Lumen Technologies (NYSE:LUMN) Posts Quarterly Earnings Results, Beats Expectations By $0.14 EPS

Lumen Technologies (NYSE:LUMN) released its earnings results on Tuesday. The technology company reported $0.09 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.14, Zacks reports. Lumen Technologies had a negative return on equity of 49.74% and a negative net margin of 16.06%.

Lumen Technologies Stock Down 4.3 %

Lumen Technologies stock opened at $4.82 on Wednesday. The firm has a market capitalization of $4.90 billion, a price-to-earnings ratio of -2.19 and a beta of 1.28. The firm’s fifty day moving average price is $5.85 and its two-hundred day moving average price is $6.00. Lumen Technologies has a 1-year low of $0.97 and a 1-year high of $10.33. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 53.05.

Analysts Set New Price Targets

Several brokerages have issued reports on LUMN. Royal Bank of Canada restated a “sector perform” rating and issued a $4.25 price target (up from $4.00) on shares of Lumen Technologies in a research report on Friday, December 20th. TD Cowen decreased their price objective on Lumen Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a report on Wednesday, November 6th. Citigroup lifted their target price on Lumen Technologies from $6.50 to $8.00 and gave the stock a “neutral” rating in a report on Friday, November 29th. Finally, The Goldman Sachs Group increased their price target on Lumen Technologies from $4.50 to $5.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Three equities research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $4.66.

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.