William Blair Comments on Lumos Networks Corp.’s Q4 2016 Earnings (LMOS)
Lumos Networks Corp. (NASDAQ:LMOS) – Analysts at William Blair lifted their Q4 2016 earnings per share estimates for Lumos Networks Corp. in a research note issued on Thursday. William Blair analyst J. Breen now expects that the firm will post earnings per share of $0.04 for the quarter, up from their prior estimate of $0.03. William Blair also issued estimates for Lumos Networks Corp.’s FY2017 earnings at $0.16 EPS.
Lumos Networks Corp. (NASDAQ:LMOS) last announced its earnings results on Wednesday, November 9th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. Lumos Networks Corp. had a return on equity of 1.33% and a net margin of 0.99%. The firm had revenue of $51.80 million for the quarter, compared to analyst estimates of $52.66 million. During the same quarter last year, the firm posted $0.06 EPS. The business’s revenue was up 1.9% on a year-over-year basis.
Several other research analysts have also commented on LMOS. Drexel Hamilton reaffirmed a “buy” rating on shares of Lumos Networks Corp. in a research report on Thursday. Zacks Investment Research raised Lumos Networks Corp. from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research report on Friday. Jefferies Group reaffirmed a “buy” rating and set a $18.00 price target (up previously from $16.00) on shares of Lumos Networks Corp. in a research report on Friday. Finally, BTIG Research began coverage on Lumos Networks Corp. in a research report on Thursday, August 11th. They set a “buy” rating and a $17.50 price target on the stock. Six investment analysts have rated the stock with a buy rating, Lumos Networks Corp. presently has a consensus rating of “Buy” and a consensus price target of $17.63.
Lumos Networks Corp. (NASDAQ:LMOS) opened at 14.74 on Friday. The stock’s 50 day moving average price is $14.19 and its 200-day moving average price is $13.03. The stock has a market cap of $376.98 million, a price-to-earnings ratio of 188.97 and a beta of 0.17. Lumos Networks Corp. has a 12 month low of $10.18 and a 12 month high of $14.83.
In other news, EVP Joseph E. Jr. Mccourt sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 18th. The stock was sold at an average price of $14.11, for a total value of $28,220.00. Following the transaction, the executive vice president now owns 47,887 shares of the company’s stock, valued at $675,685.57. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 8.70% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in LMOS. Prudential Financial Inc. raised its position in Lumos Networks Corp. by 4.3% in the first quarter. Prudential Financial Inc. now owns 62,891 shares of the company’s stock worth $808,000 after buying an additional 2,600 shares during the last quarter. Swiss National Bank raised its position in shares of Lumos Networks Corp. by 10.5% in the second quarter. Swiss National Bank now owns 41,100 shares of the company’s stock worth $497,000 after buying an additional 3,900 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Lumos Networks Corp. during the second quarter worth $124,000. Strs Ohio raised its position in shares of Lumos Networks Corp. by 8.3% in the second quarter. Strs Ohio now owns 52,200 shares of the company’s stock worth $631,000 after buying an additional 4,000 shares in the last quarter. Finally, Nationwide Fund Advisors raised its position in shares of Lumos Networks Corp. by 19.8% in the second quarter. Nationwide Fund Advisors now owns 171,159 shares of the company’s stock worth $2,071,000 after buying an additional 28,252 shares in the last quarter. 85.19% of the stock is currently owned by institutional investors and hedge funds.
Lumos Networks Corp. Company Profile
Lumos Networks Corp. is a fiber-based bandwidth infrastructure and service provider in the Mid-Atlantic region with a network of long-haul fiber, metro Ethernet and Ethernet rings located primarily in Virginia and West Virginia, and portions of Maryland, Pennsylvania, Ohio and Kentucky. The Company serves carrier, business and residential customers over its fiber network offering data, voice and Internet protocol (IP) services.
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