Lumen Technologies’ (LUMN) Sector Perform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada restated their sector perform rating on shares of Lumen Technologies (NYSE:LUMN) in a research note published on Monday morning,Benzinga reports. The firm currently has a $4.25 target price on the technology company’s stock.

Several other equities research analysts have also recently weighed in on the company. The Goldman Sachs Group increased their target price on Lumen Technologies from $4.50 to $5.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Citigroup increased their target price on Lumen Technologies from $6.50 to $8.00 and gave the company a “neutral” rating in a report on Friday, November 29th. Finally, TD Cowen dropped their target price on Lumen Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a report 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 company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $4.66.

Lumen Technologies Price Performance

LUMN opened at $4.65 on Monday. The stock has a 50-day moving average price of $5.59 and a 200-day moving average price of $6.11. Lumen Technologies has a 12-month low of $0.97 and a 12-month high of $10.33. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 37.70. The stock has a market capitalization of $4.72 billion, a P/E ratio of -92.98 and a beta of 1.28.

Lumen Technologies (NYSE:LUMN) last issued its earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.14. Lumen Technologies had a negative return on equity of 46.17% and a negative net margin of 0.42%. Equities analysts predict that Lumen Technologies will post -0.79 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of LUMN. Marshall Wace LLP bought a new position in Lumen Technologies during the 2nd quarter valued at approximately $54,000. The Manufacturers Life Insurance Company raised its position in shares of Lumen Technologies by 2.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 509,861 shares of the technology company’s stock worth $561,000 after acquiring an additional 9,922 shares in the last quarter. Sanctuary Advisors LLC bought a new position in shares of Lumen Technologies in the 2nd quarter worth approximately $25,000. GAMMA Investing LLC raised its position in shares of Lumen Technologies by 1,901.8% in the 3rd quarter. GAMMA Investing LLC now owns 6,846 shares of the technology company’s stock worth $49,000 after acquiring an additional 6,504 shares in the last quarter. Finally, CWM LLC raised its position in shares of Lumen Technologies by 49.6% in the 3rd quarter. CWM LLC now owns 15,692 shares of the technology company’s stock worth $111,000 after acquiring an additional 5,202 shares in the last quarter. Institutional investors own 66.19% of the company’s stock.

About Lumen Technologies

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.