5.31. The stock has a market capitalization of $5.74 billion, a price-to-earnings ratio of -2.61 and a beta of 1.28. The company has a debt-to-equity ratio of 53.05, a quick ratio of 1.20 and a current ratio of 1.20.

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 return on equity of 49.74% and a negative net margin of 16.06%. The business had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.21 billion. During the same period in the prior year, the business posted ($0.09) earnings per share. Lumen Technologies's revenue was down 11.5% on a year-over-year basis. Sell-side analysts predict that Lumen Technologies will post -0.38 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Franklin Resources Inc. boosted its position in shares of Lumen Technologies by 66.8% in the 3rd quarter. Franklin Resources Inc. now owns 560,793 shares of the technology company's stock worth $3,982,000 after purchasing an additional 224,506 shares in the last quarter. Virtu Financial LLC acquired a new stake in Lumen Technologies in the third quarter worth about $473,000. Neo Ivy Capital Management purchased a new stake in shares of Lumen Technologies during the third quarter worth about $570,000. Coldstream Capital Management Inc. acquired a new position in shares of Lumen Technologies during the third quarter valued at about $125,000. Finally, Geode Capital Management LLC raised its position in shares of Lumen Technologies by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 23,344,313 shares of the technology company's stock valued at $165,776,000 after purchasing an additional 383,693 shares during the last quarter. Hedge funds and other 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.