Lumen Technologies, Inc. (NYSE:LUMN) Receives Average Rating of “Hold” from Analysts

Lumen Technologies, Inc. (NYSE:LUMN) has been assigned a consensus rating of “Hold” from the eight brokerages that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $7.25.

Several brokerages have recently weighed in on LUMN. Raymond James Financial restated a “market perform” rating on shares of Lumen Technologies in a report on Wednesday, February 4th. The Goldman Sachs Group boosted their price target on shares of Lumen Technologies from $5.50 to $7.25 and gave the stock a “neutral” rating in a research report on Wednesday, February 4th. Citigroup cut their price target on shares of Lumen Technologies from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Thursday, February 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lumen Technologies in a research note on Thursday, January 22nd. Finally, UBS Group increased their target price on shares of Lumen Technologies from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Thursday, February 5th.

Insiders Place Their Bets

In other news, Director Diankha Linear sold 45,000 shares of the stock in a transaction on Friday, February 20th. The stock was sold at an average price of $7.89, for a total transaction of $355,050.00. Following the completion of the sale, the director owned 198,229 shares in the company, valued at approximately $1,564,026.81. This represents a 18.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kathleen E. Johnson bought 78,685 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The stock was bought at an average price of $6.35 per share, for a total transaction of $499,649.75. Following the completion of the acquisition, the chief executive officer directly owned 8,562,582 shares in the company, valued at approximately $54,372,395.70. The trade was a 0.93% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 2.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its stake in Lumen Technologies by 324.7% during the 4th quarter. JPMorgan Chase & Co. now owns 22,211,742 shares of the technology company’s stock valued at $172,585,000 after purchasing an additional 16,981,326 shares during the period. Norges Bank purchased a new position in shares of Lumen Technologies during the fourth quarter valued at $106,557,000. Price T Rowe Associates Inc. MD raised its position in Lumen Technologies by 737.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,043,124 shares of the technology company’s stock valued at $62,496,000 after buying an additional 7,082,560 shares during the period. Trexquant Investment LP raised its position in Lumen Technologies by 481.2% during the fourth quarter. Trexquant Investment LP now owns 5,605,410 shares of the technology company’s stock valued at $43,554,000 after buying an additional 4,640,911 shares during the period. Finally, Curi Capital LLC purchased a new stake in Lumen Technologies in the 2nd quarter worth about $14,144,000. 66.19% of the stock is currently owned by institutional investors and hedge funds.

Lumen Technologies Trading Down 0.2%

LUMN stock opened at $6.97 on Monday. The firm’s 50-day moving average is $7.36 and its two-hundred day moving average is $7.77. The company has a market capitalization of $7.18 billion, a price-to-earnings ratio of -4.01 and a beta of 1.52. Lumen Technologies has a 52 week low of $3.01 and a 52 week high of $11.95.

Lumen Technologies (NYSE:LUMN) last announced its earnings results on Tuesday, February 3rd. The technology company reported $0.23 EPS for the quarter, topping the consensus estimate of ($0.21) by $0.44. The firm had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same period in the previous year, the firm earned $0.09 EPS. Lumen Technologies’s revenue for the quarter was down 8.7% on a year-over-year basis. On average, equities research analysts predict that Lumen Technologies will post -0.87 earnings per share for the current year.

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.