Lumen Technologies, Inc. (NYSE:LUMN) Receives Average Rating of "Reduce" from Analysts

Shares of Lumen Technologies, Inc. (NYSE:LUMN - Get Free Report) have been assigned an average recommendation of "Reduce" from the nine analysts that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, six have given a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $4.59.

A number of research firms have recently weighed in on LUMN. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $4.25 price objective on shares of Lumen Technologies in a research note on Monday, February 10th. Wells Fargo & Company upgraded 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. Finally, Citigroup upgraded shares of Lumen Technologies from a "neutral" rating to a "buy" rating and reduced their price objective for the company from $8.00 to $6.50 in a research report on Wednesday, February 26th.

Institutional Investors Weigh In On Lumen Technologies

A number of hedge funds have recently bought and sold shares of the business. Legacy Investment Solutions LLC purchased a new stake in shares of Lumen Technologies during the 3rd quarter valued at about $30,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Lumen Technologies during the third quarter worth approximately $36,000. Smartleaf Asset Management LLC lifted its stake in shares of Lumen Technologies by 173.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 6,745 shares of the technology company's stock valued at $36,000 after purchasing an additional 4,277 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in shares of Lumen Technologies by 3,825.7% in the 4th quarter. Lazard Asset Management LLC now owns 7,498 shares of the technology company's stock worth $39,000 after purchasing an additional 7,307 shares during the period. Finally, R Squared Ltd bought a new position in shares of Lumen Technologies during the 4th quarter valued at approximately $48,000. Hedge funds and other institutional investors own 66.19% of the company's stock.

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Lumen Technologies Stock Performance

Lumen Technologies stock traded down $0.48 during midday trading on Thursday, hitting $4.38. The stock had a trading volume of 44,603,187 shares, compared to its average volume of 18,337,033. Lumen Technologies has a 52-week low of $0.97 and a 52-week high of $10.33. The company has a market capitalization of $4.44 billion, a PE ratio of -87.58 and a beta of 1.28. The firm's fifty day moving average is $4.98 and its two-hundred day moving average is $6.07. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 37.70.

Lumen Technologies (NYSE:LUMN - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.05) by $0.14. Lumen Technologies had a negative net margin of 0.42% and a negative return on equity of 46.17%. On average, research analysts forecast that Lumen Technologies will post -0.87 EPS for the current year.

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.