Lumen Technologies (NYSE:LUMN) Issues Quarterly Earnings Results

Lumen Technologies (NYSE:LUMN - Get Free Report) issued its earnings results on Tuesday. The technology company reported $0.09 earnings per share for the quarter, beating analysts' consensus estimates of ($0.05) by $0.14, Zacks reports. Lumen Technologies had a negative return on equity of 46.17% and a negative net margin of 0.42%.

Lumen Technologies Trading Down 0.7 %

NYSE LUMN traded down $0.04 during mid-day trading on Friday, reaching $4.98. 9,403,093 shares of the stock were exchanged, compared to its average volume of 13,235,418. The stock has a market cap of $5.05 billion, a P/E ratio of -99.48 and a beta of 1.28. The company has a debt-to-equity ratio of 37.70, a current ratio of 1.21 and a quick ratio of 1.20. Lumen Technologies has a one year low of $0.97 and a one year high of $10.33. The stock has a 50 day simple moving average of $5.71 and a 200-day simple moving average of $6.04.

Wall Street Analyst Weigh In

A number of analysts have weighed in on LUMN shares. The Goldman Sachs Group raised their target price on shares of Lumen Technologies from $4.50 to $5.00 and gave the company a "neutral" rating in a research report on Wednesday, November 6th. Citigroup boosted their price objective on Lumen Technologies from $6.50 to $8.00 and gave the stock a "neutral" rating in a research report on Friday, November 29th. Royal Bank of Canada reissued a "sector perform" rating and set a $4.25 price target (up from $4.00) on shares of Lumen Technologies in a research note on Friday, December 20th. Finally, TD Cowen lowered their price objective on Lumen Technologies from $7.00 to $6.00 and set a "hold" rating for the company in a research note on Wednesday, November 6th. Three investment analysts have rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat.com, Lumen Technologies currently has an average rating of "Hold" and an average target price of $4.66.

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.