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

Lumen Technologies, Inc. (NYSE:LUMN) has been assigned a consensus recommendation of “Reduce” from the nine ratings firms that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $4.59.

A number of brokerages recently weighed in on LUMN. Wells Fargo & Company raised shares of Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 price target on the stock in a research note on Friday, February 21st. Royal Bank of Canada restated a “sector perform” rating and issued a $4.25 target price on shares of Lumen Technologies in a research report on Monday, February 10th. Finally, Citigroup raised Lumen Technologies from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $8.00 to $6.50 in a research note on Wednesday, February 26th.

Lumen Technologies Trading Up 2.2 %

Shares of LUMN stock opened at $4.99 on Thursday. Lumen Technologies has a 1-year low of $0.97 and a 1-year high of $10.33. The company has a market cap of $5.05 billion, a price-to-earnings ratio of -99.70 and a beta of 1.28. The company has a debt-to-equity ratio of 37.70, a current ratio of 1.21 and a quick ratio of 1.20. The stock has a 50 day simple moving average of $5.03 and a 200-day simple moving average of $6.09.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.14. Lumen Technologies had a negative net margin of 0.42% and a negative return on equity of 46.17%. On average, equities research analysts expect that Lumen Technologies will post -0.87 EPS for the current fiscal year.

Institutional Investors Weigh In On Lumen Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Lumen Technologies by 3.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 76,905 shares of the technology company’s stock worth $408,000 after buying an additional 2,220 shares during the last quarter. Siemens Fonds Invest GmbH acquired a new stake in Lumen Technologies during the fourth quarter worth $62,000. Jefferies Financial Group Inc. purchased a new stake in Lumen Technologies in the fourth quarter valued at $398,000. Mackenzie Financial Corp lifted its stake in shares of Lumen Technologies by 1,127.7% in the 4th quarter. Mackenzie Financial Corp now owns 790,031 shares of the technology company’s stock valued at $4,195,000 after purchasing an additional 725,681 shares during the last quarter. Finally, Forum Financial Management LP increased its position in shares of Lumen Technologies by 72.5% during the 4th quarter. Forum Financial Management LP now owns 27,552 shares of the technology company’s stock worth $146,000 after purchasing an additional 11,581 shares during the last quarter. 66.19% of the stock is currently owned by institutional investors and hedge funds.

Lumen Technologies Company Profile

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.