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

Shares of Lumen Technologies, Inc. (NYSE:LUMN - Get Free Report) have been assigned a consensus recommendation of "Reduce" from the nine brokerages that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $4.59.

LUMN has been the subject of a number of research reports. Wells Fargo & Company raised shares of Lumen Technologies from an "underweight" rating to an "equal weight" rating and set a $5.00 price target for the company in a research note on Friday, February 21st. Citigroup upgraded shares of Lumen Technologies from a "neutral" rating to a "buy" rating and cut their target price for the stock from $8.00 to $6.50 in a research report on Wednesday, February 26th. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $4.25 price target on shares of Lumen Technologies in a research report on Monday, February 10th.

Lumen Technologies Price Performance

Shares of Lumen Technologies stock traded up $0.02 during trading on Thursday, hitting $4.94. The stock had a trading volume of 19,781,005 shares, compared to its average volume of 18,354,377. Lumen Technologies has a 12 month low of $0.97 and a 12 month high of $10.33. The business's 50-day moving average is $5.01 and its 200 day moving average is $6.08. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 37.70. The firm has a market cap of $5.00 billion, a price-to-earnings ratio of -98.68 and a beta of 1.28.

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Lumen Technologies (NYSE:LUMN - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.05) by $0.14. Lumen Technologies had a negative return on equity of 46.17% and a negative net margin of 0.42%. As a group, sell-side analysts anticipate that Lumen Technologies will post -0.87 earnings per share for the current year.

Institutional Investors Weigh In On Lumen Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank bought a new position in Lumen Technologies during the 4th quarter worth approximately $63,638,000. Hennessy Advisors Inc. bought a new position in shares of Lumen Technologies in the fourth quarter worth approximately $45,089,000. Dimensional Fund Advisors LP increased its stake in shares of Lumen Technologies by 368.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,812,495 shares of the technology company's stock worth $52,111,000 after buying an additional 7,717,596 shares during the period. Renaissance Technologies LLC raised its holdings in Lumen Technologies by 76.3% during the 4th quarter. Renaissance Technologies LLC now owns 11,664,009 shares of the technology company's stock valued at $61,936,000 after buying an additional 5,049,709 shares during the last quarter. Finally, Millennium Management LLC boosted its position in Lumen Technologies by 474.8% during the 4th quarter. Millennium Management LLC now owns 5,744,368 shares of the technology company's stock valued at $30,503,000 after buying an additional 4,745,040 shares during the period. Institutional investors own 66.19% of the company's stock.

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.