Lumen Technologies, Inc. (NYSE:LUMN) Receives $4.66 Consensus Target Price from Brokerages

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

A number of equities analysts have recently commented on LUMN shares. Royal Bank of Canada reiterated a "sector perform" rating and set a $4.25 price target (up previously from $4.00) on shares of Lumen Technologies in a report on Friday, December 20th. The Goldman Sachs Group boosted their target price on Lumen Technologies from $4.50 to $5.00 and gave the company a "neutral" rating in a research report on Wednesday, November 6th. Citigroup increased their price target on Lumen Technologies from $6.50 to $8.00 and gave the company a "neutral" rating in a research report on Friday, November 29th. Finally, TD Cowen lowered their target price 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.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Sanctuary Advisors LLC purchased a new stake in Lumen Technologies during the 2nd quarter valued at $25,000. Concord Wealth Partners lifted its holdings in Lumen Technologies by 98.8% in the third quarter. Concord Wealth Partners now owns 4,008 shares of the technology company's stock valued at $28,000 after acquiring an additional 1,992 shares during the period. Legacy Investment Solutions LLC purchased a new position in Lumen Technologies in the third quarter worth about $30,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Lumen Technologies during the 3rd quarter valued at about $36,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of Lumen Technologies during the 3rd quarter valued at about $46,000. 66.19% of the stock is owned by hedge funds and other institutional investors.

Lumen Technologies Stock Performance

NYSE:LUMN traded down $0.08 during mid-day trading on Wednesday, hitting $4.93. The stock had a trading volume of 12,737,572 shares, compared to its average volume of 9,482,760. Lumen Technologies has a twelve month low of $0.97 and a twelve month high of $10.33. The stock has a market cap of $5.00 billion, a price-to-earnings ratio of -2.27 and a beta of 1.28. The company's 50 day simple moving average is $5.96 and its 200 day simple moving average is $5.92. 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) 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 company had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.21 billion. The firm's revenue for the quarter was down 11.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.09) EPS. On average, equities research analysts forecast that Lumen Technologies will post -0.38 earnings per share 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.