Lumen Technologies, Inc. (NYSE:LUMN - Get Free Report) shares fell 14.4% during mid-day trading on Monday . The stock traded as low as $5.08 and last traded at $5.07. 5,835,203 shares were traded during trading, a decline of 31% from the average session volume of 8,499,087 shares. The stock had previously closed at $5.92.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on LUMN. TD Cowen lowered their target price on shares of Lumen Technologies from $7.00 to $6.00 and set a "hold" rating on the stock in a research note on Wednesday, November 6th. Citigroup upped their target price on shares of Lumen Technologies from $6.50 to $8.00 and gave the company a "neutral" rating in a research note on Friday, November 29th. Royal Bank of Canada restated a "sector perform" rating and set a $4.25 target price (up previously from $4.00) on shares of Lumen Technologies in a research note on Friday, December 20th. Finally, The Goldman Sachs Group upped their target price 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. Three research analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $4.66.
Check Out Our Latest Stock Report on LUMN
Lumen Technologies Stock Down 1.5 %
The company's 50 day moving average price is $5.96 and its two-hundred day moving average price is $5.92. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 53.05. The stock has a market cap of $5.00 billion, a P/E ratio of -2.27 and a beta of 1.28.
Lumen Technologies (NYSE:LUMN - Get Free Report) last released its earnings results on Tuesday, November 5th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.04). The firm had revenue of $3.22 billion during the quarter, compared to analysts' expectations of $3.21 billion. Lumen Technologies had a negative return on equity of 49.74% and a negative net margin of 16.06%. The company's revenue was down 11.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.09) earnings per share. Equities analysts forecast that Lumen Technologies, Inc. will post -0.38 earnings per share for the current year.
Institutional Investors Weigh In On Lumen Technologies
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Polianta Ltd purchased a new stake in Lumen Technologies during the 4th quarter valued at approximately $692,000. Mariner Investment Group LLC purchased a new stake in Lumen Technologies during the 4th quarter valued at approximately $531,000. Crossmark Global Holdings Inc. purchased a new stake in Lumen Technologies during the 3rd quarter valued at approximately $433,000. Quantbot Technologies LP bought a new position in shares of Lumen Technologies during the 3rd quarter valued at approximately $733,000. Finally, Congress Asset Management Co. bought a new position in shares of Lumen Technologies during the 3rd quarter valued at approximately $2,592,000. 66.19% of the stock is owned by hedge funds and other institutional investors.
About Lumen Technologies
(
Get Free Report)
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.
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