Lumen Technologies, Inc. (NYSE:LUMN) Receives $4.59 Average PT from Brokerages

Lumen Technologies, Inc. (NYSE:LUMN) has received a consensus recommendation of “Reduce” from the nine brokerages that are currently covering the firm, MarketBeat reports. Two research analysts have 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 target price among brokers that have covered the stock in the last year is $4.59.

Several analysts have issued reports on the company. Royal Bank of Canada restated a “sector perform” rating and issued a $4.25 target price on shares of Lumen Technologies in a report on Monday, February 10th. Citigroup upgraded shares of Lumen Technologies from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $8.00 to $6.50 in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company upgraded shares of Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 target price on the stock in a report on Friday, February 21st.

Lumen Technologies Price Performance

Lumen Technologies stock opened at $3.28 on Monday. The company has a fifty day simple moving average of $4.32 and a 200-day simple moving average of $5.68. The company has a quick ratio of 1.20, a current ratio of 1.21 and a debt-to-equity ratio of 37.70. The firm has a market capitalization of $3.36 billion, a price-to-earnings ratio of -65.49 and a beta of 1.29. Lumen Technologies has a 52-week low of $0.97 and a 52-week high of $10.33.

Lumen Technologies (NYSE:LUMN) last released its earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.14. Lumen Technologies had a negative net margin of 0.42% and a negative return on equity of 46.17%. On average, equities analysts anticipate that Lumen Technologies will post -0.87 EPS for the current fiscal year.

Hedge Funds Weigh In On Lumen Technologies

A number of hedge funds have recently made changes to their positions in LUMN. Ritholtz Wealth Management purchased a new position in shares of Lumen Technologies during the first quarter worth $43,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Lumen Technologies by 263.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 279,789 shares of the technology company’s stock valued at $1,097,000 after acquiring an additional 202,884 shares during the period. Polianta Ltd grew its position in Lumen Technologies by 109.8% in the 1st quarter. Polianta Ltd now owns 273,600 shares of the technology company’s stock valued at $1,072,000 after acquiring an additional 143,200 shares in the last quarter. Compagnie Lombard Odier SCmA lifted its position in shares of Lumen Technologies by 122.2% during the first quarter. Compagnie Lombard Odier SCmA now owns 100,000 shares of the technology company’s stock worth $392,000 after purchasing an additional 55,000 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of Lumen Technologies by 103.4% in the first quarter. SG Americas Securities LLC now owns 170,464 shares of the technology company’s stock valued at $668,000 after purchasing an additional 86,637 shares during the period. Hedge funds and other institutional investors own 66.19% of the company’s stock.

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.