Lumen Technologies, Inc. (NYSE:LUMN) Receives $4.09 Consensus Target Price from Analysts

Shares of Lumen Technologies, Inc. (NYSE:LUMN - Get Free Report) have been given an average rating of "Reduce" by the eight research firms that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $4.09.

Several research firms recently issued reports on LUMN. Moffett Nathanson boosted their price target on Lumen Technologies from $1.00 to $3.00 and gave the company a "sell" rating in a research note on Wednesday, August 7th. UBS Group raised their price target on shares of Lumen Technologies from $1.50 to $5.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 7th. Wells Fargo & Company lowered shares of Lumen Technologies from an "equal weight" rating to an "underweight" rating and increased their target price for the stock from $1.75 to $4.00 in a research report on Friday, August 16th. Citigroup upgraded shares of Lumen Technologies from a "sell" rating to a "neutral" rating and lifted their price target for the company from $1.25 to $3.15 in a research report on Tuesday, August 6th. Finally, Bank of America increased their price target on Lumen Technologies from $1.00 to $2.00 and gave the stock an "underperform" rating in a research report on Thursday, August 8th.

Insider Activity

In other Lumen Technologies news, Director James Fowler acquired 10,000 shares of Lumen Technologies stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average cost of $4.70 per share, with a total value of $47,000.00. Following the completion of the purchase, the director now directly owns 384,056 shares of the company's stock, valued at $1,805,063.20. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.68% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in LUMN. Millennium Management LLC lifted its holdings in shares of Lumen Technologies by 129.8% during the second quarter. Millennium Management LLC now owns 7,854,906 shares of the technology company's stock worth $8,640,000 after purchasing an additional 4,436,710 shares during the period. Front Street Capital Management Inc. lifted its holdings in Lumen Technologies by 30.1% during the 2nd quarter. Front Street Capital Management Inc. now owns 11,661,112 shares of the technology company's stock worth $12,827,000 after buying an additional 2,697,423 shares during the period. Vanguard Group Inc. increased its stake in shares of Lumen Technologies by 1.7% in the first quarter. Vanguard Group Inc. now owns 120,303,220 shares of the technology company's stock valued at $187,673,000 after buying an additional 1,975,400 shares during the period. AQR Capital Management LLC raised its position in shares of Lumen Technologies by 52.5% during the second quarter. AQR Capital Management LLC now owns 3,621,874 shares of the technology company's stock worth $3,712,000 after acquiring an additional 1,246,289 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its stake in shares of Lumen Technologies by 364.0% in the second quarter. Squarepoint Ops LLC now owns 766,281 shares of the technology company's stock worth $843,000 after acquiring an additional 1,056,551 shares during the period. Institutional investors own 66.19% of the company's stock.

Lumen Technologies Stock Performance

Lumen Technologies stock traded down $0.17 during mid-day trading on Monday, hitting $6.57. 57,044,462 shares of the company's stock traded hands, compared to its average volume of 20,020,107. Lumen Technologies has a fifty-two week low of $0.78 and a fifty-two week high of $7.83. The stock has a market cap of $6.67 billion, a price-to-earnings ratio of -0.61 and a beta of 1.19. The firm has a 50 day simple moving average of $6.10 and a two-hundred day simple moving average of $3.15. The company has a debt-to-equity ratio of 39.51, a current ratio of 1.01 and a quick ratio of 1.01.

Lumen Technologies (NYSE:LUMN - Get Free Report) last announced its earnings results on Tuesday, August 6th. The technology company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.07). The company had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.25 billion. Lumen Technologies had a negative return on equity of 18.52% and a negative net margin of 15.06%. The business's quarterly revenue was down 10.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.10 EPS. On average, research analysts expect that Lumen Technologies will post -0.18 EPS for the current fiscal 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.