Lumen Technologies (NYSE:LUMN) Receives Sector Perform Rating from Royal Bank of Canada

Royal Bank of Canada restated their sector perform rating on shares of Lumen Technologies (NYSE:LUMN - Free Report) in a research note released on Monday,Benzinga reports. Royal Bank of Canada currently has a $4.25 target price on the technology company's stock.

LUMN has been the subject of a number of other reports. The Goldman Sachs Group lifted 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 lifted their price objective on Lumen Technologies from $6.50 to $8.00 and gave the company a "neutral" rating in a report on Friday, November 29th. Finally, TD Cowen dropped their target price on shares of Lumen Technologies from $7.00 to $6.00 and set a "hold" rating on the stock in a report on Wednesday, November 6th. Three investment analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat.com, Lumen Technologies presently has an average rating of "Hold" and an average price target of $4.66.

Lumen Technologies Trading Up 1.4 %

Shares of NYSE:LUMN traded up $0.07 on Monday, hitting $4.73. 5,166,747 shares of the company's stock were exchanged, compared to its average volume of 12,171,434. The stock has a market capitalization of $4.79 billion, a price-to-earnings ratio of -94.48 and a beta of 1.28. Lumen Technologies has a 12 month low of $0.97 and a 12 month high of $10.33. The company has a debt-to-equity ratio of 37.70, a current ratio of 1.21 and a quick ratio of 1.20. The business's 50 day simple moving average is $5.59 and its two-hundred day simple moving average is $6.11.

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 for the quarter, beating 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%. Analysts anticipate that Lumen Technologies will post -0.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Stephens Inc. AR boosted its stake in Lumen Technologies by 7.7% in the third quarter. Stephens Inc. AR now owns 27,070 shares of the technology company's stock valued at $192,000 after acquiring an additional 1,935 shares in the last quarter. Concord Wealth Partners lifted its holdings in shares of Lumen Technologies by 98.8% during the 3rd quarter. Concord Wealth Partners now owns 4,008 shares of the technology company's stock valued at $28,000 after purchasing an additional 1,992 shares during the last quarter. US Bancorp DE boosted its position in shares of Lumen Technologies by 18.6% in the 3rd quarter. US Bancorp DE now owns 15,012 shares of the technology company's stock worth $107,000 after purchasing an additional 2,350 shares in the last quarter. O Shaughnessy Asset Management LLC grew its stake in Lumen Technologies by 7.7% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 34,225 shares of the technology company's stock worth $182,000 after buying an additional 2,457 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its position in Lumen Technologies by 20.3% during the 4th quarter. Los Angeles Capital Management LLC now owns 14,760 shares of the technology company's stock valued at $78,000 after buying an additional 2,489 shares in the last quarter. Hedge funds and other 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.