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

Shares of Lumen Technologies, Inc. (NYSE:LUMN) have been given an average rating of “Reduce” by the ten ratings firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating and nine have issued a hold rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $7.9062.

LUMN has been the subject of several recent research reports. UBS Group upped their target price on shares of Lumen Technologies from $6.00 to $8.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. TD Cowen raised their price target on Lumen Technologies from $8.00 to $9.00 and gave the stock a “hold” rating in a research report on Wednesday, May 6th. Zacks Research cut Lumen Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. Wall Street Zen upgraded Lumen Technologies from a “sell” rating to a “hold” rating in a report on Sunday, May 3rd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Lumen Technologies from $6.00 to $7.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Vaughan Nelson Investment Management L.P. grew its stake in Lumen Technologies by 58.3% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 4,768,300 shares of the technology company’s stock valued at $37,050,000 after purchasing an additional 1,755,368 shares in the last quarter. Private Advisory Group LLC acquired a new stake in shares of Lumen Technologies in the 4th quarter valued at approximately $1,200,000. Universal Beteiligungs und Servicegesellschaft mbH grew its stake in shares of Lumen Technologies by 210.6% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 562,520 shares of the technology company’s stock valued at $4,372,000 after buying an additional 381,391 shares in the last quarter. CapWealth Advisors LLC increased its holdings in Lumen Technologies by 3.2% during the fourth quarter. CapWealth Advisors LLC now owns 6,699,685 shares of the technology company’s stock worth $52,057,000 after buying an additional 204,970 shares during the last quarter. Finally, October Effect Ltd bought a new stake in Lumen Technologies during the fourth quarter worth $1,476,000. Institutional investors own 66.19% of the company’s stock.

Lumen Technologies Trading Up 0.1%

Shares of NYSE LUMN opened at $6.74 on Wednesday. Lumen Technologies has a 1 year low of $3.37 and a 1 year high of $11.95. The firm’s 50-day moving average is $8.68 and its 200-day moving average is $8.05. The firm has a market capitalization of $6.94 billion, a PE ratio of -3.87 and a beta of 1.75.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings results on Tuesday, May 5th. The technology company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.34). The company had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.83 billion. During the same period last year, the business posted ($0.13) earnings per share. Lumen Technologies’s revenue was down 8.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Lumen Technologies will post -0.39 earnings per share for the current fiscal year.

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.