Lumen Technologies (NYSE:LUMN) Upgraded at Raymond James

Raymond James upgraded shares of Lumen Technologies (NYSE:LUMN) from a market perform rating to an outperform rating in a research report released on Monday morning, Marketbeat reports. Raymond James currently has $4.50 price objective on the technology company’s stock.

Several other analysts also recently issued reports on LUMN. Citigroup raised shares of Lumen Technologies from a “neutral” rating to a “buy” rating and cut their target price for the company from $8.00 to $6.50 in a research note on Wednesday, February 26th. Royal Bank of Canada reissued a “sector perform” rating and issued a $4.25 price objective on shares of Lumen Technologies in a research note on Monday, February 10th. Finally, Wells Fargo & Company raised Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 target price on the stock in a research note on Friday, February 21st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $4.58.

Lumen Technologies Trading Down 0.8 %

Shares of NYSE LUMN opened at $4.23 on Monday. The company has a quick ratio of 1.20, a current ratio of 1.21 and a debt-to-equity ratio of 37.70. Lumen Technologies has a 12 month low of $0.97 and a 12 month high of $10.33. The company has a market cap of $4.33 billion, a price-to-earnings ratio of -84.48 and a beta of 1.34. The business has a fifty day simple moving average of $4.05 and a 200-day simple moving average of $5.43.

Lumen Technologies (NYSE:LUMN) last announced its earnings results on Thursday, May 1st. The technology company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.16. Lumen Technologies had a negative net margin of 0.42% and a negative return on equity of 46.17%. The company had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same period last year, the company posted ($0.04) earnings per share. The business’s revenue for the quarter was down 3.3% on a year-over-year basis. Sell-side analysts predict that Lumen Technologies will post -0.87 EPS for the current year.

Institutional Trading of Lumen Technologies

Several large investors have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC lifted its stake in shares of Lumen Technologies by 173.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 6,745 shares of the technology company’s stock valued at $36,000 after purchasing an additional 4,277 shares during the last quarter. Lazard Asset Management LLC raised its holdings in Lumen Technologies by 3,825.7% during the fourth quarter. Lazard Asset Management LLC now owns 7,498 shares of the technology company’s stock valued at $39,000 after buying an additional 7,307 shares in the last quarter. Conning Inc. acquired a new stake in shares of Lumen Technologies in the first quarter worth about $39,000. OneDigital Investment Advisors LLC acquired a new position in shares of Lumen Technologies during the 1st quarter valued at about $41,000. Finally, Meeder Advisory Services Inc. bought a new position in shares of Lumen Technologies in the 1st quarter valued at approximately $41,000. 66.19% of the stock is owned by institutional investors.

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.