Lumos Networks Corp. (LMOS) Cut to Hold at Zacks Investment Research

Lumos Networks Corp. (NASDAQ:LMOS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

According to Zacks, “Lumos Networks Corp. operates as fiber-based network service provider primarily in the Mid-Atlantic region. It operates in two segments: Competitive and Rural Local Exchange Carrier. The Competitive segment offers transport services, data and voice services and Internet access, and carrier transport services. The Rural Local Exchange Carrier segment provides wireline communications services. The Company serves a wide range of customers, including telecommunication carriers, enterprise and other business customers and residential customers over a dense fiber network offering data, voice, and IP-based services. Lumos Networks Corp. is headquartered in Waynesboro, Virginia. “

Separately, BidaskClub lowered Lumos Networks Corp. from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $19.25.

Shares of Lumos Networks Corp. (NASDAQ:LMOS) opened at 17.93 on Wednesday. Lumos Networks Corp. has a 12 month low of $13.25 and a 12 month high of $17.99. The stock’s market cap is $429.32 million. The company has a 50-day moving average price of $17.92 and a 200-day moving average price of $17.87.

Lumos Networks Corp. (NASDAQ:LMOS) last released its quarterly earnings results on Monday, August 7th. The utilities provider reported $0.02 EPS for the quarter, topping the consensus estimate of $0.01 by $0.01. The company had revenue of $56.37 million for the quarter, compared to analyst estimates of $55.33 million. Lumos Networks Corp. had a negative return on equity of 2.79% and a negative net margin of 1.70%. On average, analysts expect that Lumos Networks Corp. will post ($0.19) EPS for the current fiscal year.

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In other Lumos Networks Corp. news, insider Thomas E. Ferry sold 8,252 shares of Lumos Networks Corp. stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $17.94, for a total transaction of $148,040.88. Following the transaction, the insider now owns 50,383 shares of the company’s stock, valued at $903,871.02. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 8.70% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LMOS. Teachers Advisors LLC increased its position in Lumos Networks Corp. by 2.0% during the fourth quarter. Teachers Advisors LLC now owns 35,267 shares of the utilities provider’s stock worth $551,000 after buying an additional 684 shares during the period. Wells Fargo & Company MN grew its stake in shares of Lumos Networks Corp. by 13.0% in the 1st quarter. Wells Fargo & Company MN now owns 34,825 shares of the utilities provider’s stock valued at $617,000 after purchasing an additional 3,996 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Lumos Networks Corp. by 16.3% in the 1st quarter. Bank of New York Mellon Corp now owns 401,348 shares of the utilities provider’s stock valued at $7,104,000 after purchasing an additional 56,182 shares during the last quarter. Comerica Bank grew its stake in shares of Lumos Networks Corp. by 4.2% in the 1st quarter. Comerica Bank now owns 25,803 shares of the utilities provider’s stock valued at $462,000 after purchasing an additional 1,048 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in shares of Lumos Networks Corp. by 4.2% in the 1st quarter. Ameriprise Financial Inc. now owns 124,053 shares of the utilities provider’s stock valued at $2,196,000 after purchasing an additional 5,042 shares during the last quarter. 79.71% of the stock is currently owned by institutional investors.

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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