Lumen Technologies, Inc. (NYSE:LUMN) Given Average Rating of “Reduce” by Brokerages

Shares of Lumen Technologies, Inc. (NYSE:LUMN) have earned a consensus rating of “Reduce” from the eleven brokerages that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation and ten have issued a hold recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $7.9063.

A number of analysts have recently commented on LUMN shares. Zacks Research downgraded Lumen Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. UBS Group boosted their price objective on Lumen Technologies from $6.00 to $8.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. TD Cowen boosted their price objective on Lumen Technologies from $8.00 to $9.00 and gave the stock a “hold” rating in a research note on Wednesday, May 6th. Wall Street Zen raised Lumen Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, May 3rd. Finally, JPMorgan Chase & Co. boosted their price objective on Lumen Technologies from $6.00 to $7.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th.

Lumen Technologies Stock Performance

LUMN opened at $8.16 on Friday. Lumen Technologies has a one year low of $3.37 and a one year high of $11.95. The stock’s fifty day moving average is $9.04 and its 200-day moving average is $8.17. The company has a market capitalization of $8.41 billion, a PE ratio of -4.69 and a beta of 1.70.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.34). The firm had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.83 billion. During the same quarter in the previous year, the company earned ($0.13) earnings per share. The business’s quarterly revenue was down 8.9% on a year-over-year basis. On average, equities research analysts forecast that Lumen Technologies will post -0.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Lumen Technologies

Institutional investors and hedge funds have recently modified their holdings of the stock. Kemnay Advisory Services Inc. acquired a new stake in shares of Lumen Technologies during the fourth quarter worth $25,000. Ascentis Independent Advisors acquired a new stake in shares of Lumen Technologies during the first quarter worth $27,000. International Assets Investment Management LLC acquired a new stake in shares of Lumen Technologies during the fourth quarter worth $30,000. Fifth Third Bancorp raised its position in shares of Lumen Technologies by 24.5% during the third quarter. Fifth Third Bancorp now owns 5,343 shares of the technology company’s stock worth $33,000 after purchasing an additional 1,051 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Lumen Technologies during the fourth quarter worth $35,000. 66.19% of the stock is owned by institutional investors and hedge funds.

About Lumen Technologies

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.