Lumen Technologies (NYSE:LUMN - Get Free Report) was upgraded by equities research analysts at Citigroup from a "neutral" rating to a "buy" rating in a research report issued to clients and investors on Wednesday, Marketbeat.com reports. The brokerage presently has a $6.50 price target on the technology company's stock, down from their previous price target of $8.00. Citigroup's price target would indicate a potential upside of 37.86% from the stock's previous close.
Several other research firms have also commented on LUMN. The Goldman Sachs Group lifted their price target on Lumen Technologies from $4.50 to $5.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 6th. TD Cowen dropped 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. Wells Fargo & Company upgraded Lumen Technologies from an "underweight" rating to an "equal weight" rating and set a $5.00 target price for the company in a research report on Friday, February 21st. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $4.25 target price on shares of Lumen Technologies in a research report on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $4.59.
Read Our Latest Report on LUMN
Lumen Technologies Price Performance
Shares of Lumen Technologies stock traded up $0.21 during trading on Wednesday, reaching $4.72. 12,187,960 shares of the stock traded hands, compared to its average volume of 12,073,228. The company has a market capitalization of $4.78 billion, a price-to-earnings ratio of -94.28 and a beta of 1.28. The business has a fifty day simple moving average of $5.19 and a two-hundred day simple moving average of $6.15. 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 52-week low of $0.97 and a 52-week high of $10.33.
Lumen Technologies (NYSE:LUMN - Get Free Report) last issued 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 return on equity of 46.17% and a negative net margin of 0.42%. Sell-side analysts expect that Lumen Technologies will post -0.87 EPS for the current year.
Institutional Trading of Lumen Technologies
Institutional investors and hedge funds have recently modified their holdings of the stock. Empowered Funds LLC bought a new stake in shares of Lumen Technologies during the fourth quarter valued at approximately $1,139,000. Strategic Financial Concepts LLC raised its stake in Lumen Technologies by 430.7% in the fourth quarter. Strategic Financial Concepts LLC now owns 179,335 shares of the technology company's stock worth $952,000 after buying an additional 145,542 shares in the last quarter. Polianta Ltd bought a new position in Lumen Technologies in the fourth quarter worth approximately $692,000. Mariner Investment Group LLC bought a new position in Lumen Technologies in the fourth quarter worth approximately $531,000. Finally, Crossmark Global Holdings Inc. bought a new position in Lumen Technologies in the third quarter worth approximately $433,000. Institutional investors own 66.19% of the company's stock.
Lumen Technologies Company Profile
(
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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