Lumos Networks Corp. (LMOS) Rating Reiterated by Jefferies Group
Lumos Networks Corp. (NASDAQ:LMOS)‘s stock had its “buy” rating reissued by equities researchers at Jefferies Group in a note issued to investors on Friday. They currently have a $18.00 price objective on the stock, up from their prior price objective of $16.00. Jefferies Group’s price objective would suggest a potential upside of 23.54% from the stock’s previous close.
LMOS has been the subject of several other research reports. Drexel Hamilton set a $18.00 price objective on shares of Lumos Networks Corp. and gave the stock a “buy” rating in a research report on Wednesday, August 31st. BTIG Research assumed coverage on shares of Lumos Networks Corp. in a research report on Thursday, August 11th. They issued a “buy” rating and a $17.50 price target for the company. Six research analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and a consensus price target of $17.63.
Shares of Lumos Networks Corp. (NASDAQ:LMOS) opened at 14.57 on Friday. Lumos Networks Corp. has a 12 month low of $10.18 and a 12 month high of $14.83. The firm has a market cap of $343.50 million, a price-to-earnings ratio of 184.43 and a beta of 0.17. The stock has a 50 day moving average of $14.19 and a 200 day moving average of $13.05.
Lumos Networks Corp. (NASDAQ:LMOS) last issued its quarterly earnings data on Wednesday, November 9th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.01. The business earned $51.80 million during the quarter, compared to the consensus estimate of $52.66 million. Lumos Networks Corp. had a net margin of 0.99% and a return on equity of 1.33%. The company’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.06 EPS. On average, equities research analysts expect that Lumos Networks Corp. will post $0.02 EPS for the current fiscal year.
In other Lumos Networks Corp. news, EVP Joseph E. Jr. Mccourt sold 2,000 shares of the company’s stock in a transaction on Monday, September 19th. The shares were sold at an average price of $13.96, for a total transaction of $27,920.00. Following the completion of the transaction, the executive vice president now owns 47,887 shares in the company, valued at approximately $668,502.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 8.70% of the company’s stock.
A number of institutional investors have recently made changes to their positions in LMOS. Prudential Financial Inc. increased its position in shares of 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. BlackRock Fund Advisors increased its position in shares of Lumos Networks Corp. by 5.7% in the first quarter. BlackRock Fund Advisors now owns 1,661,294 shares of the company’s stock worth $21,331,000 after buying an additional 89,856 shares during the last quarter. Louisiana State Employees Retirement System increased its position in shares of Lumos Networks Corp. by 1.0% in the second quarter. Louisiana State Employees Retirement System now owns 10,300 shares of the company’s stock worth $125,000 after buying an additional 100 shares during the last quarter. Strs Ohio increased 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 during the last quarter. Finally, Investors Capital Advisory Services purchased a new position in shares of Lumos Networks Corp. during the second quarter worth approximately $138,000. Institutional investors own 84.23% of the company’s stock.
About Lumos Networks Corp.
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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