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

Shares of Lumen Technologies, Inc. (NYSE:LUMN - Get Free Report) have been assigned an average recommendation of "Reduce" from the nine research firms that are currently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $4.66.

Several equities research analysts have recently weighed in on the company. 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. Citigroup upped their price target on Lumen Technologies from $6.50 to $8.00 and gave the stock a "neutral" rating in a report on Friday, November 29th. The Goldman Sachs Group lifted their price objective on shares of Lumen Technologies from $4.50 to $5.00 and gave the company a "neutral" rating in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada restated a "sector perform" rating and issued a $4.25 target price (up from $4.00) on shares of Lumen Technologies in a research note on Friday, December 20th.

Lumen Technologies Trading Up 3.2 %

NYSE LUMN traded up $0.16 during mid-day trading on Wednesday, hitting $5.03. The company's stock had a trading volume of 20,223,489 shares, compared to its average volume of 11,755,111. The firm has a market capitalization of $5.10 billion, a P/E ratio of -2.32 and a beta of 1.28. The company has a debt-to-equity ratio of 53.05, a current ratio of 1.20 and a quick ratio of 1.20. Lumen Technologies has a 52-week low of $0.97 and a 52-week high of $10.33. The stock's fifty day simple moving average is $5.85 and its two-hundred day simple moving average is $6.00.

Lumen Technologies (NYSE:LUMN - Get Free Report) last posted its earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.14. Lumen Technologies had a negative net margin of 16.06% and a negative return on equity of 49.74%. Research analysts expect that Lumen Technologies will post -0.38 EPS for the current year.

Institutional Investors Weigh In On Lumen Technologies

A number of institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC boosted its holdings in Lumen Technologies by 1.7% in the third quarter. Geode Capital Management LLC now owns 23,344,313 shares of the technology company's stock worth $165,776,000 after purchasing an additional 383,693 shares during the period. Hennessy Advisors Inc. acquired a new position in shares of Lumen Technologies in the 4th quarter valued at about $45,089,000. Millennium Management LLC grew its position in shares of Lumen Technologies by 129.8% during the 2nd quarter. Millennium Management LLC now owns 7,854,906 shares of the technology company's stock valued at $8,640,000 after buying an additional 4,436,710 shares during the last quarter. Allianz Asset Management GmbH raised its stake in Lumen Technologies by 28.1% during the fourth quarter. Allianz Asset Management GmbH now owns 7,790,277 shares of the technology company's stock worth $41,366,000 after acquiring an additional 1,710,373 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in Lumen Technologies by 2.7% in the fourth quarter. Principal Financial Group Inc. now owns 4,921,381 shares of the technology company's stock worth $26,133,000 after acquiring an additional 128,172 shares during the last quarter. Institutional investors and hedge funds 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.