Lumen Technologies, Inc. (NYSE:LUMN) Receives $5.39 Consensus PT from Analysts

Lumen Technologies, Inc. (NYSE:LUMN) has received a consensus recommendation of “Hold” from the eight research firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $5.9750.

LUMN has been the subject of a number of analyst reports. Wall Street Zen lowered shares of Lumen Technologies from a “hold” rating to a “sell” rating in a report on Saturday. Raymond James Financial increased their target price on shares of Lumen Technologies from $4.50 to $5.00 and gave the stock an “outperform” rating in a research note on Friday, August 1st. Citigroup lowered shares of Lumen Technologies from a “buy” rating to a “neutral” rating and set a $11.00 target price for the company. in a research note on Friday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lumen Technologies in a research note on Wednesday, October 8th. Finally, The Goldman Sachs Group increased their target price on shares of Lumen Technologies from $4.10 to $4.60 and gave the stock a “neutral” rating in a research note on Friday, October 3rd.

Insider Activity

In related news, CEO Kathleen E. Johnson bought 135,870 shares of the stock in a transaction on Tuesday, August 5th. The stock was bought at an average price of $3.69 per share, with a total value of $501,360.30. Following the completion of the purchase, the chief executive officer directly owned 9,616,947 shares in the company, valued at $35,486,534.43. This represents a 1.43% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Christopher Stansbury bought 42,000 shares of the stock in a transaction on Thursday, August 14th. The shares were bought at an average cost of $4.29 per share, with a total value of $180,180.00. Following the purchase, the chief financial officer owned 518,000 shares of the company’s stock, valued at $2,222,220. This trade represents a 8.82% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have acquired 217,870 shares of company stock valued at $859,140. 2.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in LUMN. Arkadios Wealth Advisors raised its holdings in Lumen Technologies by 10.5% during the third quarter. Arkadios Wealth Advisors now owns 14,154 shares of the technology company’s stock worth $87,000 after purchasing an additional 1,340 shares in the last quarter. CWM LLC raised its holdings in Lumen Technologies by 19.9% during the third quarter. CWM LLC now owns 9,673 shares of the technology company’s stock worth $59,000 after purchasing an additional 1,606 shares in the last quarter. Congress Asset Management Co. raised its holdings in Lumen Technologies by 0.4% during the third quarter. Congress Asset Management Co. now owns 417,147 shares of the technology company’s stock worth $2,553,000 after purchasing an additional 1,780 shares in the last quarter. Merit Financial Group LLC raised its holdings in Lumen Technologies by 9.2% during the third quarter. Merit Financial Group LLC now owns 24,633 shares of the technology company’s stock worth $151,000 after purchasing an additional 2,079 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in Lumen Technologies by 5.3% during the third quarter. Nisa Investment Advisors LLC now owns 42,595 shares of the technology company’s stock worth $261,000 after purchasing an additional 2,151 shares in the last quarter. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Lumen Technologies Trading Down 0.6%

Shares of LUMN opened at $10.28 on Friday. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 59.98. Lumen Technologies has a 12-month low of $3.01 and a 12-month high of $11.32. The firm has a 50-day moving average price of $6.49 and a 200 day moving average price of $4.95. The firm has a market capitalization of $10.54 billion, a P/E ratio of -8.71 and a beta of 1.45.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings data on Friday, January 27th. The technology company reported $0.49 earnings per share (EPS) for the quarter. Lumen Technologies had a negative net margin of 9.19% and a negative return on equity of 158.40%. The firm had revenue of $4.05 billion during the quarter. Sell-side analysts forecast that Lumen Technologies will post -0.87 EPS for the current year.

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.