Lumen Technologies (NYSE:LUMN) Upgraded to Strong-Buy at Zacks Research

Lumen Technologies (NYSE:LUMN) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Thursday,Zacks.com reports.

Several other research firms have also commented on LUMN. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lumen Technologies in a research note on Wednesday, October 8th. The Goldman Sachs Group lifted their price target on Lumen Technologies from $4.10 to $4.60 and gave the company a “neutral” rating in a report on Friday, October 3rd. Wall Street Zen upgraded shares of Lumen Technologies from a “sell” rating to a “hold” rating in a report on Sunday, November 9th. Royal Bank Of Canada raised their target price on shares of Lumen Technologies from $4.25 to $8.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 25th. Finally, Citigroup lowered shares of Lumen Technologies from a “buy” rating to a “neutral” rating and set a $11.00 price target for the company. in a research report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $6.72.

Lumen Technologies Stock Performance

Shares of NYSE LUMN opened at $7.92 on Thursday. Lumen Technologies has a 1 year low of $3.01 and a 1 year high of $11.95. The firm’s 50 day moving average price is $8.42 and its 200 day moving average price is $6.50. The firm has a market cap of $8.12 billion, a P/E ratio of -4.80 and a beta of 1.46.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings results on Friday, January 27th. The technology company reported $0.49 earnings per share for the quarter. Lumen Technologies had a negative return on equity of 158.40% and a negative net margin of 13.02%.The company had revenue of $4.05 billion during the quarter. As a group, equities analysts predict that Lumen Technologies will post -0.87 EPS for the current year.

Institutional Trading of Lumen Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Lumen Technologies by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 602,705 shares of the technology company’s stock valued at $2,363,000 after buying an additional 26,305 shares in the last quarter. Empowered Funds LLC raised its stake in shares of Lumen Technologies by 26.8% in the 1st quarter. Empowered Funds LLC now owns 272,031 shares of the technology company’s stock valued at $1,066,000 after acquiring an additional 57,522 shares during the period. Woodline Partners LP acquired a new position in shares of Lumen Technologies during the 1st quarter valued at $5,006,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Lumen Technologies by 11.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,985,216 shares of the technology company’s stock worth $11,702,000 after purchasing an additional 300,328 shares during the period. Finally, Intech Investment Management LLC increased its holdings in Lumen Technologies by 24.7% in the 1st quarter. Intech Investment Management LLC now owns 1,221,905 shares of the technology company’s stock valued at $4,790,000 after purchasing an additional 242,418 shares in the last quarter. Institutional investors and hedge funds own 66.19% of the company’s stock.

Lumen Technologies Company Profile

Lumen Technologies is a multinational technology company specializing in integrated network, edge cloud, security and collaboration services for enterprise and public sector clients. The company’s core offerings include high-capacity fiber and IP-based connectivity, managed edge computing solutions designed to accelerate applications and data processing closer to end users, and cybersecurity services ranging from DDoS protection to unified threat management. Through its unified portfolio, Lumen enables organizations to support digital transformation initiatives, modernize infrastructure and enhance operational resilience.

Leveraging one of the largest fiber footprints in North America, as well as infrastructure in Latin America and parts of Europe, Lumen connects customers across more than 60 countries.